Struggling Indian-American bank finds a buyer

BCB Bancorp in Bayonne, N.J., has agreed to buy IA Bancorp in Edison, N.J.

The $1.8 billion-asset BCB said in a press release Wednesday that it will pay $20 million in cash and stock for the parent of the $235 million-asset Indus American Bank. The purchase price includes the assumption of $7.5 million in preferred stock.


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