Yielding to the pressure of an activist shareholder, New Jersey's 1st Bergen Bancorp said it would sell to Kearny (N.J.) Federal Savings Bank for $61 million in cash.

Based in Wood-Ridge, 1st Bergen is the $300 million-asset holding company of South Bergen Savings Bank. After the sale, privately held Kearny would have $1.1 billion of assets and nine branches in northern New Jersey.

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