New Jersey

Provident Financial Services in Iselin, N.J., reported relatively flat quarterly results as lower fees offset loan growth.

Quarterly profit at CIT Group plunged after the in Livingston, N.J., company recorded $167 million in charges tied to its discontinued reverse-mortgage servicing unit.

Valley National Bancorp in Wayne, N.J., reported higher quarterly profit because of loan sales and increases in other fees.

The $2.1 billion-asset company said in a press release Tuesday that its second-quarter earnings rose 4.7% from a year earlier to $3 million, or 16 cents a share.

OceanFirst Financial in Toms River, N.J., has agreed to buy Ocean Shore Holding in Ocean City, N.J.

Community banks are stepping up efforts to raise cheap capital to fuel loan growth, make acquisitions and redeem pricier sources of funds.

First Bank in Hamilton, N.J., has raised $13.7 million by selling common stock.

Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to buy First Choice Bank in Lawrenceville, N.J.

OceanFirst Bank in Toms River, N.J., now has extra reason to cheer for the Monmouth University men’s basketball team that was in the running for an NCAA tournament berth last season.

Peapack-Gladstone Financial in Bedminster, N.J., is considering additional acquisitions in wealth management after raising $50 million in subordinated debt.

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

Highlands Bancorp in Vernon, N.J., has raised $7.5 million to exit the Small Business Lending Fund.

John Garbarino will step aside as chairman of the $4.2 billion-asset company on Dec. 31, but he will turn over the job to a familiar face — Christopher Maher, who will remain president and chief executive, also.

Banks have rushed to the exits when it comes to Fannie Mae and Freddie Mac debt securities. Federal liquidity rules seem to be prompting big banks to do so, but why small banks are unloading the bonds, too, is more of a puzzler.

Valley National Bank in Wayne, N.J., has appointed former PNC executive Robert Bardusch to be its chief information officer.

Shore Community Bank in Toms River, N.J., has called on some old friends to lead the board of directors.

TD Bank announced Thursday that it is doing away with the Penny Arcade coin-counting machines that are stationed in more than 1,000 of its branches along the East Coast.

Short Hills, New Jersey, is among the richest communities in the U.S. The directors of a local savings and loan get paid accordingly.

Investors Bancorp in Short Hills, N.J., has agreed to buy Bank of Princeton in Princeton, N.J.

Paragon Commercial Bank, Unity Bancorp and Nicolet Bankshares have found success by radically rethinking their strategies.