Investors Bancorp and Roma Financial Corporation Announce Merger Agreement

  Investors Bancorp and Roma Financial Corporation Announce Merger Agreement

PR Newswire

SHORT HILLS, N.J., Dec. 19, 2012

SHORT HILLS, N.J., Dec. 19, 2012 /PRNewswire/ --Investors Bancorp, Inc.
(NASDAQ:ISBC) ("Company"), the holding company for Investors Bank, and Roma
Financial Corporation (NASDAQ:ROMA), the federally-chartered holding company
for Roma Bank, today jointly announced the signing of a definitive merger
agreement. Roma Financial Corporation, MHC (Roma MHC), a federally chartered
mutual holding company, owns approximately 74.5% of Roma Financial
Corporation. As of September 30, 2012, Roma Financial Corporation operated 26
branches in Burlington, Ocean, Mercer, Camden and Middlesex counties, New
Jersey, and had assets of $1.84 billion, deposits of $1.49 billion and
stockholders' equity of $218.8 million.

Under the terms of the merger agreement, 100% of the shares of Roma Financial
will be converted into Investors Bancorp common stock. Each outstanding share
of Roma Financial common stock, including shares owned by Roma MHC, will be
converted into 0.8653 shares of Investors Bancorp common stock upon completion
of the merger. The transaction is valued at $15.00 per Roma Financial common
share based on Investors Bancorp's average closing stock price for the ten-day
trading period ending on December 18, 2012. Shares to be issued to Investors
Bancorp MHC, representing the stock held by Roma MHC, would be reissued in a
possible future second step conversion by Investors Bancorp. Upon closing of
the merger, Investors Bancorp expects to issue 25,875,411 shares of common
stock, including 19,541,701 shares to Investors MHC. The aggregate merger
consideration to be received by Roma Financial minority shareholders is $113.5
million.

Three members of Roma Financial Corporation's board of directors will be
appointed to the board of directors of Investors Bank and its holding
companies. The remaining Roma Board members will serve on an Advisory Board.

Under the terms of the merger agreement, Roma MHC will merge into Investors
Bancorp, MHC (Investors MHC), with Investors MHC surviving, to be followed by
the merger of Roma Financial Corporation into Investors Bancorp, with
Investors Bancorp surviving, and the merger of Roma Bank into Investors Bank,
with Investors Bank surviving. Depositors of Roma Bank will become depositors
of Investors Bank, and will have the same rights and privileges in Investors
MHC as if their accounts had been established in Investors Bank on the date
established at Roma Bank. The merger has been approved by each company's board
of directors and is anticipated to close in the second quarter of 2013,
subject to the approval of Investor Bancorp and Roma Financial shareholders,
Roma MHC members, regulatory approvals and other customary closing
conditions.

It is anticipated that RomAsia Bank, a subsidiary that is 91% owned by Roma
Financial, will merge into Investors Bank.

Kevin Cummings, President and Chief Executive Officer of Investors Bank,
stated that, "We are pleased to enter into this partnership with Roma Bank.
The Roma Bank branch network complements our presence in Central and Southern
New Jersey and provides a strong foothold in the greater Philadelphia market.
Roma Bank's customers can look forward to an enhanced array of products and
services delivered with the same high level of service Roma Bank provides."

Mr. Cummings also commented on the merging of two mutual holding companies,
"We are excited about the uniqueness of this transaction and this combination
of two mutual holding companies. We believe it will enhance the value of a
potential second step conversion by Investors Bancorp."

Peter A. Inverso, President and Chief Executive Officer of Roma Financial
Corporation, commented, "Investors is a well-managed, community-oriented
institution which, like Roma Bank, distinguishes itself with its focus on
customer service. The breadth of Investors' product offerings will allow us to
maintain, expand and enhance services and products for our customers."

Michele Siekerka, Chair of the Board of Directors of Roma Financial, added:
"We are all very pleased to be joining with Investors. This transaction
opens up many new opportunities for our shareholders, our community, our
employees and our customers."

Investors Bancorp was advised in this transaction by, Stifel Nicolaus Weisel
and received a fairness opinion from RBC Capital Markets, LLC. Luse, Gorman,
Pomerenk & Schick, P.C. acted as legal counsel to Investors Bancorp. Sandler
O'Neill + Partners, L.P. acted as financial advisor to Roma Financial
Corporation and Spidi & Fisch, P.C. acted as its legal counsel.

Conference Call / Investor Presentation

Investors Bancorp, Inc. will hold a conference call regarding this
announcement on Thursday, December 20, 2012 at 8:30 a.m. eastern time. The
toll-free dial-in number is: 888-317-6016. A telephone replay will be
available on December 21, 2012 from 1:00 p.m. (ET) through March 21, 2013,
9:00 a.m. (ET). The replay number is 877-344-7529 password 10022723. The
conference call will also be simultaneously webcast on the Company's website
www.myinvestorsbank.com and archived for one year. A copy of the investor
presentation will be available on the Company's website
www.myinvestorsbank.com.

About Investors Bancorp

Investors Bancorp, Inc. is the holding company for Investors Bank, which
operates from its corporate headquarters in Short Hills, New Jersey, and over
one hundred branch offices located throughout northern and central New Jersey
and New York.

About Roma Financial Corporation

Roma Financial Corporation is the holding company of Roma Bank, a community
bank headquartered in Robbinsville, New Jersey, and RomAsia Bank headquartered
in South Brunswick, New Jersey. Roma Bank operates branch locations in Mercer,
Burlington, Camden and Ocean counties in New Jersey.RomAsia Bank has two
branch locations in Middlesex County, New Jersey.

Forward Looking Statements

This press release may contain forward-looking statements regarding Investors
Bancorp Inc. and Roma Financial Corporation. These statements constitute
forward-looking information within the definition of the Private Securities
Litigation Reform Act of 1995.

Actual results may differ materially from any forward-looking statements
expressed in this press release, since forward-looking information involves
significant known and unknown risks, uncertainties and other factors. Factors
that may cause actual results to differ materially from those contemplated by
such forward-looking statements include, among others, the following: failure
to satisfy the conditions to closing for the proposed merger in a timely
manner or at all; failure of the Roma Financial or Investors stockholders to
approve the proposed merger; failure to obtain the necessary governmental
approvals for the proposed merger or adverse regulatory conditions in
connection with such approvals; disruption to the parties' businesses as a
result of the announcement and pendency of the transaction; difficulties
related to the integration of the businesses following the merger;
competitive pressures among depository and other financial institutions;
changes in the interest rate environment; and changes in general economic
conditions, either nationally or regionally. For a discussion of additional
factors that might cause such differences, please refer to Investors Bancorp's
and Roma Financial's public filings with the Securities and Exchange
Commission. These are available online at http://www.sec.gov. Neither
Investors Bancorp nor Roma Financial undertakes to update any forward-looking
statements made in this press release to reflect new information, future
events or otherwise.

Investors will be filing a registration statement on Form S-4 containing a
joint proxy statement/prospectus and other documents regarding the proposed
transaction with the SEC.

Investors and Roma Financial stockholders and investors are urged to read the
joint proxy statement/prospectus when it becomes available, because it will
contain important information about Investors and Roma Financial and the
proposed transaction.

When available, copies of the joint proxy statement/prospectus will be mailed
to stockholders. Copies of the joint proxy statement/prospectus also may be
obtained free of charge at the SEC's web site at http://www.sec.gov, or by
directing a request to Investors Bancorp, Inc., Attention: Corporate
Secretary, 101 JFK Parkway Short Hills, New Jersey 07078, or on its website at
www.myinvestorsbank.com, or to Roma Financial Corporation, Attention:
Corporate Secretary, 2300 Route 33, Robbinsville, New Jersey 08691 or on its
website at www.romabank.com. Copies of other documents filed by Investors or
Roma Financial with the SEC may also be obtained free of charge at the SEC's
website or by directing a request to Investors or Roma Financial at the
address provided above.

Investors Bancorp, Inc. and Roma Financial Corporation and certain of their
directors and executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of Investors and Roma Financial
in connection with the proposed merger. Information about the directors and
executive officers of Investors is set forth in the proxy statement, dated
April 14, 2012, for Investors' 2012 annual meeting of stockholders, as filed
with the SEC on Schedule 14A. Information about the directors and executive
officers of Roma Financial is set forth in the proxy statement, dated March
14, 2012, for Roma Financial's 2012 annual meeting of stockholders, as filed
with the SEC on Schedule 14A. Additional information regarding the interests
of such participants and other persons who may be deemed participants in the
transaction may be obtained by reading the joint proxy statement/prospectus
included in the Form S-4 when it becomes available. This press release does
not constitute an offer to sell or the solicitation of an offer to sell or the
solicitation of an offer to buy any securities.



SOURCE Investors Bancorp, Inc.

Website: https://www.myinvestorsbank.com
Contact: Domenick Cama ISBC, +1-973-924-5105, dcama@myinvestorsbank.com
 
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