Citizens Bank Acquires Investors Bank

By Yehudit Garmaise

Citizens Financial Group recently purchased, for $3.5 billion: 154 branches of Investors Bank, which has a branch at 4624 13th Avenue.

The changing-of-hands of Investors Bank comes on the heels of Citizen Bank’s recent acquisition of all of the east coast branches of HSBC Bank, according to the Brooklyn Reporter.

Investors Bank was originally created in 1926 as the Washington Rock Building and Loan Association.

In 1942, the bank changed its name Investors Savings and Loan Association and had its own long history of acquiring other banks, such as when Investors Bank acquired the Brooklyn Federal Savings Bank in 2012.

Investors Bank is not expected to change its name next until April 1, when the second quarter begins.