Brooklyn Federal Savings Bank To Be Absorbed by Investors Bank
The circa-1880 Brooklyn Federal Savings Bank, which has two branches and an office building in Brooklyn, is being acquired by Investors Bank, identified as Investors Bancorp Inc. and based in Short Hills, N.J.
Its branches, five in all — the other three are in Wantagh, Commack and Islandia on Long Island — will open on Monday, Jan. 23, with new Investors Bank signage.
“Investors Bancorp’s acquisition of Brooklyn Federal adds five branches to our branch network and approximately $390 million of deposits, which complements our expansion into New York,” said Kevin Cummings, president and CEO of Investors. “We are committed to providing Brooklyn Federal’s customers with the same high level of service to which they have become accustomed.”