Finance

Finance

By Lynda Cohen
Elmwood Park/Garfield | November 6, 2017 at 12:10 pm

6 11, 2017

Spencer Savings Bank to buy Wawel Bank for $3.4M

2017-11-08T08:30:29+00:00

Two New Jersey banks have merged. Elmwood Park’s Spencer Savings Bank will acquire Garfield’s Wawel Bank in an all-cash transaction worth about $3.4 million, or $4 per publicly held share. The agreement provides for a seamless and transparent transfer of deposits and loans from Wawel to Spencer, according to the ...

Read more

Spencer Savings Bank to buy Wawel Bank for $3.4M 2017-11-08T08:30:29+00:00
3 11, 2017

Valley National Bancorp CEO to retire; successor named

2017-11-07T11:54:12+00:00

Wayne-based Valley National Bancorp, parent of Valley National Bank, announced this week that CEO Gerald H. Lipkin and President Rudy E. Schupp are retiring this winter. Lipkin, who will retire effective Dec. 31, will be replaced by Ira Robbins, currently president of Valley National Bank. No replacement has been named ...

Read more

Valley National Bancorp CEO to retire; successor named 2017-11-07T11:54:12+00:00
2 11, 2017

Peapack-Gladstone finalizes deal for Quadrant

2017-11-02T11:13:38+00:00

Peapack-Gladstone Financial Corp. has finished acquiring Fairfield boutique financial firm Quadrant Capital Management LLC. Quadrant’s founders, Chairman Jeff Fisher and President Jim Kearney, will stay on in those positions. Their employees will also stay with the new Peapack-Gladstone Bank subsidiary, Quadrant Capital Management. "We are happy to have completed our ...

Read more

Peapack-Gladstone finalizes deal for Quadrant 2017-11-02T11:13:38+00:00
2 11, 2017

Kearny Bank to acquire Clifton Savings Bank for $408M

2017-11-06T10:23:37+00:00

The parent companies of two New Jersey banks have signed a $408 million acquisition agreement, they announced Wednesday. Fairfield-based Kearny Financial Corp., holding company for Kearny Bank, and Clifton-based Clifton Bancorp Inc., holding company for Clifton Savings Bank, said in a news release that Kearny will acquire CSBK in an ...

Read more

Kearny Bank to acquire Clifton Savings Bank for $408M 2017-11-06T10:23:37+00:00
2 11, 2017

U.S. execs see M&A staying steady; N.J. remains popular spot

2017-11-06T10:23:51+00:00

American executives expect mergers and acquisitions activity to remain steady over the next year, as companies work through a spate of recent deals, according to a new survey from EY. Ernst & Young LLP’s semiannual Capital Confidence Barometer found that 73 percent of U.S. executives see domestic M&A staying stable ...

Read more

U.S. execs see M&A staying steady; N.J. remains popular spot 2017-11-06T10:23:51+00:00
31 10, 2017

PHH promotes two to general counsel, corporate secretary

2017-10-31T11:30:37+00:00

PHH Corp. announced two management changes that will begin the new year. Madeline Flanagan will become senior vice president and general counsel for the company. She has served in that capacity for PHH’s mortgage subsidiary since 2012. “We are fortunate to have a 15-year veteran of the company and someone ...

Read more

PHH promotes two to general counsel, corporate secretary 2017-10-31T11:30:37+00:00
30 10, 2017

SBA issued $869M in loans to N.J. firms in FY17

2017-11-03T11:06:31+00:00

The state’s small business owners received a record $869 million in loans from the U.S. Small Business Administration in the fiscal year that ended Sept. 30. The increase in approved loans was nearly 33 percent over 2016, from 1,755 to 2,326, the first time in nine years the state office ...

Read more

SBA issued $869M in loans to N.J. firms in FY17 2017-11-03T11:06:31+00:00
24 10, 2017

N.J. sales tax will shrink a little in 2018, state says

2017-10-30T11:16:47+00:00

New Jersey’s sales tax will go down in the new year, according to the state Division of Taxation. The rate will decrease slightly, from 6.875 percent to 6.625 percent. This will include a reduction in Atlantic City’s luxury tax, from 12.875 percent to 12.625 percent, reflecting the state tax reduction. ...

Read more

N.J. sales tax will shrink a little in 2018, state says 2017-10-30T11:16:47+00:00
23 10, 2017

Major N.J. accounting firms Sax and Hunter Group join forces

2017-10-25T10:28:02+00:00

Sax LLP, one of the state’s largest accounting firms, has become even bigger with the acquisition of Hunter Group CPA LLC, it announced Monday. Sax, based in Clifton, will take over the Fair Lawn-based firm effective Nov. 1, it said in a news release. The resulting firm will have 30 ...

Read more

Major N.J. accounting firms Sax and Hunter Group join forces 2017-10-25T10:28:02+00:00
23 10, 2017

Read their lips: No new taxes — Accountants say it’s bad for business

2017-10-25T10:28:44+00:00

Taxes mean business for accountants. But the fact is, accountants want less of them. Ralph Thomas, who spearheads the New Jersey Society of CPAs, said a survey his organization did of accountants across the state about what they would like to see in terms of political overhaul from the next ...

Read more

Read their lips: No new taxes — Accountants say it’s bad for business 2017-10-25T10:28:44+00:00
Load More Posts