Regal Bank agrees to buy Franklin Township, New Jersey branch of New Millennium Bank
LIVINGSTON, NJ (February 14, 2017) — Regal Bank announced today that it had reached agreement with New Millennium Bank to purchase its Franklin Township, New Jersey branch office located at 464B Elizabeth Avenue, Somerset, New Jersey. It is expected that Regal Bank will assume approximately $32 million in deposits from New Millennium Bank, subject to adjustment based upon actual deposits as of the closing date. The remainder of the deposits of the branch, consisting primarily of certificates of deposit accounts, will remain with New Millennium Bank. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to close late in the second quarter of 2017.
About Regal Bank
Headquartered in Livingston, New Jersey, Regal Bank is a full-service community bank offering a wide range of products and services designed to help customers meet their personal financial goals. These products and services are delivered in an efficient, friendly manner, making the experience at Regal Bank an enjoyable one. Regal Bank operates nine branch offices in Livingston, Roseland, Florham Park, Millburn, West Orange, Somerset, Springfield and Summit, New Jersey. Additional information is available at regalbanknj.com, email@example.com, or 973-716-0600.