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Deal Overview

Buyer:
Oritani Financial Corp. (MHC)
Actual Acquirer:
Oritani Savings Bank (MHC)
Target:
Greater Community Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
11/13/2007
Announcement Date:
11/14/2007
Announced Deal Value ($ M):
187.52
Status:
Terminated
Completion Date:
3/19/2008
Announced Deal Value Per Share ($ )
21.40

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 261.3 NA
Price / Tangible Book (%) 312.2 NA
Price / Earnings (x) 34.5 NA
Price / Deposits (%) 24.76 NA
Price / Assets (%) 19.12 NA
Tangible Book Premium/ Deposits (%) 18.78 NA
Deal Terms
Description of Consideration

Oritani Financial Corp. (MHC) would have paid $21.40 per share in cash or stock for each outstanding share of Greater Community Bancorp, subject to 60% of consideration being paid in stock. Options would have been exchanged for cash.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) 21.50
Estimated Cost Savings ($ 000) 5,617
Est. Restructuring Charges ($ 000) 12,600
Maximum Termination Fee ($ 000) 6,600
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 22,456
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes FinPro Inc.
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Luse Gorman PC
Seller Yes Quarles & Brady LLP
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