With an overflowing pot of capital at his small New Century Bank, Jay S. Sidhu is ready to make some big deals.
The former Sovereign Bancorp Inc. chairman and chief executive is looking to buy failed banks in Pennsylvania, Maryland and New Jersey. Yet while Sidhu is an experienced acquirer, analysts said he is embarking on a tough climb, because relatively few banks are expected to fail in the region and plenty of others are ready to take them over when they do.
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