New Jersey

A New Jersey appeals court ruled that debt buyers do not have to provide notice to consumers when debts are purchased and assigned but must prove they own the debt and the amount before they can collect. Further, electronic business records are sufficient for proof.

Sun Home Loans in New Jersey named Theresa Trainum as its senior vice president and chief operating officer.

Unity Bank, a subsidiary of Unity Bancorp Inc. (UNTY) has opened a new division that will offer a wide range of investment products and services aimed at helping customers to grow and preserve wealth.

Regulators continue to make Bank Secrecy Act compliance one of their top priorities, according to newly available information on enforcement actions.

The Office of the Comptroller of the Currency shuttered the $130 million-asset Millennium Bank in Sterling, Va., while Pennsylvania state regulators closed the $63 million-asset Vantage Bank in Horsham, Pa.

The $3 billion-asset company said in a press release Tuesday that Jack Allison will oversee the bank's banking, mortgage, small business, information technology and retail divisions, along with the operations of investment firm, Sun Financial Services, in a newly created post.

OceanFirst Financial (OCFC) in Toms River, N.J., has added its president and chief operating officer to its board.

PHH Corp. is considering selling its mortgage banking business, a move that is apparently being driven by some of the company's investors.

Clifton Savings Bancorp (CSBK) in Clifton, N.J., has received approval from the Federal Reserve Board to start a second-step conversion.

Colonial Financial Services (COBK) in Vineland, N.J., has revised its third-quarter financial statements to reflect non-compliance with regulatory capital ratios.

Investors Bancorp (ISBC) in Short Hills, N.J., which is poised for a second-step conversion, saw quarterly profits soar on big loan growth.

Provident Financial Services (PFS) of Iselin, N.J., said Friday that it earned $17.4 million in the fourth quarter, up 4.2% from the same quarter a year prior, due largely to improved asset quality.

Kearny Financial Corp. (KRNY) in Fairfield, N.J., has agreed to buy Atlas Bank in Brooklyn, N.Y.

Lakeland Bancorp (LBAI) in Oak Ridge, N.J., reported higher net income after buying Somerset Hills Bancorp.

Center Bancorp (CNBC) in Union, N.J., has agreed to buy ConnectOne Bancorp (CNOB) in Englewood Cliffs, N.J.

Investors Bancorp (ISBC) in Short Hills, N.J., is set to complete its purchase of Gateway Community Financial in Sewell, N.J., next week.

Investors Bancorp (ISBC) in Short Hills, N.J., plans to issue up to $2.5 billion of stock as part of its conversion from a mutual to a stock holding company.

Provident Financial Services (PFS) in Jersey City, N.J., has agreed to buy Team Capital Bank in Bethlehem, Pa.

Albert Buzzetti, founding chairman and chief executive at Bancorp of New Jersey (BKJ) in Fort Lee, has died.

The $1.1 billion-asset company said in a regulatory filing Thursday that it sold bank and insurance trust-preferred collateralized debt obligations that cost about $8.3 million -- at an $850,000 loss.