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* Citizens Financial Group , Inc. ™ Citizens Media : Peter Lucht - 781.655.2289 Citizens Investor Relations : Kristin Silberberg 203.900.6854 Investors Media : Dorian Hansen - 973.924.5100 Citizens Financial Group , Inc. Announces Agreement to Acquire Investors Bancorp , Inc. Solidifies Citizens ' banking franchise serving communities in the greater New York City and Philadelphia metropolitan areas and across New Jersey Adds approximately $ 27 billion in total assets , $ 20 billion in deposits * , and an attractive commercial and consumer customer base PROVIDENCE , RI and SHORT HILLS , NJ ( July 28 , 2021 ) Citizens Financial Group , Inc. ( NYSE : CFG or " Citizens " ) and Investors Bancorp , Inc. ( NASDAQ : ISBC ) ( " Investors " ) announced today that they have entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash . The acquisition of Investors enhances Citizens ' banking franchise , adding an attractive middle market / small business and consumer customer base while building its physical presence in the northeast with the addition of 154 branches * located in the greater New York City and Philadelphia metropolitan areas and across New Jersey . The acquisition complements Citizens ' recently announced acquisition of HSBC East Coast branches and national online deposits which is expected to close in first quarter 2022. The combined Citizens franchise will operate across some of the most attractive retail and commercial banking markets in the United States characterized by large and dense population centers , areas of high - income households and centers of robust business activity . • Includes Investors ' pending acquisition of 8 Berkshire Hills branches . " The acquisition of Investors , following on the heels of the acquisition of HSBC's East Coast branches , further strengthens our formidable franchise in the northeast , together adding roughly one million customers and boosting our near and long - term growth potential , " said Bruce Van Saun , chairman and chief executive officer of Citizens . " We are confident in our ability to successfully integrate these acquisitions , and to over time deliver the same attractive offerings to customers and strong financial performance in the New York City metro region and New Jersey as we do in other major metro areas we serve . "