ISBC - Citizens Financial sees completing Investors Bancorp deal by mid-April

Citizens Financial Group (NYSE:CFG) and Investors Bancorp (NASDAQ:ISBC) have received the required regulatory approvals for Citizens' acquisition of Investors and expect the transaction to close by mid-April. The deal was approved by the Federal Reserve Board on Tuesday. It also received the go-ahead from the Office of the Comptroller of the Currency, the companies said. The acquisition of Investors (ISBC) follows Citizen's (CFG) purchase of HSBC's East Coast branches and brings the bank into the New York City metro and New Jersey regions. "The addition of these two businesses strengthens our franchise across the Northeast, significantly adding to our growth potential," CFG Chairman and CEO Bruce Van Saun. The two banks agreed to the $3.5B cash-and-stock deal in July. SA contributor Stephen Simpson expects a positive transformation at Citizens (CFG).

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Citizens Financial sees completing Investors Bancorp deal by mid-April