UNION CITY, N.J. - Hubco Inc. said it has entered into an agreement to acquire Statewide Savings Bank for stock equal to Statewide's appraised value.

Statewide, a mutual savings bank, would convert to stockholder ownership and merge into Hubco. Shares would be offered to certain Statewide depositors at a price of $18 each or 95% of the market value on a set date.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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