Hubco Inc. said Tuesday it will pay $29.6 million to buy Community Financial Holding Corp., Westmont, N.J.

Community Financial has assets of $150 million and is the parent of Community National Bank of New Jersey. The purchase price is equal to about 2.5 times Community Financial's book value and 47 times its 1997 earnings.

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.