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For one communitybank in New Jersey, its digital overhaul came at a crucial time, and Provident Bank has been pushing its digital capabilities to customers during the novel coronavirus pandemic since revamping its online banking earlier this month.
Independent Banker’s annual listing top-performing communitybanks of 2021 alongside interviews with some of the winners. In true communitybank fashion, each has its own story to tell and its own path to success. In true communitybank fashion, each has its own story to tell and its own path to success.
The Peoples Bank helped the Jones family of Legacy Dairy in Hiseville, Ky., From left, Ally Jones; bank chairman, president and CEO Terry L. Last year, communitybank loan producers were faced with both record-low interest rates and a glut of deposits. The bank provides crop insurance to farmers in 11 states.
I recently spoke at a NJ Bankers Association event about the things I learned this recession (see blog post regarding subject). My company does line of business and product profitability reporting for communitybanks. Since writing that missive, I realized I left one out.
Not many investors complained about the old Commerce Bank (NJ) efficiency ratio of 70+% when they were delivering 20+% profit growth. I would say, however, that banks with <$500MM in total assets have unique challenges relating to technology investments, stock liquidity, and management succession that will make things difficult.
Although communitybanks did not lend to sub-prime borrowers in any meaningful way, did we participate? In many respects, communitybanks were caught in the cross-fire through the purchase of those mbs instruments – and subsequent trial through public sentiment. We were concerned about the panic.
Digital banking solutions for communitybanks and credit unions. A turnkey solution incorporating CRM, invoicing and payments into a simple solution for the business delivered through the bank’s digital banking solution. That SOUNDS like a Georgia bank but I bet it’s in New Jersey. MalauzaiMonkeys.
Banks have rushed to the exits when it comes to Fannie Mae and Freddie Mac debt securities. Federal liquidity rules seem to be prompting big banks to do so, but why small banks are unloading the bonds, too, is more of a puzzler.
Weakness in the energy sector and a surge in new construction are pushing up vacancy rates at offices and hotels, leading to a spike in delinquencies on loans tied to them. The safer bet, bankers say, is lending on industrial properties.
Banco do Brasil, the largest bank by assets in South America, wants to make more of a name for itself in the United States. It expects a new online banking platform to help draw mainstream consumers, and says an expansion from South Florida into the Northeast is likely.
OceanFirst Bank in Toms River, N.J., now has extra reason to cheer for the Monmouth University men’s basketball team that was in the running for an NCAA tournament berth last season.
Sun Bancorp’s third-quarter profit declined, as the Mount Laurel, N.J., recorded almost $3 million of one-time gains a year ago. Sun’s expenses, however, continued to improve.
billion-asset company said in a press release Tuesday that its second-quarter earnings rose 4.7% from a year earlier to $3 million, or 16 cents a share.
That is Fred Viaud's goal for Glen Rock Savings Bank in New Jersey, which on Tuesday said he would be promoted to president and CEO next week. Get out of the red six months from now.
Sussex Bancorp in Rockaway, N.J., has raised $15 million by selling fixed- to floating-rate subordinated notes to an institutional investor. It did not name the investor.
The $22 billion-asset company said in a press release Thursday that it is looking to sell 8.4 million shares of common stock, though it could sell another 840,000 shares if there is enough demand.
His unusual approach to banking helped Sussex emerge from the financial crisis with momentum. Now he's building a branch model that could serve as a blueprint for growth-minded banks. Anthony Labozzetta, CEO of Sussex Bancorp in New Jersey, isn't afraid of change.
The appointment, however, shouldn't force any changes in his firm's holdings or its investment in the banking sector. The billionaire investor will soon step down from the New Jersey company's board as he prepares to become Commerce secretary.
His unusual approach to banking helped Sussex emerge from the financial crisis with momentum. Now he's building a branch model that could serve as a blueprint for growth-minded banks. Anthony Labozzetta, CEO of Sussex Bancorp in New Jersey, isn't afraid of change.
billion-asset parent of Sun National Bank, said independent director Anthony Coscia will serve as chairman of both starting Dec. Sun Bancorp in Mount Laurel, N.J.,
A small New Jersey bank that is a so-called rent-a-charter partner of more than a dozen marketplace lenders has raised millions of dollars from some household names in the venture capital world.
As banks grow and their business models become more complex, some find that adding a general counsel to the staff makes sense. Bank SNB in Stillwater, Okla., says hiring one allowed it to reduce its legal fees by 80%. Here are the pros and cons.
The $4 billion-asset company said in a press release Friday that the notes will bear an initial fixed interest rate at 5.1%. The debt will mature in 2026.
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