SHORT HILLS, N.J. and PRINCETON, N.J., Jan. 24, 2017 /PRNewswire/ -- Investors Bancorp, Inc. (NASDAQ: ISBC), the holding company for Investors Bank, and The Bank of Princeton (PRIVATE: NJ) today announced that they have entered into a Mutual Termination Agreement to terminate their merger agreement, which was entered into as of May 3, 2016. The parties concluded that regulatory approval of the application submitted by Investors Bank to the Federal Deposit Insurance Corporation would not be obtained prior to the March 31, 2017 termination deadline set forth in the merger agreement. The Mutual Termination Agreement provides, among other things, that each party will bear its own costs and expenses in connection with the terminated transaction, without penalties, and mutually releases the parties from any claims of liability to one another relating to the merger transaction.
About Investors Bancorp
Investors Bancorp, Inc. is the holding company for Investors Bank, which operates from its corporate headquarters in Short Hills, New Jersey and 148 branches located throughout New Jersey and New York. As of September 30, 2016, Investors Bancorp had total assets of $22.5 billion, total deposits of $15.0 billion and stockholders' equity of $3.1 billion.