Home Care In Deal, NJ

By Eric D. Brophy

Transactions like Netflix’s merger with Warner Bros. always have a far-reaching impact, but for New Jersey’s growing film industry, the stakes are especially high.

In recent years, the state has become a production powerhouse, with over 550 shoots in 2024 adding $833 million in investment and more than 30,000 jobs to the state’s economy.

Netflix keeps working to ensure that this growth is just the beginning.

Last May, the company broke ground on its first major East Coast production hub at Fort Monmouth. When finished, it will house 12 cutting-edge soundstages totaling nearly 500,000 square feet with investments north of $1 billion.

Even before the studios are complete, Netflix is at work in the Garden State. Over the past year, they have filmed nearly 20 titles in the state, and they are currently shooting two feature films here, employing more than 500 people, both in front of and behind the cameras.

The economic gains from this kind of local production activity can be massive. The 64 days Netflix spent shooting “Happy Gilmore 2″ in the state added a whopping $153 million to New Jersey’s economy, what with 400 crew members, 400 local vendors, and 3,000 extras hired for the shoot.

And that’s just a single project. Last year, the company also filmed “The Rip,” “A House of Dynamite,” “The Beast in Me,” “Office Romance,” and “The Whisper Man,” all in New Jersey.

Netflix’s financial position and all-cash deal for the historic Warner assets will establish a well-financed, focused company positioned to grow, produce, and excel.

With Warner Bros., Netflix will be able to bring even more production, innovation, and local jobs to New Jersey.

The deal will create a host of creative and commercial opportunities that go beyond film and television workers, but expand to caterers, drivers, make-up artists, and many more industries.

But most importantly for New Jersey, the Warner Bros.’ Board of Directors approved the Netflix offer because, together, these two companies are committed to executing a stable, long-term plan to produce and distribute great shows and films.

For us, that equates to increased production in New Jersey and a thriving and prosperous film and television industry.

All of America stands to gain from the Netflix-Warner transaction.

For New Jersey, the stakes are even higher.

Calling your elected representative in the state Assembly or Senate is the most effective way to influence policy. To find your state Assembly member and Senator to voice your position, go to the New Jersey Legislature website’s .

Eric D. Brophy is chair of the CSG Law Government & Regulatory Law Group and former deputy chief of staff for Economic Growth for the Murphy administration.

The basics:

The latest combination of New Jersey banks will bring together Columbia Financial Inc. and Northfield Bancorp Inc. in a merger valued at $597 million.

The holding companies for Fair Lawn-based Columbia Bank and Northfield Bank of Woodbridge announced the plan Feb. 2. The deal will establish the third-largest regional bank based in New Jersey, according to the parties, with pro forma total assets of $18 billion, based on Dec. 31, 2025, financial data.

As part of the agreement, Columbia also unanimously adopted a plan to reorganize as part of a “second-step” conversion. The development will release shares representing the majority ownership of Columbia Bank MHC for sale to the public at the price of $10 per share. The bank, currently operating as a mutual holding company, will then reorganize into a fully public stock holding company and will become a wholly owned subsidiary of a new holding company formed in connection with the deal.

Under the terms, Northfield will merge into the holding company immediately following the second-step conversion. On a pro forma basis at the midpoint of the estimated valuation range for the second-step conversion based on a preliminary independent appraisal, Columbia anticipates that the merger with Northfield would be 50% accretive to Columbia’s 2027 earnings per share.

Reorganizing

Following the deal, Thomas Kemley will continue as president and CEO of the bank holding company and bank; Dennis Gibney will continue as first senior executive vice president and chief banking officer; and Thomas Splaine will continue as executive vice president and chief financial officer.

Additionally, Northfield Chairman, President and CEO Steven Klein will become senior executive vice president and chief operating officer for the combined holding company and bank. Upon completion, the new board of directors will comprise participants of Columbia as of the merger’s effective date, along with four members from Northfield, including Klein.

Directors of both banks have approved the agreement, the parties said.

“The simultaneous merger allows us to immediately leverage a portion of the capital raised and materially augment financial results,” said Kemly, expressing excitement about the deal. “Northfield has built an excellent deposit franchise with a conservative credit culture, which makes it an ideal fit with Columbia and provides great opportunities for future growth.”

Added Klein, “I have known and respected the Columbia team for nearly 40 years, and I believe this combination will create enormous value and opportunity for our team members, customers, and stockholders.”

The second-step conversion, the conversion offering and merger are expected to close in the third quarter.

Major mergers

Columbia Bank operates 71 full-service branches with total assets of more than $10.8 billion, as of Sept. 30, 2025. Founded in 1887, Northfield boasts 37 full-service locations in Staten Island and Brooklyn in New York, as well as across Hunterdon, Middlesex, Mercer and Union counties. As of Sept. 30, 2025, its total assets were over $5.7 billion.

In 2022, Columbia Bank acquired RSI Bank of Rahway. The financial institution unveiled the deal in December 2021, the same day it closed its acquisition of Freehold Bank.

The news marks the latest New Jersey bank to grow its ranks. To close out 2025, OceanFirst Bank revealed a $579 million merger of its own. The month before, regional institution Blue Foundry Bancorp and Fulton Financial Corp. said they would combine in a deal valued at approximately $243 million. And they aren’t the only ones.

U.S. News & World Report noted 52 bank mergers announced in the third quarter of 2025, the most since 2021, it said, citing S&P Global Intelligence data. The publication attributed the activity to a favorable regulatory environment along with the need to stay competitive amid a changing financial landscape.

Advisors

Keefe, Bruyette & Woods Inc., A Stifel Co., serves as financial advisor to Columbia. The firm will also act as marketing agent for the subscription and community offerings as well as the lead left book-running manager for any firm commitment underwritten offering conducted by the holding company in connection with the second-step conversion.

Raymond James & Associates Inc. serves as financial advisor to Northfield. According to the announcement, it has rendered a fairness opinion to the Northfield Board of Directors. Kilpatrick Townsend & Stockton LLP serves as legal counsel to Columbia; Luse Gorman PC is counsel to Northfield.

Four-time New Jersey State champion wrestler Anthony Knox and his father have reached plea agreements to resolve charges that arose from a brawl at a Collingswood tournament in February 2025.

Knox admitted guilt to a reduced charge of disorderly conduct at a municipal court hearing in Collingswood on Jan. 28. He was sentenced to a one-year probationary term, with his record to be cleared if he completes it successfully.

His father, Anthony J. Knox, pleaded guilty to a reduced charge of disorderly conduct and disturbing the peace. He was fined $1,000.

Defense attorney Lawrence Luttrell said the father and son, who initially faced assault charges, feel remorse over their actions in the stands at a District 25 wrestling tournament at Collingswood High School.

"This is an unfortunate incident that sort of took on a life of its own," Luttrell told Municipal Court Judge Brian Herman. He noted that the elder Knox was the longtime coach of wrestlers, including his son, from St. John Vianney High School in Holmdel, Monmouth County.

"The incident here arose because of the conduct in the crowd that was disaparaging to the kids [from St. John Vianney] and Mr. Knox's emotions got the [better] of him," Luttrell added. "He went over to say something to the crowd and that ultimately caused the incident to spiral out of control."

Luttrell said the younger Knox, who was wrestling that day, became involved after "members of the crowd descended on" his father.

Anthony Knox did not speak prior to sentencing, but his father called the incident "truly, truly unfortunate."

He said some of the spectators' remarks "just enraged me in a way that I haven't been enraged before, and I need to do a better job of controlling my emotions. ... No matter what was said doesn't make it right, so I do apologize."

Herman, noting his own past as a wrestler, urged the Knoxes "to have better control over your behavior, your emotions and your actions.

"While I'm sitting here judging you on your past behavior, society will judge you on how you move forward," the judge said. "And I certainly hope that both of you make better decision moving forward."

During his scholastic career, Knox was a four-time region champion, a four-time district champion, a three-time Shore Conference Tournament champion and a three-time Beast of the East champion. He went 147-1 for his career, was unbeaten against New Jersey wrestlers and won the final 138 bouts of his career.

Knox — now an enrolled student-athlete at Rutgers University — became New Jersey’s fifth four-time NJSIAA champion last March, with an 18-4 major decision over Bergen Catholic’s Nathan Braun in the 126-pound final.

His other state titles came at 113 pounds in 2022 and 120 pounds in 2023 and 2024.

Rutgers athletic department and head wrestling coach Scott Goodale had no comment when asked by text and email.

Contributing: Steven Falk, Asbury Park Press.

Jim Walsh is a senior reporter for the Courier-Post, Burlington County Times and The Daily Journal. Email: [email protected].

NY Islanders GM Mathieu Darche is hard at work ahead of the NHL's Olympics roster freeze, set to go into effect at 3 pm on February 4. After acquiring Carson Soucy from the NY Rangers last night for a third-round pick, the Islanders have made her dl th cos-ton rival, receiving Ondrej Palat, a 2026 third, and a 2027 sixth-round pick from the NJ Devils for Max Tsyplakov.

Palat, 34, signed a five-year contract with the Devils in 2022, with an AAV of $6M. With one more season remaining on his current deal, the Islanders will be taking on the entirety of his cap hit, as there will be no retention from the Devils.

The NY Islanders trade for Ondrej Palat

Through 51 games this season, Palat has tallied 10 points (4 G, 6A), but his value doesn't come from his offense; it comes from his experience. A two-time Stanley Cup champion with the Tampa Bay Lightning, Palat hoisted The Cup with Mathieu Darche during his time as the Lightning Assistant GM.

Heading the other way, Tsyplakov never really found his footing with the Islanders in his second NHL season. Accruing just two points (1 G, 1 A) through 27 games this season, the Russian winger has struggled mightily after a 35-point (10 G, 25 A) rookie campaign.

Neither the Soucy nor Palat trade looks glorious in their own right, but together, Darche has brought in Soucy, Palat, a sixth-round pick, and likely a higher third-round pick, while giving up just Tsyplakov.

It might not be the move to put them over the edge, but you can't say the Islanders have gotten worse over the last two days.

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The sharp ascension of Commercial Property Assessed Clean Energy (C-PACE) financing now includes a stop in the Garden State.

Developer Bart Blatstein’s Tower Investments sealed a $45.5 million loan from PACE Loan Group (PLG) to recapitalize its Island Waterpark at Showboat project in Atlantic City. It marks the first deal to close under New Jersey’s newly launched C-PACE program, Commercial Observer can first report. The water park, which opened in June 2023, is adjacent to the former Showboat casino resort property that closed in 2014.

“Being able to retroactively pay down the construction debt with C-PACE provides efficient long-term, permanent financing,” Jerry Ellis, managing director and head of loan structuring at PLG, said in a statement. “With the flexibility of C-PACE, we expect to see significant interest from New Jersey developers.”

Blatstein first outlined plans for his indoor water park in 2016 after acquiring the Showboat for $23 million. He secured a $22.1 million loan from WSFS Bank in November 2021 for the project, enabling construction to commence in 2022.

C-PACE proceeds from the latest loan were used to retroactively fund sustainability measures involving the building’s envelope, lighting, natural gas pool heaters and HVAC system.

The New Jersey C-PACE program was greenlighted in October 2024 and began taking applications in July 2025. It is administered by the Garden State C-PACE Program, which is affiliated with the New Jersey Economic Development Authority (NJEDA).

Blatstein said the loan closed in less than two months and will help achieve the firm’s business goals for the water park in 2026. He worked closely with Max Frank, project lead of the New Jersey C-PACE program, who outlined the advantages of achieving long-term sayings and flexibility through the three-year lookback component of the program

“I’ve been doing this for 48 years and it is probably the easiest loan of that size I have ever done,” Blatstein said. “We were able to get very competitive rates for long-term debt.”

The indoor water park has seen increased visitors since opening, according to Blatstein, drawing a number of people from the Philadelphia and New York City regions in addition to throughout New Jersey.

Blatstein’s indoor water park development has been touted as an example of how Atlantic City can diversify its economy beyond casinos amid increased regional gaming competition.

The New Jersey C-PACE program was greenlighted in October 2024 and began taking applications in July 2025. It is administered by the Garden State C-PACE Program, which is affiliated with the New Jersey Economic Development Authority (NJEDA).

New Jersey joined North Carolina, Idaho and Hawaii in adding active C-PACE programs last year, bringing to 40 the number of states that have enabled legislation for the financing tool, according to . Connecticut implemented the first statewide C-PACE program in 2012.

The NJEDA did not immediately return a request for comment.

Andrew Coen can be reached at .