INVESTORS BANCORP, INC. (NASDAQ:ISBC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
The information set forth in Item 1.02 is incorporated by
reference herein.
reference herein.
Item 1.02 Termination of a Material Definitive Agreement.
On January 24, 2017, Investors Bancorp, Inc. (the Company),
Investors Bank and The Bank of Princeton (BOP) entered into a
Mutual Termination Agreement (the Termination Agreement) to
terminate the Agreement and Plan of Merger, dated as of May 3,
2016 (Merger Agreement), between the Company, Investors Bank
and BOP. The parties concluded that regulatory approval of the
application submitted by Investors Bank to the Federal Deposit
Insurance Corporation would not be obtained prior to the March
31, 2017 termination deadline set forth in the merger
agreement. Each party will bear its own costs and expenses in
connection with the terminated transaction, without penalties.
The Termination Agreement also mutually releases the parties
from any claims of liability to one another relating to the
merger transaction.
Investors Bank and The Bank of Princeton (BOP) entered into a
Mutual Termination Agreement (the Termination Agreement) to
terminate the Agreement and Plan of Merger, dated as of May 3,
2016 (Merger Agreement), between the Company, Investors Bank
and BOP. The parties concluded that regulatory approval of the
application submitted by Investors Bank to the Federal Deposit
Insurance Corporation would not be obtained prior to the March
31, 2017 termination deadline set forth in the merger
agreement. Each party will bear its own costs and expenses in
connection with the terminated transaction, without penalties.
The Termination Agreement also mutually releases the parties
from any claims of liability to one another relating to the
merger transaction.
The foregoing summary of the Termination Agreement is not
complete and is qualified in its entirety by reference to the
complete text of the Termination Agreement, which is attached
as Exhibit 10.1 hereto and incorporated herein by reference in
its entirety.
complete and is qualified in its entirety by reference to the
complete text of the Termination Agreement, which is attached
as Exhibit 10.1 hereto and incorporated herein by reference in
its entirety.
A description of the terms of the Merger Agreement was included
in Item 1.01 of the Current Report on Form 8-K filed by the
Company on May 4, 2016 and to the extent required by Item 1.02
of Form 8-K, the description of the Merger Agreement is
incorporated by reference.
in Item 1.01 of the Current Report on Form 8-K filed by the
Company on May 4, 2016 and to the extent required by Item 1.02
of Form 8-K, the description of the Merger Agreement is
incorporated by reference.
Item 9.01. Financial Statements and Exhibits.
(a)
|
Not Applicable.
|
(b)
|
Not Applicable.
|
(c)
|
Not Applicable.
|
(d)
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Exhibits
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Exhibit No.
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Description
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Exhibit 10.1
|
Mutual Termination Agreement by and among Investors
Bancorp, Inc., Investors Bank and The Bank of Princeton, dated as of January 24, 2017. |
Exhibit 99.1
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Press Release dated January 24, 2017.
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INVESTORS BANCORP, INC. (NASDAQ:ISBC) Recent Trading Information
INVESTORS BANCORP, INC. (NASDAQ:ISBC) closed its last trading session up +0.15 at 14.16 with 1,678,883 shares trading hands.