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Columbia Financial completes acquisition of Roselle Bank

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Columbia Financial completes acquisition of Roselle Bank

Fair Lawn, N.J.-based Columbia Financial Inc. (MHC) completed its acquisition of Roselle Bank.

The Roselle, N.J.-based bank was merged into Columbia Bank, a unit of Columbia Financial, under the terms of the deal. Columbia Financial issued 4,759,048 common shares to Columbia Bank MHC as part of the transaction.

RSB Bancorp MHC and RSB Bancorp Inc. were also acquired in the deal.

As of Dec. 31, 2019, Columbia Financial had total assets of $8.19 billion, and RSB Bancorp MHC had total assets of $433.2 million, according to S&P Global Market Intelligence data.

Boenning & Scattergood Inc. was the buy-side adviser in the deal, while Kilpatrick Townsend & Stockton LLP served as legal counsel. Piper Sandler Cos. served as the sell-side adviser, while Luse Gorman PC was the legal counsel.