Columbia Bank, MHC, Columbia Financial, Inc. (NASDAQ: CLBK) and Columbia Bank (collectively, “Columbia”), and RSB Bancorp, MHC, RSB Bancorp, Inc. and Roselle Bank (collectively, “Roselle”) announced today the signing of a definitive merger agreement. Under the terms of the merger agreement, depositors of Roselle will become depositors of Columbia Bank and will have the same rights and privileges in Columbia Bank, MHC, the mutual holding company parent of Columbia Bank, as if their accounts had been established in Columbia Bank on the date established at Roselle. As part of the transaction, Columbia Financial, Inc. will issue additional shares of its common stock to Columbia Bank, MHC in an amount equal to the fair value of Roselle as determined by an independent appraiser. These shares are expected to be issued immediately prior to completion of the merger. In addition, following the completion of the merger, Columbia and Columbia Bank Foundation will support the charitable organizations serving the communities currently served by Roselle. Roselle Bank is a savings bank that was established in 1889 and operates four banking offices in Union, Somerset and Hunterdon Counties. As of September 30, 2019, Roselle Bank had total assets of $442 million, loans of $171 million, deposits of $338 million and equity capital of $61 million. Columbia has offered full employment to all Roselle employees, excluding those with existing change-in- control agreements with Roselle, and has agreed to add one current member of Roselle’s Board of Directors to Columbia Bank’s Board of Directors following the completion [...]
About Zenja QuarlesThis author has not yet filled in any details.
So far Zenja Quarles has created 6 blog entries.
High-achieving students receive recognition for strong academic performance and community involvement Roselle, NJ – Roselle Bank, which has served central and northern New Jersey for nearly 130 years, has awarded the Outstanding Business Student Award to two high school seniors who have excelled in the areas of business and finance while demonstrating a commitment to community service. Jessica Smith of Ridge High School received the award as a result of her passion for business and finance. Enrolled in relevant classes like Personal Finance, Entrepreneurship and Business Education, Jessica has simultaneously held various employment positions during her academic career. Jessica plans on attending Raritan Valley Community College this fall. Additionally, Jolver Machuca of Abraham Clark High School was presented the award for his success in his finance classes. Jolver aspires to be a CEO at a large corporation in the future. This fall, Jolver will attend Union County College to begin his collegiate education. “Jessica and Jolver have demonstrated academic excellence and a consistent dedication to their studies,” said Jeffrey R. Schneider, Vice President, Business Development Officer for Roselle Bank. “We are proud to honor these students for their accomplishments and encourage them to maintain this work ethic in the future.”
Series of celebrations mark milestone, as well as grand reopening showcasing recent renovations. Roselle, NJ -- Roselle Bank, which has served central and northern New Jersey for 130 years, celebrated its 130th anniversary and marked the completion of renovations to its main office branch and operations center buildings with an array of recent events. Each of the bank’s four branches hosted celebrations for community members and held networking events for regional business leaders and professionals, during which Roselle was recognized for its successful rebranding efforts and continued attentiveness to local financial needs. The Roselle location kicked off the festivities with a ribbon-cutting ceremony celebrating not only the overall rebranding but also the redesigned individual branch. To commemorate the milestone, Roselle Bank received a proclamation from the State of New Jersey from Assemblyman Jamal Holley during a ceremony attended by Roselle Mayor Christine Dansereau. Other community leaders, including mayors, attended the professional networking events at the bank’s remaining branches. The Community Appreciation events were open to the public and included instant cash giveaways for the first several dozen adults in attendance. Also, the bank hosted an enter-to-win sweepstakes for an Amazon Fire Stick; the event also launched a weeklong promotion in which those opening a qualifying checking or e-checking account received a bonus. Simultaneously, Roselle Bank celebrated the completion of a number of renovations to its main office branch and operations center, featuring a new 24-hour walk-up ATM and a 24-hour drive-up ATM at 108 West Third Avenue. The updates [...]
Donations Emphasize Bank’s Pattern of Philanthropic Dedication Roselle, NJ -- Roselle Bank, which has served central and northern New Jersey for 130 years, has made donations to local food pantries: The Open Cupboard Food Pantry, the Flemington Food Pantry and the North Hunterdon Food Pantry. The donations demonstrate Roselle Bank’s longstanding commitment to philanthropic efforts and community service initiatives. Among the organizations that Roselle Bank donated to is Open Cupboard Food Pantry, a private non-profit agency serving northern Hunterdon County. The organization is rooted in the goal of filling the very basic need of food for those that are disadvantaged. Founded in 1993, the Open Cupboard Food Pantry will utilize the bank’s generous donation to buy perishables such as meat, produce and dairy products in addition to other groceries. Roselle Bank also donated to the Flemington Food Pantry, a volunteer organization which provides food and personal care items to Hunterdon County families in need. The Pantry, founded in 1982, provides supplemental groceries to approximately 1,200 income qualified Hunterdon County families including underemployed hardworking adults, veterans, families with children, and seniors who simply cannot make ends meet. Roselle Bank’s donation will help the Pantry obtain supplies for such individuals and families in need. The North Hunterdon Food Pantry accepted a donation from Roselle Bank as well. Located in Lebanon Township, the Pantry serves 25-30 families in need with fundamental food supplies. Roselle Bank’s donation will help support the Pantry’s initiatives as the organization continues to better the lives of underserved [...]
Bank acknowledged for charitable initiatives, awarded with recognition plaque at conference Roselle, NJ -- Roselle Bank, which has served central and northern New Jersey for nearly 130 years, has received special recognition in the NJBankers’ 2018 Community Service Award program. The bank was chosen as one of seven recipients from a total of 38 entries statewide. Chosen by a committee from the New Jersey Chapter of the Public Relations Society of America, Roselle Bank was selected on its record of past projects and community activities throughout the state in 2018. Roselle Bank’s President and CEO, Detlef H. Felschow, was presented with a recognition plaque at the NJBankers’ 115th Annual Conference on May 3. Each year, NJBankers sponsors the Community Service Award Program to celebrate the its members’ philanthropic endeavors, and shares these efforts with representatives of New Jersey’s governing bodies. This highlights the active role the banking industry plays in sustaining and improving communities throughout the state. “We are extremely honored to receive this prestigious recognition by NJBankers,” said Detlef H. Felschow, President & CEO of Roselle Bank. “The award is a testament to our philanthropic efforts, as well as our ongoing presence as a mainstay in the communities we serve.”
Roselle, NJ -- Roselle Bank, which has served central and northern New Jersey for nearly 130 years, has announced the addition of a new ATM drive-up at its Roselle location. The new drive-up teller and ATM at 108 West Third Avenue is the first of two ATMs to be installed at the bank’s Roselle locations in an effort to improve overall customer experience. The second ATM is scheduled to be installed at their 235 Chestnut Street branch later this spring, rounding out the bank’s modernization initiative that started with the addition of ATMs at their High Bridge and Cranford branches. Equipped with the latest security enhancements, the ATM allows for efficient, no-envelope check deposits with detailed receipts that include check images. Accessibility features like a unique tilt screen to accommodate vehicle height and 24/7 availability further facilitate ease of use. The addition of such amenities is a result of Roselle Bank’s recent renovations and strategic repositioning as more than a savings bank. With the aim of better convenience, the bank continues to make strides in achieving a facilitated and hassle-free banking experience for customers. A ceremonial first withdrawal ceremony was held at the new ATM early last month with one of the bank’s long-standing customers. “The addition of the new ATMs and other amenities to our bank positions us better than ever to provide the bank’s customers with a seamless banking experience,” said Detlef H. Felschow, President & CEO of Roselle Bank.