Investors led by Kohlberg & Co., a New York Investment firm, said Monday that they had signed a letter of intent to buy the ailing Carteret Savings Bank.

Under the deal, the Kohlberg group would provide a $200 million capital infusion in return for 90% of Carteret.

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.