Investors Bancorp closes Gold Coast acquisition [Seeking Alpha]
Investors Bancorp, Inc. (ISBC)
Last investors bancorp, inc. earnings: 4/29 05:40 pm
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Source: Seeking Alpha
Financials|M&AInvestors Bancorp closes Gold Coast acquisitionApr. 3, 2020 10:33 PM ETInvestors Bancorp, Inc. (ISBC)Jason AycockInvestors Bancorp (NASDAQ:closed its acquisitionOTCPK:GLDTEach share of Gold Coast common stock was converted into the right to receive (at shareholder election) $15.75 in cash, 1.422 shares of Investor Bancorp common stock or a combination (prorated to ensure that an aggregate 50% of the consideration is paid in stock).Consequently, the former Gold Coast shareholders will get a total of just under 2.8M shares of Investors Bancorp and just over $31M in cash.As of Dec. 31, Gold Coast Bank had about $559.8M in assets, $467.4M in total loans, and $465M in deposits.Click to subscribe to real-time analytics on ISBCNow read:Sabra Health Care sells two facilities for $14.4M »
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