 | |
| Company type | Subsidiary of Citizens Financial Group |
|---|---|
| Nasdaq: ISBC | |
| Industry | Banking |
| Founded | 1926 |
| Defunct | 2023; all branches rebranded as Citizens Bank |
| Headquarters | , United States |
Area served | New Jersey, New York (some loans available in other states) |
| $57.9 Million (Q1 2018)[1] | |
| Total assets | $25.23 Billion (Q1 2018)[2] |
| Parent | Citizens Financial Group (2022—2023) |
| Subsidiaries | Investors Home Mortgage, Investors Financial |
| Website | www |
Investors Bank was a publicly traded, full-service bank that was based in Short Hills, New Jersey, USA. The bank operated over 150 branches across New Jersey and New York.[3]
The bank operated from 1926 until 2022 as an independent entity, then was purchased by Citizens Financial Group. Investors Bank continued to operate as a subsidiary of Citizens while the company worked to merge the operations of the two banks into one; this was completed on February 28, 2023, when all Investors Bank branches were rebranded as Citizens Bank.
History[edit]
In 1926, the bank was incorporated as the Washington Rock Building and Loan Association.[4] Sixteen years later, its name changed to Investors Savings and Loan Association. Through mergers, acquisitions, and internal expansion, the bank grew and eventually changed its name to Investors Savings Bank.[5]
In 1997, Investors changed from a New Jersey-chartered mutual savings bank to a New Jersey-chartered stock savings bank, and reorganized as a two-tiered holding company. The bank became a wholly owned subsidiary of Investors Bancorp, Inc., a Delaware-chartered, mid-tier stock holding company, and Investors Bancorp Inc. became a wholly owned subsidiary of Investors Bancorp MHC.
In 2005, Investors Bancorp Inc. became a partially public company, trading common stock on the NASDAQ.[6] In 2011, the bank rebranded itself and changed its name to Investors Bank.[7] On May 8, 2014, Investors Bancorp became a fully public company.[8]
Investors Bank was acquired by Citizens Financial Group in 2022.[9] By February 28, 2023, all Investors locations were rebranded as Citizens Bank.[10]
Acquisitions[edit]
- 1942: Millburn Building and Loan Association
- 1943: Connecticut Farms Building and Loan Association, Battle Hill Building and Loan Association
- 1947: Brick Church Savings and Loan Association
- 1958: Lyons Farms Building and Loan Association
- 1963: Divident Hill Savings and Loan Association
- 1969: Plainfield Savings and Loan Association
- 1973: Camptown Savings and Loan Association
- 1977: Supreme Savings and Loan Association
- 1991: East Jersey Savings Bank
- 1995: five Carteret Federal Savings Bank branches
- 2008: Summit Federal Savings Bank
- 2009: American Bank of New Jersey, six Banco Popular branches in New Jersey[13]
- 2010: seventeen Millennium BCP Bank branches (entire US operations; four branches were later sold by Investors Bank)
- 2012: Brooklyn Federal Savings Bank, Marathon Bank
- 2013: Roma Bank, RomAsia Bank
- 2014: GCF Bank
- 2019: Gold Coast Bank
- 2021: eight New Jersey and eastern Pennsylvania branches of Berkshire Bank
References[edit]
- ^ https://www.snl.com/Cache/1001236066.PDF?O=PDF&T=&Y=&D=&FID=1001236066&iid=1032002 [bare URL PDF]
- ^ https://www.snl.com/Cache/1001236066.PDF?O=PDF&T=&Y=&D=&FID=1001236066&iid=1032002 [bare URL PDF]
- ^ "Branch and ATM Locations | NY Bank | NJ Bank | Investors Bank".
- ^ "Marathon Banking agrees to purchase by Investor Bancorp". Zephyr. 15 June 2012. Retrieved 2013-08-29.
- ^ Lynne Ranieri (9 August 2010). "Local History: Investors Savings Bank's Legacy". Millburn-ShortHills Patch. Retrieved 2013-08-29.
- ^ "Investors Bancorp, Inc. Stock Quote & Summary Data". NASDAQ. Retrieved 2013-08-29.
- ^ Andy Peters (18 July 2012). "For Banks, New Logo Are More than Skin Deep". American Banker. Retrieved 2013-09-03.
- ^ Tom DePoto (9 May 2014). "Investors Bancorp becomes a publicly owned company, starts trading on NASDAQ". Newark Star-Ledger. Retrieved 2014-05-09.
- ^ "Citizens Financial Group Completes Acquisition of Investors Bancorp" (Press release). 7 April 2022. Retrieved 6 August 2022.
- ^ "North Shore residents will see closures of Investors Bank branches | TBR News Media". 3 February 2023.
- ^ "Bank List".
- ^ "Our History | Investors Bank".
- ^ "Investors Savings Bank Adds New Branches in Essex and Passaic Counties; Moves into Newark and Montclair and Expands in Clifton".
External links[edit]
- Company Site
- Historical business data for Investors Bancorp, Inc.:
- SEC filings