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Investors Bancorp Inc. buying Bank of Princeton for $154M

ShortHills, N.J.-based Investors BancorpInc. ($21.19 billion) agreed to acquire Princeton, N.J.-based ($1.04 billion)in a cash-and-stock deal valued at $154 million.

Bankof Princeton will merge with and into Investors Bancorp unit Investors Bank.

Sixtypercent of Bank of Princeton's common shares will be converted into Investors Bancorpcommon stock and the remaining 40% will be exchanged for cash.