Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year. The deal should be "significantly accretive" to Prudential's earnings per share…
source http://www.americanbanker.com/news/dealmaking-strategy/prudential-bancorp-to-buy-polonia-in-pennsylvania-1081316-1.html
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