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Subsequent Event
6 Months Ended
Jun. 30, 2012
Subsequent Events [Abstract]  
Subsequent Event

 

Note 5. Subsequent Event

 

On August 1, 2012, Union Center National Bank (the "Bank") assumed all of the deposits and acquired certain assets of Saddle River Valley Bank, a New Jersey State-chartered bank, pursuant to the terms of the Purchase and Assumption Agreement, dated as of February 1, 2012, among the Bank, Saddle River Valley Bank and Saddle River Valley Bancorp.

 

The Bank assumed approximately $85.6 million in deposits and $87.2 million in loans and securities from Saddle River Valley Bank.