Two New Jersey-based financial institutions, Provident Financial Services, the parent company of Provident Bank in Iselin, and Lakeland Bancorp of Oak Ridge on Wednesday said they have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals.
Both parties remain committed to the merger and to obtaining regulatory approvals.
In September 2022, the two banks announced they entered into a definitive agreement to merge, creating a top-tier community bank in New Jersey and the tri-state area with $25 billion in assets and $20 billion in total deposits.
The combined bank, which will run under the Provident Bank name, will be headquartered in Iselin and led by CEO Anthony Labozzetta, the current CEO of Provident Bank.
