Michael Shriner named CEO of New Jersey's BCB Community Bancorp
American Banker
DECEMBER 29, 2023
The community banking veteran will succeed Thomas Coughlin, who spent nine years as CEO of the Bayonne, New Jersey-based bank.
After merger fails, TD inks smaller community plan in New Jersey
American Banker
AUGUST 14, 2023
The Canadian bank committed Monday to lending and investing over $2 billion in the Garden State's lower-to-middle income communities over the next three years. A $50 billion, multi-state agreement was scrapped earlier this year after TD failed to get approval to buy First Horizon Corp.
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Trending Sources
The New Jersey Community Bank Flying High in PPP Ranking
Banking Exchange
JUNE 10, 2020
Cross River Bank’s partnerships with more than 30 fintech companies has enabled it to loan more than PNC, US Bank and Trust Community Banking PPP Covid19 Feature Financial Trends Duties Feature3 The Economy.
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New York To Sunbelt State Tourists: Stay Home
PYMNTS
JUNE 24, 2020
With coronavirus infection rates soaring in the Sunbelt, the governors of New York, Connecticut and New Jersey are teaming up to slap a 14-day quarantine on travelers from states where the deadly virus is spiking. New York Gov. Andrew Cuomo, New Jersey Gov. Phil Murphy and Connecticut Gov.
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NJ-based Provident Bank upgrades digital channels amid pandemic
Bank Innovation
MARCH 30, 2020
For one community bank 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.
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Linkbancorp selling New Jersey operations to credit union
American Banker
MAY 10, 2024
American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
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7 ways community banks can boost profitability
Independent Banker
AUGUST 31, 2021
Here’s what community bankers need to know when planning their budgets for the next year. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation. By Cheryl Winokur Munk. Quick stat. Source: 2021 Provident Bank survey.
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Fresh off deal closing, Provident in New Jersey to shutter branches
American Banker
JUNE 13, 2024
The bank said it would reduce its physical footprint by nearly 15% as part of an effort to reduce overlapping operations, drive cost savings and meet profitability targets tied to its May acquisition of Lakeland Bancorp.
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Fundation Pulls Community Bank Into FinTech Collaboration
PYMNTS
JULY 3, 2019
Large financial institutions (FIs) are increasingly turning to FinTech firms and alternative lenders to augment their small business (SMB) offerings, but community banks are beginning to get on board with the partnership strategy , too.
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Carolina community lenders to merge, Fiserv adds tech to Newark arena
American Banker
FEBRUARY 2, 2024
Dogwood State Bank and Community First Bancorp plan an all-stock deal to create a $2.2 billion bank, technology firm Fiserv announces a partnership with the National Hockey League's New Jersey Devils, former Texas secretary of state will join Cullen/Frost's board and more in our weekly banking news roundup.
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Community Banks Voice Frustration With Core Tech Providers
PYMNTS
APRIL 12, 2019
Community banks are voicing their frustration with what they say is a lack of competition in the market for corporate bank technology providers, reports in The Wall Street Journal said Thursday (April 11). Community banks say their services are often too expensive and can sometimes be delayed.
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How One Community Bank’s RTP Journey Offers A Path For Others
PYMNTS
JANUARY 11, 2021
PYMNTS' latest Real-Time Payments Report done in collaboration with The Clearing House looks at the matter through numerous use cases, none more informative than that of New Jersey-based community bank Cross River , with its enthusiastic embrace of real-time payments (RTP). If only enthusiasm were enough.
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New Jersey Community Exits Consent Orders, Swaps Out Directors
American Banker
AUGUST 9, 2016
New Jersey Community Bank in Freehold has exited a pair of regulatory orders. The $102 million-asset bank also said in a press release Tuesday that two siblings have resigned from its board.
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Kearny expanding in northern New Jersey with MSB purchase
American Banker
DECEMBER 19, 2019
The company will pay $94 million for a bank with operations in New Jersey's Somerset and Morris counties.
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Valley National Bank, heavy on CRE, is confident despite investor worry
American Banker
FEBRUARY 15, 2024
Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.
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When a bank fails after engaging in redlining, who's responsible?
American Banker
OCTOBER 31, 2024
New Jersey officials want both the acquirer of its remains, Fulton Bank, and the FDIC to assume some responsibility. Republic First Bank allegedly discriminated against minority borrowers before it went under in April.
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Popular Celebrates 127 Years of Service to our Communities
PopularBank
OCTOBER 2, 2020
When we first opened our doors, we did so with a great sense of purpose and a vision to make a difference within our communities. I am proud to share that Popular’s commitment to meeting the diverse and growing needs of our customers and communities across all our regions is stronger than ever before.
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First Bank in New Jersey gets regulatory approvals to close deal in Philly
American Banker
JULY 7, 2023
The acquisition of Malvern Bancorp, expected to close this month, would hasten First Bank's efforts to further fortify its footprint stretching from Philadelphia to New York City.
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New litigation challenges CFPB’s subpoena authority based on Fifth Circuit decision holding CFPB’s funding mechanism is unconstitutional
CFPB Monitor
NOVEMBER 16, 2022
As the industry continues to digest the Fifth Circuit’s opinion in Community Financial Services Association of America, Ltd. Defendants in several other CFPB enforcement actions are currently seeking dismissal of the actions based on Community Financial Services Association.). In a motion filed in the U.S.
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DOJ announces settlement of redlining lawsuit
CFPB Monitor
OCTOBER 4, 2022
The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. According to the DOJ , the settlement represents the third-largest redlining settlement in the DOJ’s history.
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SBA Struggling To Meet Demand For Relief Loans
PYMNTS
APRIL 8, 2020
“The expectation that this $2 trillion package would go through Congress and that the money would be flowing three days later, that was never a realistic expectation,” said Patrick Ryan, the chief executive of First Bank, a New Jersey lender. Further, community banks are nearly out of cash. But I get why people are frustrated.”.
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First Citizens, CIT Group Merger Will Create $100B Bank
PYMNTS
OCTOBER 16, 2020
“This is a transformational partnership for First Citizens and CIT, designed to create long-term value for all of our constituents, including our stockholders, our customers, our associates and our communities,” said Frank Holding Jr. chairman and CEO of First Citizens, roles he will keep in the combined company. .
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Popular Bank’s Commitment to Our Customers and Communities
PopularBank
MAY 1, 2020
Dear Customers, Partners and Community Members, Thank you for being part of our Popular Bank family. In these uncertain times, we are all working together to navigate our new normal. While these are unprecedented times, our long-standing commitment to you and our communities has prepared us well.
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New Jersey bank swims against the tide in growing its wealth business
American Banker
MARCH 13, 2024
Peapack-Gladstone's wealth unit is pursuing an ambitious de novo expansion in New York and perhaps elsewhere because M&A has become expensive as private equity money has inflated seller expectations.
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New Jersey banks extend deadline to close their $1.3 billion merger
American Banker
DECEMBER 21, 2023
Provident Financial in Iselin initially anticipated completing its deal for Oak Ridge-based Lakeland Bancorp in the second quarter. Now as it waits for regulatory approval, Provident says the process will stretch into spring 2024.
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Popular Bank Issues Small Business Recovery Grants
PopularBank
AUGUST 12, 2020
Grant Program Provides Relief to Non-profit Organizations and Small Businesses in New York and New Jersey Significantly Impacted by COVID-19. We are proud to stand behind our customers and communities during this challenging time. New Jersey. Statewide Hispanic Chamber of Commerce of New Jersey.
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Wawa To Construct Drive-Thru-Only Convenience Store In PA
PYMNTS
AUGUST 4, 2020
“We appreciate the opportunity to partner with Falls Township officials, who are providing us with the approvals and support of this newly designed store format that will be of benefit to the community,” he added. The chain also operates stores in New Jersey, Delaware, Maryland, Virginia and Washington, D.C.
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Popular Foundation Awards $216,000 in Grants to Nonprofit Organizations
PopularBank
DECEMBER 22, 2020
Grants Will Benefit Communities Throughout New York, New Jersey, South Florida and Chicago. The grants ranged between $5,000-$22,000 and will continue to support critical community programming amid the ongoing COVID-19 health crisis. Since 2004, the Popular Foundation has awarded over $2.9
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Today In Retail: L’Occitane’s US Division Files For Chapter 11; AutoFi Rolls Out Division For Corporate Clients
PYMNTS
JANUARY 26, 2021
Plus, a new Federal Reserve Bank of New York study finds that individuals anticipate that the economy will rebound by next year. division has filed for Chapter 11 bankruptcy in New Jersey. From Community Hubs To In-Store Theater, Retailers Double Down In Digital At NRF. L’Occitane’s U.S.
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New condo safety laws: Three things community associations should consider
PopularBank
DECEMBER 7, 2022
Florida’s new condo safety laws at-a-glance. The new legislation, SB 4-D, primarily focuses on the following requirements. Building inspections are required for community buildings in all 67 counties in Florida that are three or more stories in height. Mandatory building inspections. Adequately funded reserves.
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New Jersey’s $5B American Dream Mall To Reopen In October
PYMNTS
SEPTEMBER 4, 2020
The wait is over for shoppers who have missed the $5 billion American Dream Mall in East Rutherford, New Jersey. The news follows the reopening of the shopping center’s indoor ski park Tuesday (Sept. Last week, New Jersey Gov. On Thursday (Sept. 1, NorthJersey.com reported.
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Grocery Roundup: New Amazon Fresh Store, SpartanNash Puts Incentives In ‘Fast Lane,' Walmart On Autonomous Delivery
PYMNTS
NOVEMBER 12, 2020
Here are the latest developments in new store concepts, ordering and delivery from various big names in the sector: Amazon To Open Amazon Fresh Store In New Jersey. Amazon is growing its brick-and-mortar footprint for Amazon Fresh with a New Jersey outpost for the concept.
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OceanFirst chief eyes possible merger of equals next year
American Banker
DECEMBER 29, 2020
Chris Maher recently unloaded loans hurt by the coronavirus shock, convinced he was freeing the New Jersey company of baggage that could impede a large M&A deal. This assertive move makes him one of our community bankers to watch in 2021.
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NXTsoft Welcomes New Customer North Jersey Federal Credit Union
Bobsguide
JUNE 16, 2022
NXTsoft is excited to welcome our newest customer North Jersey Federal Credit Union, who is using OmniConnect API Connectivity to save time and money. Headquartered in Totowa, New Jersey, North Jersey Federal Credit Union (NJFCU) has been serving its members and their communities since 1936.
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Popular Bank Named Among First Investors of NWK FAM Fund
PopularBank
OCTOBER 13, 2020
The new investment vehicle aims to economically empower Black and Latinx business owners throughout the City of Newark. NWK FAM Fund Seeks to Narrow the Wealth Gap in New Jersey. Popular Bank will serve as an initial corporate partner alongside organizations including AT&T, Panasonic and New Jersey Community Capital. “We
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Cannabis Companies Would Be Eligible For COVID-19 Relief Under Bill
PYMNTS
APRIL 24, 2020
But 34 members of Congress, spearheaded by Blumenauer and Barbara Lee of California, Don Young of Alaska and Tom McClintock of California, argued in a letter that the pandemic was no time to treat cannabis companies as if they are an exception to the many other sources of financial and economic stability of their communities.
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New Jersey bank hit with consent order tied to BSA compliance
American Banker
JULY 14, 2020
Unity Bancorp must improve its policies and procedures, and increase staff training, for following Bank Secrecy Act and anti-money laundering laws.
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CFPB Acting General Counsel addresses “confusion” caused by CFPB advisory opinion on earned wage access program
CFPB Monitor
JANUARY 21, 2022
Frotman’s letter responds to a letter sent to him by the representatives regarding proposed New Jersey legislation that would provide that certain EWA products would not be treated as loans under New Jersey law.
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Provident Financial expanding in New Jersey with $1.3 billion deal
American Banker
SEPTEMBER 28, 2022
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Amazon Is Building A Traditional Supermarket In LA
PYMNTS
FEBRUARY 19, 2020
And Austin wasn’t the only locality that saw its Amazon access expanded — the good people of New Jersey will soon have not one, but two new Amazon stores in the real world. The ideas that receive enough votes from the community will be considered by the Instacart team.
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Three Small US Banks Collapse Over Past Month
PYMNTS
NOVEMBER 18, 2019
1 when City National Bank of New Jersey closed its three branches with assets of about $120.6 Louisa Community Bank of Louisa, Kentucky also shuttered on Oct. As of June 30, Louisa Community Bank had approximately $29.7 The most recent failure was on Nov. million and deposits totaling $111.2 It had one branch with $27.1
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Starbucks Opening Two New Locations To Boost Minority Business
PYMNTS
MAY 30, 2017
Starbucks announced that it will open stores in Dallas, Texas and Trenton, New Jersey as part of its program to invest in at least 15 underserved communities across the nation by 2018. According to Chain Store Age , the store in Dallas will open in spring 2018, while the one in Trenton will open later this year.
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Popular Bank Implements Branch Realignment in the New York Metro Region to Enhance Focus on Communities and Small Business Support
PopularBank
OCTOBER 28, 2020
Popular is committed to meeting the needs of our customers and communities, guided by our 127-year legacy. This realignment in our New York Metro market is consistent with our small business and retail services model in South Florida,” said Popular, Inc. “We
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Bancorp of New Jersey Hires Former State Regulator as Chief
American Banker
APRIL 6, 2016
Bancorp of New Jersey in Fort Lee has hired a former state regulator as its new chief executive.
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