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.
Shortly after taking over, Mr. Agemian renamed the bank to Garden State National Bank, and a year later, combined it with North Jersey National Bank of Hudson County. Due to the Federal Bank Holding Corporation Act, Warner was compelled to sell his shares in Garden State National Bank.