Investors Savings Bank, a subsidiary of New Jersey-based Investors Bancorp Inc., which acquired several Millennium bcpbank in March, will sell a local branch.

The company said it completed the acquisition of 17 branches from Millennium bcpbank, and entered into a definitive agreement to sell the Millennium branch locations in Massachusetts to Domestic Bank, which will soon be changing its name to Admirals Bank, headquartered in Cranston, R.I. The four branches, with deposits of approximately $85 million, will be sold for a premium of 0.11 percent, according to a statement

Upon completion of the acquisition, Investors has approximately $9.4 billion in assets, $6.7 billion in deposits and 82 branch locations.

"This is an important transaction for us," said Investors Savings Bank’s President and Chief Executive Officer Kevin Cummings. "We are looking forward to enhancing and expanding the existing Millennium customer relationships and providing the world class service all of our customers are accustomed to."

Millennium operates branch offices in New Bedford, Fall River and Ludlow; Union, Newark, Perth Amboy, Long Branch, Elizabeth, Kearny and Lyndhurst, N.J; and Queens and Long Island, N.Y.

Investors Bancorp Inc. operates from its corporate headquarters in Short Hills, N.J., and has 65 branch offices throughout New Jersey.