Hubco Inc. furthered its reach in the Northeast when it announced Tuesday that it would spend more than $400 million to buy two thrifts.

The Mahwah, N.J., banking company said it would buy Dime Savings Bank, a $961 million-asset company based in Wallingford, Conn., for $201 million. And it announced it would buy IBS Financial Corp., a $734 million-asset thrift headquartered in Cherry Hill, N.J., for $227 million.

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