Kearny Financial Corp announced the successful closing of the acquisition of Clifton Bancorp Inc. Clifton and its Clifton Savings Bank subsidiary.
Kearny Financial Corp. is the part of Kearny Bank. Kearny Bank operates from its administrative headquarters in Fairfield, New Jersey, and a total of 42 retail branch offices located throughout northern and central New Jersey and Brooklyn and Staten Island, New York.
Clifton Bancorp Inc. is a part of the Clifton Savings Bank that provides various financial services to consumers and businesses in New Jersey. It offers liquid and term deposit instruments comprising checking, business checking, high-yield checking, passbook and statement savings, and club accounts, as well as certificates of deposit. The company also provides various loans, such as owner-occupied and one-to four-family mortgage loans; multi-family and commercial real estate loans; residential construction loans; commercial lines of credit; and consumer loans, including second mortgage loans and home equity lines of credit, as well as loans secured by passbook accounts and certificates of deposit.
Strategic growth of the Kearny Financial Corp
CEO of Kearny Bank Craig L. Montanaro said that they are excited about the opportunity to expand into a number of new marketplaces in northern New Jersey while continuing to support their long-term strategic growth and diversification plans over the coming years. They are welcoming the customers, employees, and shareholders of CSBK to the Kearny bank.