Investors Bancorp (ISBC) in Short Hills, N.J., and Roma Financial (ROMA) in Robbinsville, N.J., have extended the deadline for their merger while they wait for regulatory approval.
The companies said Thursday that they have moved the deadline to complete the deal to Nov. 30, from Sept. 30, to allow more time for the Federal Reserve Board to approve the transaction. The Federal Deposit Insurance Corp. and the State of New Jersey Department of Banking and Insurance approved the merger in June.
The $12.8 billion-asset Investors agreed to buy the $1.8 billion-asset Roma in December, and they originally expected to complete the deal in the second quarter. The merger has been marked by several hiccups, including shareholder lawsuits, a check-kiting scam at Roma and allegations of discriminatory lending practices.
Investors also has a pending deal to buy Gateway Community Financial in Sewell, N.J.