New Jersey

The former New Jersey mutual is stepping up efforts to court bigger commercial clients. The move will help Investors diversify its loan book and deploy capital while it is barred from buying banks.

The New Jersey company's profit growth was constrained by an 11% increase in compensation and benefits and an 85% jump in consulting fees tied to compliance and other issues.

Growth in commercial real estate loans is a big reason the New Jersey bank had a strong quarter.

The company appointed a representative of Stilwell Group to its board. Stilwell, meanwhile, agreed to back Delanco's board nominees and refrain from pushing for the company's sale.

South led the credit union for more than 20 years and worked closley with the New Jersey CU League and World Council of Credit Unions, among others.

The New Jersey company added a representative of Blue Harbour Group in Connecticut to its board.

James Lockhart, former director of the FHFA, is replacing Wilbur Ross, who resigned when he became Commerce secretary, on the New Jersey company's board.

The company sued the former director over the debt, which disqualified him from board service.

Valley National Bancorp in Wayne, N.J., has promoted Dianne Grenz to become its chief consumer banking officer.

Weakness in the energy sector and a surge in new construction are pushing up vacancy rates at offices and hotels, leading to a spike in delinquencies on loans tied to them. The safer bet, bankers say, is lending on industrial properties.