New Jersey-based Investors Bancorp acquired Gold Coast Bank, headquartered in Islandia, last month.
Investors, which has about $23 billion in assets and 147 branches across the tri-state area, effectively doubled its seven-branch footprint on Long Island by absorbing and renaming the seven branches of Gold Coast, which had $700 million on the books.
“This transaction strengthens Investors’ current suburban Long Island franchise and deepens our presence in this large, affluent market,” said Investors’ Chairman and CEO Kevin Cummings.
Gold Coast founder, CEO, and Chairman John Tsunis will chair the regional advisory board for Investors, and Gold Coast’s board has been offered membership in Investors’ LI board.
