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United Roosevelt Savings Bank, Wawel Bank terminate merger

In New Jersey, Carteret-based United Roosevelt Savings Bank and Wawel Bank (MHC) of Garfield have mutually agreed to terminate their merger. No penalties will be paid in connection with the decision.

They attributed the termination of the August 2016 deal to the long regulatory approval process and the uncertainty of its outcome.

United Roosevelt had $97.1 million in assets as of the end of 2016; Wawel had $74.9 million.