Investors Bancorp is taking a meaningful step to becoming a major commercial lender in the New York area.

The $23.9 billion-asset company, which is already the largest bank based in New Jersey, is scaling up efforts to land midsize clients, targeting businesses that earn $10 million to $50 million annually. In doing so, the bank, just three years removed from being a mutual, will lock horns with many of the area’s biggest commercial banks.

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