PRINCETON, N.J. -- UJB Financial Corp. said it has obtained Federal Reserve Bank of New York approval to merge three New Jersey banks into one with $11 billion of assets and 183 branches statewide.
The separately chartered banks -- United Jersey Bank/Central, West Windsor; United Jersey Bank South, Cherry Hill; and United Jersey Bank of Hackensack -- would become United Jersey Bank, based in Hackensack. UJB chairman T. Joseph Semrod would be chief executive officer of the bank.
The consolidation is planned for July 15, 1994. On March 18, UJB Financial completed the consolidation of its three banks in eastern Pennsylvania.