Boiling Springs Bancorp Completes Acquisition of Ridgewood Financial, Inc.Business Editors
RUTHERFORD Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. , N.J.--(BUSINESS WIRE)--June 29, 2001
Boiling Springs Boiling Springs is the name of several places in the United States:
Edward C. Gibney, President and Chief Executive Officer of Boiling Springs, commented, "We are extremely pleased to welcome Ridgewood Savings Bank, its customers and employees to our franchise. The combined entity will be a strong, community-oriented institution dedicated to customer service for many years to come."
Following the merger, Boiling Springs and its Ridgewood Savings division will have approximately $925 million in assets and over $800 million in deposits and will operate twelve banking offices in Clifton, Hillsdale, Lincoln Park Lincoln Park, city (1990 pop. 41,832), Wayne co., SE Mich., a suburb adjacent to Detroit, on the Detroit River; inc. 1921. It is a residential community in an area marked by a significant decline in industry. , Lyndhurst, Mahwah, Ridgewood, Rochelle Park, Rutherford and Wyckoff, New Jersey Wyckoff is a township in Bergen County, New Jersey, United States. As of the United States 2000 Census, the township population was 16,508. It is a primarily white, upper-middle class community outside New York City. .
In accordance with the terms of the merger agreement, Ridgewood's shareholders will receive $18 per share in cash for each share of Ridgewood common stock they own. Instructions on how to exchange their shares for the merger consideration will be mailed to Ridgewood's stockholders shortly.