FLORENCE, NJ-Roebling Bank has been purchased by TF Financial Corp. for $14.5 million.
The 90-year-old bank is being acquired by TF Financial of Newtown, PA, the parent of 3rd Fed Bank.
The purchase involves all five Roebling bank branches in Florence (2), New Egypt, Westampton and Delran. The deal, which is a combination of stock and cash, was announced last Friday. All Roebling branches will remain open and will operate as branches of 3rd Fed Bank.
R. Scott Horner, president and CEO of Roebling Bank, says the search for a merger partner began this past summer. The combined bank will have assets of more than $850 million. See story in the Times of Trenton.
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