Summit Bancorp was a bank based in

Summit, New Jersey Summit is a city in Union County, in the U.S. state of New Jersey. The city is located on a ridge in northern- central New Jersey, within the Raritan Valley and Rahway Valley regions in the New York metropolitan area. At the 2010 United Stat ...

, that operated in

New Jersey New Jersey is a U.S. state, state in the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. It is bordered on the north and east by the state of New York (state), New York; on the ea ...

Pennsylvania Pennsylvania (; (Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, Ma ...

, and

Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its cap ...

. In 2001, it was acquired by

FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America. Histor ...

History

The bank was organized in 1899. In 1968, the bank organized a Pennsylvania entity. In 1994, the company acquired the Bankers Corporation and the Crestmont Financial Corporation. In 1995, the company was acquired by UJB Financial Corporation. UJB Financial adopted the Summit Bancorp name. In 1996, the company acquired B.M.J. Financial Corporation for $164.5 million in stock. In 1997, the company acquired Collective Bancorp. In 1998, the company acquired NSS Bancorp and New Canaan Bank and Trust Company. In February 1999, the company acquired Prime Bancorp. In November 1999, the company announced layoffs of 250 people. In 2001, the company was acquired by

for $7 billion in stock. As part of the transaction, the company's trust business was sold to

The Bank of New York Mellon The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City. BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financ ...

. In 2004, Fleet was acquired by

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...

References

{{Bank of America 1891 establishments in New Jersey 2001 disestablishments in New Jersey Bank of America legacy banks Banks disestablished in 2001 Banks established in 1891 Defunct banks of the United States Defunct companies based in New Jersey