This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Investors Bancorp, Inc. To Acquire Marathon Banking Corporation From Piraeus Bank S.A.

Investors Bancorp was advised in this transaction by RBC Capital Markets, LLC, and received a fairness opinion from Stifel Nicolaus Weisel.  Luse, Gorman, Pomerenk & Schick, P.C. acted as legal counsel to Investors Bancorp.  Keefe, Bruyette & Woods acted as financial advisor to Piraeus Bank S.A. and Linklaters acted as its legal counsel.

Conference Call / Investor Presentation

Investors Bancorp, Inc. will hold a conference call regarding this announcement on Friday, June 15, 2012 at 10:30 a.m. eastern time.  The toll-free dial-in number is: 877-317-6789.  A telephone replay will be available on June 15, 2012 from 1:00 p.m. (ET) through September 17, 2012, 9:00 a.m. (ET). The replay number is 877-344-7529 password 10015278.  The conference call will also be simultaneously webcast on the Company's website www.myinvestorsbank.com and archived for one year. A copy of the investor presentation is available on the Company's website www.myinvestorsbank.com.

About Investors Bancorp, Inc.

Investors Bank, headquartered in Short Hills, New Jersey, is a full-service community bank that has been serving customers since 1926.  With $11.3 billion in assets and a network of over 85 retail branches, Investors delivers personalized services and products tailored to the needs of its customers. Investors' consumer banking services include complete deposit products, online banking, home equity loans and lines of credit and a full array of mortgage loans.  Serving the business community, Investors provides deposit accounts, cash management services, business loans and lines of credit, and commercial real estate financing solutions to small and middle market companies, professional services firms, municipalities and other businesses. Investors is a member of the FDIC and an Equal Housing Lender. For more information, contact Investors at 855-422-6548 or visit www.myinvestorsbank.com.

About Marathon Banking Corporation

Marathon Banking Corporation is the holding company for Marathon National Bank of New York.  Marathon National Bank of New York provides a full range of financial services to customers through 13 banking offices located in the boroughs of Queens, Brooklyn, Manhattan, Nassau and Richmond County, New York and in Fort Lee, New Jersey.

About Piraeus Bank S.A.

Piraeus Bank Group ( www.piraeusbank.gr) was founded in 1916 and was listed on the Athens Stock Exchange in 1918. The Bank operated through a period of private-ownership and management and in 1975 it passed to state-ownership until 1991, when it was privatized again. Since then, Piraeus Group has become one of the most dynamic and active organizations in the Greek economy. At the end of March 2012, the Group possessed a network of 732 branches (328 in Greece and 404 internationally) and employed 10,946 people (6,047 and 4,899 respectively). Piraeus Bank Group, combining business operations and social responsibility, endorses systematically its relations with its social partners through specific actions, while emphasis is placed on the protection of the natural and cultural environment.

Forward-Looking Statements

This news release contains forward-looking statements. These forward-looking statements may include: management plans relating to the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction; the ability to obtain any required regulatory, stockholder or other approvals; any statements of the plans and objectives of management for future or past operations, products or services, including the execution of integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project" and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Neither Investors Bancorp, Inc. nor Marathon Banking Corporation assume any duty and do not undertake to update forward-looking statements. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those that Investors Bancorp, Inc. or Marathon Banking Corporation anticipated in its forward-looking statements and future results could differ materially from historical performance. Factors that could cause or contribute to such differences include, but are not limited to, the possibility: that expected benefits may not materialize in the timeframe expected or at all, or may be more costly to achieve; that the transaction may not be timely completed, if at all; that prior to the completion of the transaction or thereafter, Investors Bancorp, Inc.'s or Marathon Banking Corporation's respective businesses may not perform as expected due to transaction-related uncertainty or other factors; that the parties are unable to successfully implement integration strategies; that required regulatory, stockholder or other approvals are not obtained or other closing conditions are not satisfied in a timely manner or at all; reputational risks and the reaction of the companies' customers to the transaction; diversion of management time on merger-related issues; and those factors and risks referenced from time to time in Investors Bancorp, Inc.'s filings with the Securities and Exchange Commission. For any forward-looking statements made in this press release or in any documents, Investors Bancorp, Inc. and Marathon Banking Corporation claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,017.79 -80.66 -0.47%
S&P 500 1,996.56 -6.81 -0.34%
NASDAQ 4,580.6320 +0.3610 0.01%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs