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The state Department of Banking has approved Naugatuck-based Ion Bank’s pending purchase of a small New Jersey lender.
Ion’s deal to purchase Lincoln 1st Bank was approved on June 16, and the parties expect to close the deal at the start of the third quarter, according to the state Department of Banking.
Ion Bank last year entered an agreement to acquire Lincoln 1st Bank for $7.5 million and merge their operations.
Ion Bank, which has branches in Waterbury, Prospect, Middlebury, Watertown, Oxford, Cheshire, Woodbury, Southbury, Ansonia, Hamden, Wallingford, Farmington, South Windsor and Meriden.
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The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
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