New Jersey

Shares of Clifton Savings Bancorp Inc. in New Jersey tumbled a day after it said its regulator would not approve its second-step conversion.

Unity Bancorp Inc. in Clinton, N.J., said Thursday that its fourth-quarter loss widened by 25% from the period a year earlier, to $299,000.

Hudson City Bancorp Inc., one of the largest residential lenders in the mid-Atlantic area, on Friday pulled the plug on a plan to move to a commercial bank from a thrift holding company.

Sun Bancorp Inc. in Vineland, N.J., said Wednesday that it expects to report a $25 million loss from the sale of commercial real estate loans.

At a time when banks need to distinguish themselves and boost revenue, Investors Bancorp Inc. is embracing a service that many banks are wary of: remittances.

Center Bancorp Inc. in Union, N.J., said late Friday that two directors had resigned and that it planned to appoint an investment manager to the board.

Losses at Sun Bancorp Inc. in Vineland, N.J., swelled in the third quarter, to $75.3 million, from $6.5 million a year earlier.

Saddle River Valley Bancorp in New Jersey has a new private-equity owner. The $82.8 million-asset company announced Thursday that SRV Holdings Inc. — an investment vehicle of the New York private-equity firm J.C. Flowers & Co. — has bought a controlling interest in Saddle River Valley. Though the companies did not disclose terms, a spokesman said SRV purchased a 50.5% stake, with the expectation that it would invest additional funds in the future.

Kearny Financial Corp. in Fairfield, N.J., has received approval from its regulator to acquire Central Jersey Bancorp in Oakhurst, the companies announced Thursday.

Valley National Bancorp in Wayne, N.J., said Thursday that its net income rose 27% year over year in the third quarter, to $32.6 million.

As some mutual holding companies tinker with their second-step conversions, Northfield Bancorp Inc. in Avenel, N.J., is shelving its aspiration of becoming an all-stock company.

Center Bancorp Inc. in Union, N.J., Wednesday set the price of its two stock offerings, through which it expects to raise about $12 million in capital.

Jay Sidhu is one step closer to building another regional empire. In an interview Monday, he said a bid for tiny ISN Bank was to gain access to customers in the Garden State.

Bank turnaround artist Patrick Frawley sealed deals to buy three failed institutions in Georgia on Friday, as regulators shuttered a total of six banks.

Northfield Bancorp Inc. in Avenel, N.J., said Wednesday that shares of its common stock will be sold in a syndicated community offering as part of its mutual-to-stock conversion.

Eight months after calling off a deal to buy Royal Asian Bank, Edward Shin, the bank's CEO, is back with a new deal, crediting perseverance and a grassroots approach.

Oritani Financial Corp. in Washington, N.J., announced a quarterly loss of $4.1 million that it said stemmed in part from its conversion from a mutual to a stock company in June.

Sun Bancorp Inc. in Vineland, N.J., reported a second-quarter loss of $81.2 million, which it attributed primarily to a goodwill impairment charge of $89.7 million.

Valley National Bancorp in Wayne, N.J., said Thursday that second-quarter net income more than tripled from a year earlier. The $14.1 billion-asset company earned $33 million, or 21 cents a share, compared with $9.2 million, or 6 cents a share, exceeding analysts' expectations.

The $3.5 billion-asset company was grappling with a regulatory order and coping with deteriorating credit in its slow-growth southern New Jersey market when it secured a $100 million investment last week, half of it from billionaire Wilbur Ross' private-equity group.