Investors Bancorp (ISBC) in Short Hills, N.J., announced Monday that it is selling an undisclosed number of shares to the investment banks that managed its recent stock sale.

The $15.6 billion-asset company is in the process of converting from a mutual holding company to a 100% stock-owned company and it completed its subscription offering on April 11. The new holding company is to be called New Investors Bancorp.

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