NSB Holding to merge with Liberty Bancorp.John W. Alexander, chairman of the board and chief executive officer of North field Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , the principal operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of NSB NSB National Science Board NSB New Smyrna Beach (Florida, USA) NSB Norges Statsbaner NSB Naval Submarine Base NSB National Standards Body (RSA) NSB North Slope Borough Holding Corporation, announced that NSB Holding has received final approval of its merger with Liberty Bancorp, Inc. of Avenel, N.J. "All required approvals from the appropriate federal and state banking regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities have been received and the merger is scheduled to close on Dec. 31," he said. "Liberty Bank will be acquired and merged into Northfield Savings Bank and will operate as a division of Northfield." Northfield, celebrating its 115th Anniversary this year, has assets of $1.1 billion while Liberty has assets of $346 million. "The seven full-service branches of Liberty located in Middlesex and Union Counties, New Jersey will combine with the 12 full-service offices of Northfleld, all located in Staten Island Staten Island (1990 pop. 378,977), 59 sq mi (160 sq km), SE N.Y., in New York Bay, SW of Manhattan, forming Richmond co. of New York state and the borough of Staten Island of New York City. , N.Y., to form the branches of a larger community-oriented financial institution. The resulting resources can be used to improve services on a more competitive basis while providing additional convenience to all of our customers," Alexander added. "In addition, this expansion in our deposit base will allow us to better use our strong capital position in a market that is close to our Staten Island headquarters, setting the foundation for possible future expansion," he continued. Albert J. Regen, Northfield's president, emphasized the bank's dedication to its customers. "We recently introduced Overdraft A check that is drawn on an account containing less money than the amount stated on the check. The term overdraft is also used in reference to the condition that exists when vouchers Edge(SM) as a product that can give our customers peace of mind when writing a check and we continue to upgrade the ATMs throughout our system. You can also bank by phone and bank online and pay bills at www.eNorthfield.com. We're making it possible to bank with Northfleld wherever and whenever it suits our customers' busy lives," Regen stated. |
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