Day Pitney Represents 1st Constitution Bancorp in its Acquisition of Shore Community Bank

June 24, 2019

Day Pitney LLP represented 1st Constitution Bancorp in connection with its merger agreement with Shore Community Bank, pursuant to which 1st Constitution will acquire Shore in a stock and cash transaction valued at $16.54 per share, or approximately $53.1 million in total consideration. The merger has been unanimously approved by the boards of directors of both institutions, and is anticipated to be completed during the fourth quarter of 2019. Upon the closing of the transaction, Shore will merge with and into 1st Constitution Bank.

Shore operates five banking offices in northern and central Ocean County and has assets of $274 million, loans of $212 million and deposits of $240 million as of March 31, 2019. Following the completion of the merger, 1st Constitution will have approximately $1.5 billion in assets, $1.1 billion of loans and $1.2 billion of deposits, with 26 full-service banking offices located in Bergen, Middlesex, Monmouth, Mercer, Ocean and Somerset Counties, New Jersey.

The Day Pitney team is led by partner Scott Warren Goodman and includes Frank E. Lawatsch, Jr., David P. Doyle, Jaclyn M. D' Esposito, Christopher M. Rogers, Luke S. Pontier and Anthony M. Wildasin.

To view the company's official press release, click here.

Recommended

Federal Tax Institute of New England

October 24, 2019

Partners Edward Krzanowski, Tiana Gianopulos and Daniel Gottfried spoke at the 2019 Federal Tax Institute of New England, a CLE program presented by the Estates and Probate Section and the Tax Section of the Connecticut Bar Association and held in Portland, CT.

October 29, 2019

Federal Tax Institute of New England, Portland CT

Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change

On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.

January 27, 2019

Acquire or Be Acquired, Bank Director's Annual Conference, Phoenix, AZ

Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection

Brian Fischer spoke on "Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection," at an Exit Planning Exchange (XPX) Hartford program.

January 16, 2019

Exit Planning Exchange (XPX), Hartford, CT

Bank Director's Acquire or Be Acquired

Michael Rave will be speaking at Acquire or Be Acquired, an annual conference presented by Bank Director magazine being held in Phoenix from January 28 – 30.

January 30, 2018

Acquire or Be Acquired, Phoenix, AZ

Economic Leadership Forum

On January 19, Michael Rave will be speaking at the Economic Leadership Forum, presented by the New Jersey Bankers Association.

January 19, 2018

Economic Leadership Forum, Somerset, NJ

Day Pitney Receives Top Rankings in U.S. News – Best Lawyers “Best Law Firms”

November 12, 2019

Day Pitney Press Release

Firm Ranked Tier 1 Nationally for Energy Law and Trusts and Estates Law

Day Pitney Represents Planet Fitness, Inc. in its Expansion to Australia

November 8, 2019