Summit Bancorp's agreement to buy Egg Harbor City, N.J.-based Collective Bancorp for $867 million might increase its home-state market share but wouldn't guarantee independence, analysts said.

"Any transaction which adds to earnings per share and enhances market share has to make a bank more attractive, but it's also true that the larger a bank gets, the more difficult it is to be acquired," said Kenneth J. Puglisi, an analyst at Sandler O'Neill & Partners.

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.