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The First Banc Group, Inc. was formed in 1968 as a holding company for City National Bank and was used as a vehicle to acquire other banks. As Ohio began to gradually relax its very restrictive Great Depression era banking laws that had severely restricted bank branching and ownership, City National Bank, through its First Banc Group parent, started to purchase banks outside of its home county.
Amboy Bank was chartered on May 12, 1888 as The First National Bank of South Amboy by a group of prominent local businessmen. [4] In the late 1950s the bank began to open branches in the area, and in 1960 the name was changed to First National Bank of South Amboy-Madison Township to reflect the move of its headquarters to nearby Madison Township (later renamed Old Bridge Township [5]).
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The bank had $25 billion in deposits and $28 billion in loans and 135 brick-and-mortar branch locations including 97 in New Jersey. [38] The acquisition was delayed for 3 years due to a money laundering case involving an M&T branch and the acquisition closed on November 2, 2015. [39] [40] [41] [42]
TALLAHASSEE, Fla. – Hurricane Helene is now predicted to reach Florida as a Category 4 hurricane, part of a frightening forecast of 130-mph winds and high storm surge that brings a dire scenario ...
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Since then, it has completed deals to acquire 7 different financial institutions in New Jersey, Philadelphia, and New York City. First was the acquisition of Colonial American Bank on July 31, 2015. [7] [8] Then, in January 2016, it agreed to buy Cape Bancorp, Inc. which was a bank with 22 branches and five loans offices, for $196 million. [9]
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