New Jersey

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.

M&T is squeezing savings out of its newly purchased Hudson City Bancorp after fighting long and hard for regulatory approval. But it's also taking steps to keep Hudson City's customers from leaving, like offering higher rates on CDs in the New Jersey area.