Archive for July, 2009

NJCB posts a strong 2nd Quarter 09′

Wednesday, July 29th, 2009

As we move through the mid-point of 2009, a time when many banks have lost their way, and most banks are reeling from mismanagement, NJCB continues set the example for the nation…

Our smart, stable and strong growth has continued to produce impressive results…

  • Our Assets have grown $50 million dollars to $473 million dollars over the first quarter
  • Our Deposits have grown $52 million dollars to $396 million dollars over the first quarter
  • Our Loans have grown $21 million dollars to $343 million dollars over the first quarter

Understanding that our objective is always healthy and smart profit growth, NJCB has posted its most profitable quarter since our inception. Coming at time of continuing expansion, and after paying a significant one time FDIC assessment levied on all banks, we continue to not only preserve capital, with no non-performing loans, but we have consistently increased our book value per share…This distinction is significant and sets us apart from most of our competitors.

The second quarter saw some exciting developments, including the acquisition of Citizens Community Bank in Ridgewood, now our seventh branch, and the starting of Residential Mortgage Division.  The Ridgewood location has created a logical geographic expansion into a vibrant, affluent and business friendly neighborhood.  Our new Mortgage Division, which is also headquartered in Ridgewood and run by Thomas Cosentino, has already begun to generate new business, fee income, and broaden our relationship with our customers.

Internally we continue to expand our product set with new additions such as Positive Pay, International Currency Transactions, ACH origination, Lockbox, Secured Credit Cards, and many more… For more information on these or any of our products please stop in or call us.

While, we still see many challenges in this marketplace, we are continuing to find ways to convert these challenges into new opportunities for NJCB. We appreciate the support and business from our shareholders, customers, and friends, and all the help in continuing to make a NJCB “A Better Place to Be.”

Have you checked your Bank Statement lately??

Monday, July 13th, 2009

While the “Too Big to Fail” Banks make the news each and every day on issues ranging from TARP to Compensation, the real story of what is happening to the consumer goes unnoticed.

Have you checked your bank statement lately? Chances are that you are experiencing some of the following:

  • Higher Fees on bank services
  • Higher Interest Rates on Credit Cards & Loans
  • Termination of Credit
  • Termination of products (such as Passbook Saving Accounts)
  • Additional Fees on existing products
  • Branch closures with inconvenient relocations
  • Relocation of your safe deposit box
  • Loss of your experienced Bank Representatives
  • Complete, intentional disruption of longtime relationships

 The same banks that disregarded their customers are now requiring that they pay for management’s poor decisions, and reckless risk taking.

 Certainly at North Jersey Community Bank, we have always put our customers first; and do not take advantage of these times, because we can… We are interested in the long term picture, in enduring client relationships, and in keeping true to our mission of being “A Better Place to Be.”

 What has your bank done?  Do you have a personal relationship with your banker? Have you invested the time to create a relationship with a bank that understands your business, knows your history, and can react to the changes occurring in your environment?

 It is important today to not take for granted your banking relationship, especially if your bank has taken you for granted…

 There are over 7000 Community Banks in this country that are ready, willing and able to put their customers first; after all, that is the only way they know how to do it…