SHORT HILLS, N.J., Nov. 19, 2021 /PRNewswire/ -- Investors
Bancorp, Inc. (NASDAQ: ISBC) (the "Company") announced that
stockholders of the Company approved the planned merger with
Citizens Financial Group, Inc at a special meeting of the Company's
stockholders held earlier today. The transaction is expected
to close in the first half of 2022, subject to the receipt of
required regulatory approvals and other customary closing
conditions.
Kevin Cummings, Chairman and
Chief Executive Officer, commented, "We are very pleased to have
received overwhelming stockholder support for the planned merger
with Citizens. Our customers, colleagues, communities and
stockholders will benefit from Citizens' scale, capabilities and
commitment to excellence."
About Investors Bancorp, Inc.
Investors Bancorp, Inc. is the holding company for Investors
Bank, which operates from its corporate headquarters in
Short Hills, New Jersey and 154
branches located throughout New
Jersey, New York and
Pennsylvania.
Forward Looking Statements
Certain statements contained herein are "forward looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward looking statements may be
identified by reference to a future period or periods, or by the
use of forward looking terminology, such as "may," "will,"
"believe," "expect," "estimate," "anticipate," "continue," or
similar terms or variations on those terms, or the negative of
those terms. Forward looking statements are subject to numerous
risks and uncertainties, as described in the "Risk Factors"
disclosures included in our Annual Report on Form 10-K, as
supplemented in quarterly reports on Form 10-Q, including, but not
limited to, those related to the real estate and economic
environment, particularly in the market areas in which the Company
operates, competitive products and pricing, fiscal and monetary
policies of the U.S. Government, changes in government regulations
affecting financial institutions, including regulatory fees and
capital requirements, changes in prevailing interest rates, failure
to consummate the transaction with Citizens Financial Group, Inc.
for any reason, including the failure to obtain necessary
regulatory approvals (and the risk that such approvals may result
in the imposition of conditions that could adversely affect the
combined company) or failure to satisfy any of the other closing
conditions in a timely basis or at all; the diversion of
management's time from ongoing business operations due to issues
relating to the transaction with Citizens Financial Group, Inc.,
the occurrence of any event, change or other circumstances that
could give rise to the right of one or both of the parties to
terminate the merger agreement between the Company and Citizens
Financial Group, Inc., the outcome of any legal proceedings that
may be instituted against Citizens Financial Group, Inc. or the
Company, potential adverse reactions or changes to business or
employee relationships, including those resulting from the
announcement or completion of the transaction, acquisitions and the
integration of acquired businesses, credit risk management,
asset-liability management, the financial and securities markets
and the availability of and costs associated with sources of
liquidity. Further, given its ongoing and dynamic nature, it is
difficult to predict what the continuing effects of the COVID-19
pandemic will have on our business and results of operations. The
pandemic and related local and national economic disruption may,
among other effects, continue to result in a material adverse
change for the demand for our products and services; increased
levels of loan delinquencies, problem assets and foreclosures;
branch disruptions, unavailability of personnel and increased
cybersecurity risks as employees work remotely.
The Company wishes to caution readers not to place undue
reliance on any such forward looking statements, which speak only
as of the date made. The Company wishes to advise readers that the
factors listed above could affect the Company's financial
performance and could cause the Company's actual results for future
periods to differ materially from any opinions or statements
expressed with respect to future periods in any current statements.
The Company does not undertake and specifically declines any
obligation to publicly release the results of any revisions that
may be made to any forward looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
Investor Relations Contact
Investors Bancorp, Inc.
Contact: Marianne Wade
(973) 924-5100
investorrelations@investorsbank.com
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SOURCE Investors Bancorp, Inc.
