Citizens Financial Group and Investors Bancorp expect to close the previously announced merger between the two companies on April 6.
The board of governors of the Federal Reserve and the Office of the Comptroller of the Currency approved Citizens Financial Group’s previously announced acquisition of Investors Bancorp.
Citizens Financial Group and Investors Bancorp entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash.
Investors Bancorp appointed Paul Kalamaras executive vice president and chief risk officer of both the holding company and Investors Bank. Bill Brown will take over Kalamas’ former role of chief retail banking officer.