PARSIPPANY — Thomas Coughlin, President and Chief Executive officer of BCB Bancorp, Inc. the holding company of BCB Community Bank, is pleased to announce that BCB Bancorp has entered into a merger agreement with IA Bancorp, Inc.,parent company of Indus American Bank.
Indus American Bank is located at 1452 Route 46, and is a member of the Parsippany Area Chamber of Commerce.
The merger, expected to be completed by the end of the year, will strengthen the ties both banks have to the South Asian Business Community. In recognition of this relationship, all Indus-American Bank branches will operate as BCB – Indus American Bank.
Coughlin stated, “BCB is excited to be partnering with IAB and Indus-American Bank. Indus-American Bank’s branch locations complement BCB’s current locations. BCB will continue Indus-American Bank’s commitment of service to its customers and its communities.”
BCB Community Bank and Indus American Bank share similar service areas in New Jersey and New York and have a like approach to highly personalized customer service and community involvement, according to Coughlin.
Mark D. Hogan, Chairman of the Board of Directors of BCB Bancorp, commented, “We are extremely excited and pleased to welcome Indus-American customers and employees to BCB. Our partnership with Indus-American is consistent with BCB’s strategic plan of executing smart growth via expansions and organic branching. This transaction will allow the combined entities to further develop our existing markets in Jersey City and Edison, and will provide further opportunities in Parsippany, Plainsboro and Hicksville, New York, three new attractive markets for BCB.”
BCB Community Bank operates 22 full-service branches in Bayonne, Carteret, Colonia, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lodi, Lyndhurst, Monroe Township, Rutherford, South Orange, Union and Woodbridge, New Jersey, and two branches in Staten Island, New York.
Indus-American Bank operates five full-service branches in Edison, Jersey City, Parsippany and Plainsboro, New Jersey, and Hicksville, New York.
