Bank of Princeton to acquire 5 Beneficial branches in N.J.

Beneficial Bank, a wholly-owned subsidiary of Beneficial Bancorp Inc., has agreed to sell five of its branches to The Bank of Princeton, the banks announced Monday.

The Bank of Princeton will acquire the branches, which are located in Bordentown, Browns Mills, Chesterfield, Deptford and Sicklerville, with $190 million in deposits and other assets for $2.66 million.

Under the deal, which is expected to close in the second quarter of 2019, the branches will be converted to operate under The Bank of Princeton name, the banks said.

The Bank of Princeton was represented by the law firm of Stevens & Lee P.C.