Shortly after taking over, Mr. Agemian changed the bank's name to Garden State National Bank, and, a year later, merged with North Jersey National Bank of Hudson County. Because of the Federal Bank Holding Corporation Act, Warner was forced to divest its stake in the Garden State National Bank.
Immediately upon assuming control, Mr. Agemian rechristened the bank as Garden State National Bank and subsequently merged it with North Jersey National Bank of Hudson County a year later. Because of the Federal Bank Holding Corporation Act, Warner had no choice but to divest his stake in Garden State National Bank.