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Columbia Financial/Stewardship Financial deal receives regulatory approvals

The Federal Reserve Board, the Office of the Comptroller of the Currency and the New Jersey Department of Banking and Insurance approved the proposed acquisition of Midland Park, N.J.-based Stewardship Financial Corp. by Fair Lawn, N.J.-based Columbia Financial Inc. (MHC).

The transaction is expected to close Nov. 1. Under the terms of the deal, Stewardship Financial unit Atlantic Stewardship Bank will merge into Columbia Bank (MHC) upon deal closing.