New Jersey's Carnegie Bancorp has delayed its special shareholder vote on its merger with Regent Bancshares because Philadelphia-based Regent hasn't completed its yearend 1995 financial statements.
The audit of Regent's statements has been delayed because of inadequate information received from the company servicing the bank's car insurance premium financing. Officials of Princeton-based Carnegie said it doesn't know what impact, if any, this will have on the merger.
No new date has been set for the special meeting, which had been tentatively scheduled for mid-May. The bank's regular annual meeting will be held May 29.
Meanwhile, the Federal Reserve Bank of Philadelphia has added its stamp of approval to the merger. The banks previously obtained approval from the Office of the Comptroller of the Currency.
Carnegie also declared a 5% stock dividend payable May 15 to shareholders of record on April 24.