Provident Financial Services Inc

NYSE:PFS   4:00:00 PM EDT
22.49
+0.14 (+0.63%)
Officer Changes, Mergers / Acquisitions

Provident Financial Services & Lakeland Bancorp Combine To Create New Jersey’s Premier Super-Community Banking Franchise

Published: 09/27/2022 11:49 GMT
Provident Financial Services Inc (PFS) - Provident Financial Services, Inc. and Lakeland Bancorp, Inc. to Combine to Create New Jersey’s Premier Super-community Banking Franchise.
Lakeland Bancorp Inc - Proposed Deal for Valued at Approximately $1.3 Billion.
Lakeland Bancorp Inc - Combined Company Will Have More Than $25 Billion in Assets and $20 Billion in Total Deposits.
Lakeland Bancorp Inc - Lakeland Will Merge With and Into Provident, With Provident As Surviving Corporation.
Lakeland Bancorp Inc - Combined Company Will Trade Under Provident Ticker Symbol "pfs" on New York Stock Exchange.
Lakeland Bancorp Inc - Lakeland Bank Will Merge With and Into Provident Bank, With Provident Bank As Surviving Bank.
Lakeland Bancorp - Post Closing of Deal, Co's Shareholders to Get 0.8319 Shares of Provident Common Stock for Each Share of Lakeland Stock They Own.
Lakeland Bancorp Inc - Provident Shareholders Will Own 58% and Lakeland Shareholders Will Own 42% of Combined Company.
Lakeland Bancorp- Combined Co Will Operate Under "provident Financial Services, Inc." Name and Combined Bank Will Operate Under "provident Bank" Name.
Lakeland Bancorp Inc - Administrative Headquarters of Combined Company Will Be Located in Iselin, New Jersey.
Lakeland Bancorp - Combined Co's Board to Have Sixteen Directors, Consisting of Nine Directors From Provident and Seven Directors From Lakeland.