North Fork Bancorp. completed the purchase of the 10 Long Island branches of First Nationwide Bank for a deposit premium of 6.35%.
The 10 branches have deposits of about $575 million. Their purchase and the March 15 acquisition of the commercial banking business of Extebank increased North Fork's branch network to 67 locations in six counties in the New York metropolitan area.
Assets total about $4 billion.
"These acquisitions, that are expected to be earnings accretive, will enable North Fork to be a larger, more effective competitor in our markets," said John Adam Kanas, chief executive.
North Fork Bancorp. is the holding company for North Fork Bank.