Nara Bancorp of Los Angeles said Thursday that it had made a deal to buy a branch in Brick Township, N.J., from a New Jersey bank.
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The $2.2 billion-asset Nara would not name the seller but said it would receive cash and fixed assets and would assume about $8 million of deposits. The deal is expected to close next quarter.
Nara Bank currently has a loan production office in Bergen County, and the company said the deal would allow its bank to expand with more branches in the state. Nara Bank also has four branches in the New York metropolitan area.
