HADDONFIELD, N.J. - Covenant Bank said it has agreed to acquire New Jersey Savings and Loan Association, based in Atco.

The letter of intent provides that the acquisition will be through a supervisory stock conversion and the simultaneous merger of New Jersey Savings into Covenant, with no consideration to be paid by Covenant.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.