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Valley National Bancorp's (VLY) profit fell by nearly a third in the third quarter as the Wayne, N.J.-based company saw a substantial decrease in net gains on sales of residential mortgages.
October 24 -
Investors Bancorp (ISBC) in Short Hills, N.J., has added to its board a longtime New York banker with deep roots in Brooklyn.
October 18 -
Delanco Bancorp in New Jersey has completed its conversion to a fully public company.
October 17 -
Two small New Jersey start-ups have agreed to a merger of equals.
August 7
Highlands Bancorp (HSBK) in Vernon, N.J., has agreed to buy Secured Lending Solutions, a mortgage banking company in Glen Rock, N.J.
The $200 million-asset Highlands did not disclose the price it expects to pay for the lender, which specializes in one-to-four family loans and reverse mortgages, and operates in northern New Jersey and southern New York.
Its president, Michele Luff, will remain in place following the acquisition, Highlands said. The deal is pending regulatory approvals.
"Highlands' strategic plan has been to offer excellent residential mortgage products to our customer base, and bringing [Secured Lending Solutions] into our company enables us to provide the customers in our market area with competitive mortgage products delivered with the kind of service both we and our customers expect," said George Irwin, Highlands' chief executive, in the news release.
Highlands was founded in 2005, and in 2008 it completed a
