Bank Poised for Change

By Newman, Richard | The Record (Bergen County, NJ), March 11, 2014 | Go to article overview

Bank Poised for Change


Newman, Richard, The Record (Bergen County, NJ)


Short Hills-based Investors Bancorp Inc., which has four branches in Bergen and Passaic counties, expects to have a thick stack of new cash to put to work in a couple of months.

Its long-anticipated second-step stock offering, part of a two- step conversion from a mutual savings bank to stock company, was approved last month by the Federal Reserve Bank of New York. The deal could raise as much as $2.5 billion, making it the largest New Jersey bank stock sale since Paramus-based Hudson City Bancorp Inc. raised $3.9 billion in 2005.

Domenick Cama, chief operating officer, said the bank will begin taking orders for stock at the end of the month and that he expects the sale to close in early or mid-May.

Under mutual savings bank conversion rules, the bank's depositors and employee benefits plans will be first in line for the $10-a- share offer. Cama said if the benefits plans and the depositors don't grab all of the shares, the ones that remain will be offered to the public. Investors Bancorp will offer up to 251.3 million shares, according to regulatory filings.

"We will continue with our model, making more commercial loans," Cama said last week, in an interview about how the company's strategy may change after the big capital infusion. "We will continue to evolve into a full-service commercial bank."

Investors Bancorp is the parent company of Investors Bank, which has $16 billion in assets and about 130 branches, including two in Clifton, one in Lyndhurst and one in Fort Lee.

For a number of years the company has been moving away from a thrift model that focused on residential mortgage loans to concentrate on riskier but more lucrative business loans. Lately the bank has been adding commercial and industrial loans and will continue to do so, Cama said.

One change to come is an increased emphasis on fee income. To that end the company may buy an insurance agency or wealth management firm. "We will investigate that possibility," said Cama, who did not name potential targets.

However, the bank will put its primary strategy of acquiring smaller banks on hold, at least until it upgrades its transaction processing systems to accommodate its larger size and more diverse lending business. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Bank Poised for Change
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.