When Summit Bancorp recently said it was going after yet another major slice of the New Jersey banking market, investors cheered.

After all, Summit's planned $869 million purchase of Collective Bancorp- the second-largest deal unveiled last month-would bring its share of the state's deposit market to 16%, without serious dilution of earnings.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.