New Jersey

The long-delayed approval of the merger of M&T and Hudson City should have been a bright spot in postcrisis M&A, but a small footnote from the Fed quickly reminded bankers that dealmaking will remain a demanding process.

The $417 million-asset company appointed John Kaufman, 33, as CFO on Friday, according to a news release. Kaufman was also named CFO of MSB's Millington Savings Bank.

Santander Bank has hired Siobhan Schroth as market director for corporate and commercial banking in New York and New Jersey.

A Federal Reserve decision is expected soon on M&T's long-delayed application to buy Hudson City Bancorp. M&T would still get strategic benefits it sought, but Hudson City has shrunk and become less profitable since it agreed to sell three years ago, and the cost of the deal has risen.

BCB Bancorp in Bayonne, N.J., has commenced a public offering of $40 million of its common stock.

Stewardship Financial in Midland Park, N.J., has issued $16.6 million in subordinated debt and plans to exit the Small Business Lending Fund program.