American Bancorp, Investors Bancorp merger set to close on May 31

By Lisa Kerner

Charlotte, N.C., May 19 - American Bancorp of New Jersey, Inc. said its stockholders approved the company's merger with Investors Bancorp, Inc. at American Bancorp's annual meeting on Tuesday.

The merger is expected to close on May 31, American Bancorp said.

Also at the meeting, shareholders elected Joseph Kliminski to a four-year term on the board of directors and ratified the appointment of Crowe Horwath LLP as American Bancorp's independent registered public accounting firm for the year ending Sept. 30, 2009, according to an American Bancorp.

In December, Investors Bancorp announced it agreed to acquire American Bancorp in a stock-and-cash transaction originally valued at $12.50 per share, or $140 million.

American Bancorp stockholders could elect to receive either 0.9218 of a share of Investors Bancorp common stock, cash or a combination of stock and cash for each American Bancorp share, subject to proration, under the companies' amended merger agreement.

Investors Bancorp, located in Short Hills, N.J., is a holding company for Investors Savings Bank, a New Jersey chartered savings bank.

American Bancorp is the holding company for American Bank of New Jersey, a federally chartered stock savings bank based in Bloomfield, N.J.

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