For north and central New Jersey consumers and businesses, as well as those in Brooklyn and Staten Island, New York, the newly completed merger of Kearny Bank and Clifton Savings Bank provides an expansion of services and opportunities.
Along with a significantly increased choice of full-service branch locations, Clifton Savings Bank will enjoy access to an expanded array of commercial loan and residential products, while Kearny Bank gains access to key urban markets, including Hoboken and Montclair, New Jersey.
“This merger is an exceptional development for all our customers,” explains Kearny Bank President and CEO Craig L. Montanaro. “Their day-to-day banking experience will essentially be unchanged, but the scope of what they’re able to do and where they’re able to do it, has significantly broadened. We’re now an even more robust financial institution and our customers reap the benefits.”
As a result of the merger, formally completed last month, Kearny Bank has become the fifth largest community bank in the New York area, based on total assets. The combined company now provides customers with a geographically and numerically wider network of ATMs. Any cross-banking ATM fees that are incurred by Kearny Bank or Clifton Savings Bank customers prior to the October establishment of a complete cross-banking relationship will be waived.
“Community banking continues to be an integral part of Main Street America and I’m extremely proud that my career makes me a part of that,” Montanaro adds. “With this merger, our company is providing true community banking excellence to an even larger number of people and businesses across the greater New Jersey and New York area. That’s a responsibility that we in this company embrace.”