Southern Brooklyn

Citizens Bank buys Investors Bank

February 25, 2022 Theodore W. General
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After recently acquiring the east coast branches of HSBC Bank, Citizens Financial has bought 154 branches of Investors Bank at a reported cost of $3.5 billion. This acquisition includes the three neighboring units known as the “Bay Ridge cluster,” located at 8724 Fourth Ave., 7826 Fifth Ave. and 7123 Third Ave. It remains to seen whether they keep all three branches operational.

It’s amazing to view a financial institution originally founded in 1926 as the Washington Rock Building and Loan Association, which changed its name in 1942 to Investors Savings and Loan Association, and has a long history of acquiring many former banks, including the old Brooklyn Federal Savings Bank in 2012. Now it’s losing its own identity.

Citizens Bank at 9201 Third Ave.

Banks seem very eager to set up shop in Bay Ridge, I suspect in part due to the many automobile showrooms here, the frequent real estate sales and the need for loans to pay high property taxes.

You probably won’t see the bank’s signature change to Citizens until the second quarter of this year. 

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The Wicked Monk Irish pub at 9510 Third Ave. is ready for the wearing of the green and a toast or two of Guinness in celebration of St. Patrick’s Day. 

The Wicked Monk at 9510 Third Ave.

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