ALLENTOWN, PA--(Marketwired - Jun 7, 2013) -  Ambassador Financial Group, Inc. is pleased to announce that it has acted as financial advisor and provided the fairness opinion to Haven Bancorp, Inc., in regards to its agreement to acquire Hilltop Community Bancorp, Inc. in an all cash transaction. The transaction is expected to close in the fourth quarter of 2013, subject to customary closing conditions. These conditions include receipt of regulatory approvals and approval by Hilltop Community stockholders.

Haven Bancorp, the acquirer, is headquartered in Hoboken, New Jersey. Its primary subsidiary, Haven Savings Bank, had assets of $694 million as of March 31, 2013. Haven Savings Bank operates six banking offices in Bergen, Essex, Hudson and Union counties. Hilltop Community Bancorp, the acquiree, is headquartered in Summit, New Jersey and had assets of $168 million as of March 31, 2013. Its primary subsidiary, Hilltop Community Bank, operates three full service banking offices in Union and Morris counties.

This is Ambassador Financial Group's eighth transaction announced in the last two years. These transactions include whole bank acquisitions, branch sales and acquisitions of fee businesses.

  • Haven Bancorp (NJ) $27 million acquisition of Hilltop Community (NJ)
  • Riverview Financial Corporation (PA) consolidation of Union Bancorp (PA)
  • MVB Financial Corporation (WV) $19 million acquisition of Potomac Mortgage Group, LLC (VA)
  • NBT Bancorp (NY) $233 million acquisition of Alliance Financial Corporation (NY)
  • Old Line Bancorp (MD) $49 million acquisition of WSB Holdings (MD)
  • ESSA Bancorp (PA) $24 million acquisition of First Star Bancorp (PA)
  • Capital Bank (MD) branch sale to DNB First, NA (PA)
  • Canandaigua National Corporation (NY) acquisition of OBS Holdings (NY)

Ambassador's M&A expertise can assist financial institutions seeking to acquire, identify an exit strategy, or find a strategic partner. For acquirers, we identify candidates, determine an appropriate deal structure, create pro-forma models and lead negotiations. For those considering an exit, we identify potential acquirers and determine their level of interest, ability to pay and ability to close. We also prepare an information memorandum, contact those that have been determined to have the greatest potential, and negotiate on behalf of our client. For those seeking a strategic partner, we employ our experience to develop solutions to social, management, and corporate culture issues to facilitate a mutually beneficial, value-enhancing combination.

At Ambassador, our goal is to assist our clients in achieving their strategic goals. We do this by offering personalized service along with a comprehensive suite of capital market services that encompass balance sheet management, investment banking, and investor relations.

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