New York Community Bancorp to acquire Synergy Financial Group

New York Community Bancorp Inc said it has signed a merger deal with Synergy Financial Group Inc valuing Synergy at 14.18 usd per share, or 168.4 mln usd, with Synergy shareholders receiving 0.80 of a New York Community share per share.

The proposed transaction will add 20 branches to New York Community Bancorp's franchise in New Jersey, where it currently has 32 branches, and will be immediately earnings-enhancing.

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- Posted: 2007-05-14 10:15:17

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