PRINCETON, N.J. -- UJB Financial Corp. said it completed the consolidation of three banking units - United Jersey Bank (Hackensack), United Jersey Bank/Central, and United Jersey Bank/South - into a single, statewide bank called United Jersey Bank.
United Jersey Bank, at $11.6 billion of assets, is the largest subsidiary of UJB Financial Corp. and the largest state-chartered bank in New Jersey. It has 183 branches in 19 of the state's 21 counties.
The consolidation is the last step of a restructuring announced last September that included a similar merger of four Pennsylvania banks and a focus on four core business lines: retail banking, wholesale banking, mortgages, and private banking-investment management.
T. Joseph Semrod, chairman of UJB Financial Corp., also became chairman, president and chief executive officer of the consolidated bank.
Sabry J. Mackoul, president of United Jersey (Hackensack); John J. O'Gorman, president of United Jersey/Central; and Gary F. Simmerman, president of United Jersey/South, became regional presidents.
