Kearny Monetary Corp. and MSB Monetary Corp. – the holding firm for Millington Bank – are set to shut a merger that may create a mixed firm with roughly $7.37 billion in belongings.
On Thursday afternoon, Kearny and MSB introduced receiving all shareholder and regulatory approvals or waivers for the merger of MSB into Kearny, following a particular assembly of the previous’s shareholders to approve the deal, held that very same day.
The merger is anticipated to shut early in 2020’s third quarter, topic to the satisfaction of customary closing situations.
On the Thursday assembly, MSB shareholders accredited, on a nonbinding advisory foundation, potential compensation for named government officers of the corporate in reference to the deal.
The events entered the merger deal, valued at greater than $94 million, in December. In response to the banks, upon completion the mixed firm will boast 50 full service banking areas.