NJ's First Bank, Heritage Community To Merge

Law360, New York (July 12, 2013, 3:54 PM EDT) -- New Jersey regional lenders First Bank and Heritage Community Bank have agreed to a stock-for-stock merger, with the new company holding more than $500 million in assets and roughly $475 million in consumer deposits, the banks announced Friday.

The deal calls for Heritage Community shareholders to receive roughly 0.45 shares of First Bank stock for each Heritage Community share. Hamilton, N.J.-based First Bank will issue more than 875,000 new shares of stock to complete the deal, it said.

The boards of both companies have unanimously approved...
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