Hudson United of N.J. in $161M Advest Deal

Hudson United Bancorp has a deal to become the exclusive provider of banking products for Advest Inc., a brokerage, investment banking, and asset management company.

Hudson United, Mahwah, N.J., is also paying $161 million for the loans and deposit liabilities of Advest Bank and Trust, a subsidiary of Hartford, Conn.-based Advest Group Inc. Advest would keep the name and charter of its bank subsidiary. The deal is scheduled to close in the third quarter.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER