New Jersey's Hubco Inc. announced plans Thursday to acquire Poughkeepsie (N.Y.) Financial Corp. for $136 million in a stock deal valued at about 1.84 times book value.

The acquisition of $880 million-asset Poughkeepsie would boost Mahwah- based Hubco's assets to nearly $4 billion. More important, it gives Hubco entree to New York State-specifically the wealthy Hudson Valley region.

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