Announced
Completed
Financials
Tags
Merger
Majority
Public
Acquisition
Single Bidder
Friendly
holding company
banking
Banks
United States
Completed
Domestic
Synopsis
Provident Financial, the parent company of Provident Bank, completed the merger with SB One Bancorp, the parent company of SB One Bank, in a $209m deal. “We are excited about our partnership with SB One. This business combination provides attractive financial attributes to shareholders of both Provident and SB One. At $12bn in assets, the combined company comfortably surpasses the $10bn asset threshold and provides Provident a clear management succession plan with the addition of a very skilled leader and banker in Tony Labozzetta, who will serve as President and Chief Operating Officer of the combined company,” Christopher Martin, Provident Chairman and CEO.
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