Independence Community Bank Merger Rumors Swirl

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010318-independence-community-bank-merger-rumors/

Independence Community Bank Corp., a large New York banking company and oft-rumored merger target, has informally held talks with potential suitors but is not currently involved in active negotiations, sources close to the situation said on Monday.

The Brooklyn-based parent of Independence Community Bank and SI Bank & Trust, which boasts about $17.6 billion of assets and 120 branches in New York City and the surrounding suburbs, has talked with a handful of banks as part of its regular discussions with competitors, the sources said.

But with several of its most obvious potential buyers on the sidelines, the bank has no plans to initiate an auction barring an unforeseen rich bid, one source said.

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Independence Community Bank Merger Rumors Swirl

Unknown Author

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