Ion Bank to merge with NVE Bank.

Ion Bank, a Connecticut-based personal and business banking corporation, agreed to merge with NVE Bank, an independent community mutual bank. Financial terms were not disclosed. “NVE Bank has been serving its customers and communities in Bergen County, New Jersey, for the past 137 years. The combination with Ion Bank, another strong mutual financial institution with over 150 years of successful growth in Connecticut and New Jersey, was a great opportunity for us to continue serving our customers with a larger platform, offering more branch locations and a greater suite of products and services,” Mr. Rey, NVE Bank President and CEO.