New Jersey has a continuously evolving banking landscape. Of note, the holding company for Short Hills-based Investors Bank yesterday reported net income of $34.4 million for the three months ended March 31, 2014, compared to net income of $27.2 million for the three months ended March 31, 2013. Investors continues to be a growth company in the Garden State, and now has more than 1,500 employees, over 100 branches in the state, and three, large operating facilities in Short Hills, Iselin and Robbinsville.
On January 10, 2014, Investors completed its acquisition of Gateway Community Financial Corp. In a prepared statement, Kevin Cummings, Investors’ president and CEO, comments on the quarter: “The first quarter 2014 continued to be a busy time at Investors. We closed the Gateway acquisition in January 2014 and continued to integrate the Roma Financial acquisition that took place in December 2013 by converting their data processing platform during the quarter. Our earnings were strong as we continue to grow and diversify our balance sheet while improving our level of non-performing loans.”Related Articles: