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| Atlantic Stewardship Bank |
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Stewardship Financial Corporation Named to Sandler O'Neill Sm-All Stars - Class of 2008
Stewardship Financial Corporation, parent company of Atlantic Stewardship Bank, recently announced it is one of the top 33 banks and thrifts, out of 574 small-cap depository institutions nationwide, named to the Sandler O'Neill Sm-All Stars -- Class of 2008.
The objective of the Sm-All Stars is to identify the top-performing small-cap banks and thrifts in the nation. By identifying this group, Sandler O'Neill hopes to provide investors with a narrow list from which to uncover the next crop of leading mid-cap banks and thrifts and, most importantly, expose them before the rest of Wall Street discovers them. Sandler O'Neill notes that 52% of the Class of 2008 Sm-All Stars are currently covered by one or fewer Wall Street firms. Additionally, institutional ownership for this group is fairly low at 26%.
Sandler O'Neill included all 574 publicly traded banks and thrifts with a market cap of less than $2 billion in its evaluation to indentify the small-cap depository institutions that stand out from the pack. Numerous screens were applied before awarding Sm-All Star status. Sandler O'Neill focused its analysis on growth, profitability, credit quality, and capital strength. The institutions selected for the Class of 2008 are outstanding, delivering bottom line results that are markedly better than the industry as a whole.
The dynamics of the Sm-All Stars Class of 2008 have changed dramatically since the report was first published four years ago. The downturn in the credit cycle over the last several quarters has resulted in a clear shift in the make-up of Sm-All Star members. In past years, many Sm-All Stars came from high-growth states, such as California. This year, with the collapse of the California real estate market, not a single Sm-All Star comes from this state. In fact, most 2008 members are from East Coast states where the local economies have held up better than in other parts of the country.
"We are pleased with our inclusion in the Sandler O'Neill Sm-All Stars Class of 2008," said Paul Van Ostenbridge, president and chief executive officer of both Stewardship Financial Corporation and Atlantic Stewardship Bank. "It is a privilege to be selected as one of the 33 top performing small-cap banks and thrifts nationwide."
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Ms. Claire M. Chadwick
Claire M. Chadwick has recently been apointed as senior vice president and chief financial officer. Chadwick will serve at the Bank's Midland Park office.
Claire has over 19 years of banking experience. She most recently served as senior executive vice president, chief financial officer & controller for a local savings bank.
Chadwick holds a Bachelor of Science degree in Accounting from Susquehanna University, Selinsgrove, PA. She serves as the chairperson for the Endowment Committee of the Community Church of Glen Rock.
"We are pleased to welcome Claire Chadwick to Atlantic Stewardship's Senior Management Team," said Atlantic Stewardship Bank President and Chief Executive Officer, Paul Van Ostenbridge. "Claire brings a wealth of knowledge and experience to our senior management team, having worked in the finance and accounting sectors throughout her career. In addition, she enthusiastically supports Atlantic Stewardship Bank's goals and tithing mission." |
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Ms. Jeanne Chichelo
Jeanne Chichelo was recently appointed vice president and operations manager. Chichelo will serve at the Bank's Midland Park office.
Jeanne comes to Atlantic Stewardship Bank from a large central New Jersey credit union. Ms. Chichelo has over 37 years of progressive management experience within the financial services industry in a variety of areas including operations, systems development and implementation, client relations and EFT Services. She is a graduate of the CEO Institute and AMA Leadership Program. Ms. Chichelo is also a TWIN Management Honoree.
"We are pleased to welcome Jeanne Chichelo to Atlantic Stewardship's Management Team," said Atlantic Stewardship Bank President and Chief Executive Officer, Paul Van Ostenbridge. "Jeanne brings a wealth of knowledge and experience to our management team, having worked in the financial services industry throughout her career. In addition, she enthusiastically supports Atlantic Stewardship Bank's goals and tithing mission." |
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Mr. Paul J. Pellegrine
Paul J. Pellegrine has recently been promoted to branch manager. Pellegrine will manage the Bank's Ridgewood Office located at 190 Franklin Avenue.
Paul has been with the Bank for three months, serving as assistant branch manager at the Midland Park Office. Paul Pellegrine has over 25 years of branch banking experience; he most recently served as branch manager for a local de novo bank.
Pellegrine holds a Bachelor of Arts degree from William Paterson College. He is member of the Ridgewood Chamber of Commerce, treasurer of the Rotary Club of Ridgewood and treasurer of the Ridgewood Historical Society.
"We are pleased to welcome Paul Pellegrine to Atlantic Stewardship's Management Team," said Atlantic Stewardship Bank President and Chief Executive Officer, Paul Van Ostenbridge. "Paul brings a wealth of knowledge and experience to our branch management team, having worked in branch banking throughout his career. In addition, he enthusiastically supports Atlantic Stewardship Bank's goals and tithing mission." |
| Beard Miller Company LLP |
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Beard Miller Company LLP Ranked 39th In Inside Public Accounting 2008 Top 100 Accounting Firms List
Beard Miller Company LLP ranks as the 39th largest accounting, tax and business consulting firm in the United States. This ranking appears in the Inside Public Accounting 2008 Top 100 Firms list in its August 2008 issue and is based on U.S. net revenue. The IPA annual report is the longest-running analysis of the Top 100 accounting firms.
With 16.5% revenue growth in 2007, bmc rose one place from last year's list, from 40th to 39th.
"We are very proud to have moved up in our Inside Public Accounting annual top firms report ranking," said Lamar Stoltzfus, chairman and chief executive officer. "bmc's ongoing growth attests to the strong commitment and energy level brought to our clients by bmc's skilled professionals. Our success is directly related to this daily focus on moving our clients' vision forward."
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| Capital One Bank |
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Mr. Douglas L. Kennedy
The middle-market/corporate banking groups for New York and New Jersey will be consolidated under the leadership of 32-year banking veteran Douglas L. (Doug) Kennedy, who has headed this function for New Jersey since June 2004.
Carmen Mastroianni, who has headed middle-market/corporate banking in New York, will retire at the end of this year after nine years of dedicated service. He will work closely with Kennedy on the transition.
Kennedy is responsible for the bank's middle-market business in New York and New Jersey. He joined the banking business of Capital One in 2007 with the acquisition of North Fork Bank. Prior to joining North Fork Bank, he was responsible for Bank of America's middle-market business in New York City, Long Island, New Jersey and Pennsylvania.
With offices in Manhattan, Long Island and New Jersey, Kennedy will continue to report directly to Michael C. Slocum, Capital One's executive vice president of commercial banking.
"Doug is an accomplished and highly effective leader," said Slocum. "His broad knowledge of commercial banking and the New York market make him particularly well-suited for his expanded role within our banking organization. Over the past four years, Doug and his team have built a strong foothold in the desirable New Jersey market, and his extensive experience managing middle-market banking efforts in New York make him the right choice for this position. Carmen has contributed significantly to the success of our commercial-banking group in New York. We thank him for his leadership and service and wish him well as he prepares to retire."
A prominent member of the community, Kennedy serves on several boards. He is chairman of Montclair State University's Board of Trustees and recently co-chaired the University's capital campaign, which raised $60 million for the university. He is president of NJ After 3, a public/private funded organization that provided after-school programming for 15,000 Abbott district children statewide. Kennedy also is an active trustee of Tri-County Scholarship Fund, which provides $1 million annually in tuition assistance for children in North Jersey. He is a member of the New Jersey Performing Arts Center, the New Jersey State Chamber of Commerce, and the New Jersey Banker's board of directors. In addition, he is the past chairman of NationsPort, a coalition of business and labor leaders who support and ensure the continued development of the Port of New York and New Jersey.
A native of Weymouth, Mass., Kennedy received a bachelor's degree in economics and a master's degree in business from Sacred Heart University in Fairfield, Conn. |
| Columbia Bank |
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Columbia Bank Awarded Corporate Citizen Award
Columbia Bank has been awarded the "2008 Corporate Citizen Award", presented by the Wayne Economic Development Commission, an official recognition of the bank's 24-year history of supporting community events within the Township of Wayne. Over the past year, Columbia Bank and its employees have supported more than 50 different Wayne community events. The bank has also formed an "Educational Partnership" with Passaic County Technical Institute in Wayne, creating a fully-functioning branch inside the high school that also serves as an on-the-job classroom for their Academy of Finance students. Also, the Columbia Bank Foundation has recently issued a community grant to the Wayne-based Foundation for the Handicapped.
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| Financial Services, Inc. (FSI) |
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Financial Services, Inc. Signs Long Term Contract with the Right Bank, a New Bank to Open in Philadelphia
Financial Services, Inc., a leading provider of quality data processing, item processing, and Internet services to financial institutions, recently signed a long term contract to provide data and item processing services to the Right Bank, a de novo bank scheduled to open later this year in Philadelphia, PA.
"Opening a new bank is an endeavor that requires an amazing amount of hard work, financial acumen and organizational skills," said Patrick "P.J." Schunke, President of FSI. "Once it's open, running a bank is no easy task, either. If FSI can take care of the 'back office' item and data processing services for the Right Bank, it frees up the bank's management and staff to take care of other functions that need to be done to successfully operate and grow a bank. We're happy to be of service to help make that happen."
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Financial Services, Inc. Signs Long Term Contracts with Cross River Bank and American Eagle Savings Bank
Financial Services, Inc. recently signed long-term contracts with Cross River Bank, opening next month in Teaneck, New Jersey, and American Eagle Savings Bank in Boothwyn, Pennsylvania.
Cross River Bank, a de novo bank, signed a long-term agreement for FSI's data processing and check processing services. American Eagle Savings Bank, a 91-year-old institution located in Boothwyn, Pennsylvania, signed a long-term contract for data processing and item processing services and holds $30.1 million in assets.
FSI President, Patrick "PJ" Schunke, says, "When banks sign long-term contracts for our services, it makes me feel that they trust FSI and have confidence in what we do. It also makes me even more committed to proving that their trust is well-placed. We look forward to long and fulfilling relationships with Cross River Bank and American Eagle Savings Bank."
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| First Bank |
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First Bank Raises $19 Million and Closes Recapitalization; Prepares for Market Expansion
First Bank consummated its capital offering and recapitalization on Friday, October 24, 2008. The investor group raised over $19 million in new capital as part of the transaction. In accordance with the terms of the recapitalization, First Bank has increased the size of its Board of Directors from 9 to 11. The reconstituted Board contains 7 members from the investment group and 4 members from the original First Bank Board. Lead investor Leslie E. Goodman was named Chairman of the Board. Lead investor Patrick L. Ryan was added to the Board and named Executive Vice President and Chief Operating Officer. As reconstituted, the Board of First Bank now consists of Timothy Anonick, Elbert Basolis, David Gibbons, Leslie E. Goodman, Peter Halstead, Sidney L. Hofing, Glenn Josephs, James Loney, James Meehan, Patrick L. Ryan, and Daniel C. Schwartz.
First Bank expects to open its first Mercer County branch location, in Ewing, New Jersey, in late 2008 or early 2009. The bank has received regulatory approval for the branch, and is completing the fit out of the location. The move to a permanent location in Williamstown, New Jersey should occur during the second quarter of 2009.
"The recapitalized First Bank has over $25 million in equity capital and a clean balance sheet," stated Chairman Leslie E. Goodman. He added, "We are in an excellent position to take advantage of the customer dislocation taking place in the market right now. As banks continue to shrink or get acquired, we will be direct beneficiaries." Furthermore, Mr. Goodman continued, "In addition to the capital, we have the team and the expertise to navigate these rocky waters. Our management and Board, collectively, have over 200 years of banking experience."
President and Chief Executive Officer James Loney added, "Our opportunity is immense. When you think of the organizations in our market that have been acquired in the last 12 months (Wachovia, Sovereign, Commerce, Yardville National, Synergy), it's staggering. The number of customers actively looking for a new banking relationship will likely be higher in the next twelve months than at any other time in memory."
"We are investing and building a platform for growth," stated Executive Vice President and Chief Operating Officer Patrick L. Ryan. "This market requires thoughtfulness and prudence - we understand that and we will act accordingly. Banking is a marathon, not a sprint; the investments we make and the relationships we build over the next couple of years will create the foundation for a great, super-community bank for years to come."
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| First Hope Bank |
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Mr. Thomas W. Thomasma
Thomas W. Thomasma has joined First Hope Bank as vice president commercial lending. As the chief credit officer for the bank, he is responsible for maintaining the quality of the bank's commercial loan portfolio.
"Tom's extensive commercial banking experience will be a real benefit to First Hope's already strong commercial lending area," said Donald D. Somma, senior executive vice president for retail operations/senior lender. "His 35 years in banking will complement a strong winning team of associates, and will certainly benefit the area business community."
Thomasma most recently was president of Northern State Bank in Closter, New Jersey. He holds a Bachelor of Science degree in Accounting from Fairleigh Dickinson University and a Masters in Business Administration from Rutgers University. |
| Griffin Financial Group LLC |
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Griffin Expands Financial Services Group Platform
Griffin Financial Group announced today the expansion of its Financial Services Group with the addition of Richard A. Vader as senior managing director, Financial Services Group.
In addition, Scott Abercrombie has joined Griffin Holdings Group, parent company of Griffin Financial, as managing director of Mortgage and Consumer Banking.
Vader provides bank executives, directors, stockholders and investors with advice on issues of corporate strategy, tactics, organizational structure, performance and corporate actions. He provides independent, knowledgeable assessments of corporate valuation, profitability, leverage, capitalization and capital adequacy, and assists clients with their public securities offerings, private equity and debt placements, recapitalization, corporate defenses and their mergers and acquisitions.
Vader has served as senior advisor in over 45 mergers and acquisitions and 25 securities offerings. He has more than 30 years of experience with banking-specific boutiques Keefe, Bruyette & Woods, Inc. and Alex Sheshunoff & Co., Inc.; major securities firms Kidder, Peabody & Co., Incorporated and The First Boston Corporation; regional retail broker Advest, Inc.; and the niche firm of Hugh L. McColl Partners LLC. He was also the corporate finance director of a multi-billion dollar community bank.
Vader earned his MBA and B.A. from Rutgers - The State University of New Jersey.
Abercrombie brings significant experience to financial institution clients in his management of the mortgage and consumer banking operation for Griffin Holdings Group. Presently, he provides consultative and loan trading services in performing, scratch and dent, non-performing, REO residential first and second mortgages, auto and other consumer loans.
Abercrombie is the former executive vice president of Sovereign Finance Company and Alternative Deliveries for Sovereign Bank. While with Sovereign, he established Sovereign Finance Company, a national home equity and mortgage loan purchase business, and managed all aspects of Sovereign Finance Company, retail e-commerce, call centers and Sovereign Insurance Agency. He also held executive positions in consumer and mortgage lending with Citibank, JPMorgan Chase of New Jersey and Berkeley Federal Savings Bank.
Abercrombie holds an MBA in Finance from the Simon School of Business, University of Rochester, and a B.S. in mathematics from SUNY Brockport.
In addition to the expansion of the Financial Services Group, the firm has grown its Private Equity Group with the addition of Paul F. Delaney as senior managing director and head of the private equity placement team. Delaney brings nearly 30 years of senior management experience, many of which were spent with Bear Stearns Private Funds Group and MetLife Inc., one of the largest institutional investors by allocation to alternative assets.
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| Heritage Community Bank |
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Mr. Edward Poolas
Edward Poolas of Totowa has been named senior vice president and senior loan officer at New Jersey's Heritage Community Bank. Poolas has spent his entire career in community banking and will oversee Heritage's sales and lending programs. Poolas has worked in New Jersey banking for over 25 years and enjoys a unique level of achievement in building long-term and profitable business relationships. He will oversee the business development program at Heritage. Poolas holds a BA in Business Administration from New Jersey's William Paterson University. |
| Highlands State Bank |
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Mr. Patrick Smith
Patrick Smith has been appointed to the position of senior vice president in charge of Commercial Lending. Smith will be responsible for directing all commercial lending activities, including construction and commercial real estate loans, for Sussex County and the surrounding areas.
"Patrick Smith's banking experience in the Sussex County commercial market is what made him the ideal candidate to head up our commercial lending department at Highlands State Bank," said George E. Irwin, president and CEO of Highlands State Bank. Irwin added, "We are fortunate to have an experienced commercial lender that knows and understands our Sussex County customers. He is a welcome addition to our team and another reason why Highlands State Bank is raising expectations."
Prior to joining Highlands State Bank, Smith worked as the vice president of Commercial Lending for Sussex Bank and was the vice president of the Sussex County Economic Development Partnership. He attended SUNY in Farmingdale, New York with a major in Business Administration. Smith became an ICBA certified commercial lender in 2004, completed advanced commercial lending courses in 2006 and completed a graduate commercial lending course in 2007. Smith is a member of the Tri-County Workforce Investment Board and on the Board of Trustees for the Sussex County Economic Development Partnership. |
| Kaplan & Associates, Inc. |
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Mr. Bill Borkovitz
Bill Borkovitz has joined the firm as principal. Borkovitz brings almost twenty-five years of senior executive operating experience to the firm, primarily in the financial services and healthcare sectors. Prior to joining Kaplan & Associates, Inc., he was chief operating officer of Financial Asset Management Systems, Inc. He also served as a member of the Board of Directors of FAMS.
According to Alan J. Kaplan, president and CEO of K&A, "We have been searching for the right business leader to join our team, and like our clients we are very particular. This is a critical time for human capital, as our clients need stronger advice than ever on building and developing their executive teams. Bill's extensive operating experience, combined with our delivery model and industry expertise, will add huge value for our clients."
Previously, from 2002-2006, Borkowitz served as executive vice president, Risk Operations, for Radian Guaranty. From 1998-2002, he was a vice president of Fidelity Investments, where he held a series 7 license and was responsible for nationwide tactical operations and strategic measures. Earlier in his career, Borkovitz held leadership roles in several leading companies including Caremark, Citibank, and Dun & Bradstreet.
"I am thrilled to be joining such a premier firm as K&A," said Borkovitz. "This is an exciting time in the talent management arena, and I look forward to leveraging my financial services and healthcare industry expertise for the benefit of K&A's clients."
In addition, Borkovitz serves as an expert consultant for Gerson-Lehrman. Bill holds a B.S. in Finance from the University of Delaware. He is also an active member of the Greater Philadelphia Senior Executive Group. |
| Lakeland Bancorp, Inc. |
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Mr. Robert A. Vandenbergh
Robert A. Vandenbergh has been promoted to senior executive vice president and chief operating officer of Lakeland Bancorp, and Lakeland Bank.
Thomas J. Shara, president and chief executive officer of Lakeland Bancorp, Inc., stated "It is with great pleasure that I announce the promotion of Bob Vandenbergh to senior executive vice president and chief operating officer. Bob will continue to report to me, overseeing the Lending, Leasing, Operations and Retail functions, thus aligning day to day operations under one umbrella. Bob's extensive banking background and past contributions to Lakeland bring great strength to this position, and I am pleased to utilize his abilities in this capacity. Bob's commercial and community banking experience will enable Lakeland to execute our strategic plans, thus enhancing our position in the markets that we serve." |
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Mr. David Yanagisawa
David Yanagisawa will be joining Lakeland Bank as executive vice president on November 24, 2008.
Yanagisawa has over 35 years experience in all areas of commercial banking, most recently with TD Bank. Prior to TD Bank's acquisition of Hudson United Bank in 2006, Yanagisawa had been with Hudson United Bank for 12 years, prior to which he was with Citizens First National Bank. |
| Lakeland Bank |
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Lakeland Bank Open's New Office in Wayne
"Community banking has arrived in Wayne seven days a week," declared Thomas J. Shara, president and chief executive officer of Lakeland Bank. "Lakeland Bank's Wayne office, located at 231 Black Oak Ridge Road is designed specifically to meet the needs of this community. With extended hours, drive-up banking and ATM services, this office will provide a professional, convenient and welcoming environment for Wayne residents to do their banking and wealth management planning," he noted.
"We are also pleased to announce that Daniel Leary will be the office manager. We look forward to meeting everyone at our Gala Grand Opening Celebration on Saturday, October 25, from 9:00 a.m. to 1:00 p.m. Watch your mail and local newspapers for more details about this celebration," stated Mr. Shara. The Wayne Office's Gala Grand Opening Celebration will include an appearance and autograph session with former NJ Devils star Ken Daneyko, customer account specials, free gifts, Wayne cash, music provided by a DJ, free food and drinks, and a clown to entertain kids of all ages with balloon animals and face painting. Additionally, when customers open a new checking account with $500 or more, Lakeland Bank will donate $25 to both the Wayne Boys & Girls Club and the Wayne PAL.
For more information about the office or its Grand Opening Celebration, contact Daniel Leary at (973) 709-0235. The Wayne office's lobby hours are Monday through Friday, 8:30 a.m. - 6:00 p.m.; and Saturday, 8:30 a.m. - 1:00 p.m. Drive-up hours are Monday through Friday, 8:00 a.m. - 6:00 p.m.; Saturday, 8:30 a.m. - 1:00 p.m.; and Sunday 10:00 a.m. - 1:00 p.m.
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Lakeland Bank Celebrates 36th Annual Scholarship Golf Outing
At Lakeland Bank's recent Scholarship Golf Outing held at the Crystal Springs & Wild Turkey Golf Resort in Hamburg, over $65,000 was raised to help support 35 local high school college-bound seniors. This year's event drew over 168 golfers, and over 30 Lakeland Bank employees volunteered to make this a great day for all the participants.
Local high schools benefiting from this year's outing include Butler High School, Kinnelon, Lakeland Regional, West Milford, Jefferson, Pope John Regional, Sparta, High Point Regional, Vernon, Morris Hills Regional, Morris Knolls Regional, Newton, Kittatinny, DePaul Regional, Ramapo, Eastern Christian, Lenape Valley Regional, Montville, Wallkill Valley Regional, West Essex, Passaic Valley Regional, Pequannock, Boonton Township High School, Hackensack, Park Ridge, Dwight Morrow, North Warren, Caldwell, Manchester Regional, Becton Regional, Morristown, Sussex County Technical, Ma'ayanot Yeshiva for Girls, Torah Academy of Bergen County and Teaneck High School.
"We are proud to continue the tradition of hosting this outing. Lakeland Bank's commitment to the community remains a primary focus. We're happy to help these high schools that are devoted to serving our children in a variety of ways. Our thanks to all those golfers, sponsors and contributors who joined us," said Thomas J. Shara, president and chief executive officer of Lakeland Bank. Participating golfers had the choice of sponsoring the outing on various levels through a corporate package, a beverage cart sponsor or a golf tee sign sponsorship.
"I am very happy to report that this event continues to receive an overwhelmingly positive response. It was great to have so many Lakeland Bank employees participate in this year's outing. Their dedication and significant contributions to the day's events truly helped to make the event the success that it was," said Mr. Shara.
Lakeland Bank hosts two golf outings a year, the Sussex County Golf Classic in late June and the Scholarship Golf Outing in September. This year between the two outings, Lakeland raised $100,000 to give back to the communities they serve.
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Mr. Robert L. Ingram
Thomas J. Shara, president and chief executive officer of Lakeland Bank, recently announced the promotion of Robert Ingram to senior vice president/manager of equipment leasing at Lakeland Bank.
Mr. Ingram joined Lakeland Bank in 2006 as vice president/director of broker services, and has over 15 years of bank leasing experience. Prior to joining Lakeland Bank, Mr. Ingram was employed at Sterling Bank.
Mr. Ingram obtained his Bachelor's degree from SUNY Geneseo and is a director of Eastern Association of Equipment Lessors. |
| Magyar Bank |
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Bank Hosts Thanksgiving Turkey and Food Drive
The bank will be hosting a Thanksgiving Turkey and Food Drive on Saturday, November 22nd from 9am-2pm on behalf of the Community Food Bank of New Jersey. Interested donors are encouraged to bring turkeys, non-perishable food items, or cash donations to Magyar's North Brunswick Office at 582 Milltown Road (inside the Brunswick Shopping Center). Directions and additional information regarding the event can be obtained from the bank's website at www.magbank.com/turkey or by contacting the branch directly at 732-729-7800.
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Magyar Bank Partners with Children's Specialized Hospital and Good Time Oldies 1450 WCTC for Holiday Toy Drive
This holiday season Children's Specialized Hospital is the beneficiary of Magyar Bank's 2008 Holiday Gift Program.
Magyar Bank, Children's Specialized Hospital, and Good Time Oldies 1450 WCTC invite you to share the joy of the season by donating a new unwrapped toy to the patients of Children's Specialized Hospital. Bring your unwrapped gift to any Magyar Bank location and help these special patients celebrate the holiday season. Donations will be accepted through December 19, 2008.
"Children's Specialized Hospital is the largest pediatric rehabilitation system in the country, and last year served more than 16,000 children with special needs," said Elizabeth Hance, president and chief executive officer of Magyar Bank. "Magyar Bank is pleased to partner with Children's Specialized Hospital again this year. This program will bring smiles to the faces of many children, and their families, this holiday season."
"This is a great opportunity to provide our patients with a memorable and festive holiday at PSE&G Children's Specialized Hospital, and to involve everyone in the community," said Philip Salerno III, president of Children's Specialized Hospital Foundation. "The generosity and support from Magyar Bank and Good Time Oldies 1450 WCTC has been wonderful. Our patients and their families are truly grateful to have such generous community partners."
For more information, including a complete list of items on the children's wish list, visit the Magyar Bank website at www.magbank.com. Please make sure all donated items are new and unwrapped-you may drop off your gift at any Magyar Bank location, or at the Good Time Oldies 1450 WCTC studios. Children's Specialized Hospital Foundation will also gratefully accept monetary donations online. Visit Children's Specialized Hospital's Foundation web page to make a secure gift online at www.forchildrens.com.
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Ms. JoAnne Fabiano
Magyar Bank is proud to announce that Jo Anne Fabiano has been appointed to branch manager of Magyar Bank's Branchburg Office. Fabiano has been with Magyar Bank for two years, and has served in the Banking Industry for over 19 years. |
| Northfield Bank |
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Northfield Bank Launches 14th Annual Holiday Toy Drive
Northfield Bank has announced the start of the its 14th Annual Holiday Toy Drive.
Help brighten the holiday season of a child from your community by bringing a new, unwrapped toy for boys and girls between the ages of newborn and 12 years to any Northfield Bank branch in Staten Island, Brooklyn, or New Jersey now thru December 15th.
All toys will be distributed to needy children through local charities in the respective communities.
"For the past 13 years Northfield Bank customers, friends, and employees have helped bring joy to needy children in our communities," stated John Alexander, chairman, and chief executive officer of Northfield Bank. "This year presents a special challenge due to the economic stress that has affected so many in our community. We encourage everyone to reach out and touch the life of a young child by putting a smile on their face."
In order to allow sufficient time for the charities to prepare the toys for distribution, all toys must be received no later than December 15th.
For more information about this Holiday Toy Drive, please contact the Northfield Bank Marketing Department at (732) 499-7200 x2512.
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| NVE Bank |
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Ms. Kelly Hill
Robert Monteith, President & Chief Executive Officer of NVE Bank, has announced the promotion of Kelly Hill to branch manager/assistant secretary of their Hillsdale Office, located at 159 Broadway, Hillsdale, NJ.
Ms. Hill has over 20 years of banking experience including consumer lending and management positions. Prior to joining NVE Bank, Ms. Hill was employed by Valley National Bank where started as a teller and progressed to branch manager.
Additionally, Ms. Hill has taken various American Institute of Banking (AIB) courses covering topics such as Law & Banking, Economics and Consumer Lending. |
| Oritani Bank |
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Oritani Bank Opens New Branch in Emerson
Oritani Bank, a 97 year old community bank with over $1.5 billion in assets, today announced the opening of its' newest branch office, located at 27 Kinderkamack Road in Emerson, New Jersey. This full-service branch will offer a complete line of financial products and services to meet the needs of both consumers and small to mid-size businesses. With the addition of Emerson, Oritani Bank now has 20 branch offices in Bergen, Hudson and Passaic Counties.
"While these are certainly trying times in the banking industry, Oritani Bank remains financially strong with a nearly 20% tier 1 capital ratio and a strong and solid loan portfolio with no sub prime exposures. The new Emerson branch underscores our continued growth and our ongoing commitment to support of the communities where we do business. This new branch also offers our new and existing customers another convenient location with the superior, personal service that they have come to expect from Oritani Bank. We are excited to become a part of the growing community in Emerson and expand our presence in Bergen County," said Kevin J. Lynch, president and CEO of Oritani Bank. To kick off Oritani Bank's Grand Opening, the Emerson branch will offer a special promotion on TGIF personal checking accounts and TCB business checking accounts. New checking account customers can also take advantage of a special rate on a five month certificate of deposit.
To introduce the bank to the local area residents, Oritani Bank will host a 3- hour Grand Opening Celebration this Saturday, November 1st in the parking lot of their new Emerson branch at 27 Kinderkamack Road. The event will be open to the public from 11 am to 2 pm and the festivities will include food, fun and prizes for the whole family. Oritani Bank welcomes the local community to come and enjoy complimentary music, entertainment, crafts and refreshments.
Oritani Bank will also hold a sweepstakes for 60 days, beginning the day the branch opens. The grand prize will be a 40-inch flat screen television and numerous prizes valued at over $2,000 will be awarded. In addition, the OritaniBank Charitable Foundation will be making a $10,000 donation to the Emerson Volunteer Ambulance Department. All are welcome to participate in the sweepstakes.
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OritaniBank Charitable Foundation Awards $10,000 Grant to Valley Home Care Butterflies Program
The OritaniBank Charitable Foundation recently granted Valley Home Care $10,000 in support of their Butterflies Program, a home-based pediatric palliative care and hospice program designed especially for children. Since 1999, Valley Home Care in Paramus, New Jersey has been treating children in Passaic and Bergen Counties who have been diagnosed with a variety of progressive, life-threatening diseases and terminal illnesses. The program provides essential services such as nurses, home health care aides, therapists, social workers, and spiritual support - for both the child and their families.
President of the OritaniBank Charitable Foundation, Kevin Lynch, presented a $10,000 check to Donna Fry, CEO of Valley Home Care and Sandy Carapezza, donor development director to support the Butterflies Program. "Oritani Bank is deeply committed to supporting organizations with such worthy missions which support the community. This program focuses on relieving both the physical pain and emotional distress that comes from living with a serious illness. Without financial support to underwrite expenses, these programs could not exist and we are pleased to do our part," comments Mr. Lynch.
The OritaniBank Charitable Foundation was established in 2007 to assist not-for-profit organizations that help to improve the quality of life for residents in Bergen, Hudson, and Passaic counties. Since its inception, the Foundation has donated over half a million dollars to local charitable organizations.
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OritaniBank Charitable Foundation Awards $50,000 Matching Grant to Habitat for Humanity of Bergen County
OritaniBank Charitable Foundation presented a $50,000 grant to Habitat for Humanity of Bergen County to support the construction and acquisition of affordable housing for hard-working, low income families in Bergen County. Habitat for Humanity was able to match Oritani Bank's contribution for a total of $100,000, which will help fund the Third Street Redevelopment Project.
"This is the second consecutive year OritaniBank Charitable Foundation has awarded a matching grant to Habitat for Humanity of Bergen County, and we are pleased to continue supporting this commendable organization, which offers families in need a chance to own their own home at an affordable cost," stated Kevin Lynch, president of OritaniBank Charitable Foundation, chairman, president and CEO of Oritani Bank. The OritaniBank Charitable Foundation was established in 2007 to assist not-for-profit organizations that help to improve the quality of life for residents in Bergen, Hudson, and Passaic counties.
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Mr. Kevin J. Lynch
OritaniBank Charitable Foundation recently awarded $10,000 to Eva's Village in support of their new Hope Residence of St. Frances for mothers and children, opening this November. Eva's Village is a Paterson-based social service agency with a mission to feed the hungry, shelter the homeless, treat the addicted, and provide medical care to the poor. This new 18,000 square-foot shelter on Jackson Street will provide a safe, comfortable, supportive environment for mothers and their children.
Kevin Lynch, president of the OritaniBank Charitable Foundation, presented a $10,000 check on October 6th to Sister Gloria Perez, executive director of Eva's Village to sponsor their new Hope Residence. "We care deeply about the communities we serve and are pleased to help local area residents in need of this type of facility," commented Lynch.
The OritaniBank Charitable Foundation was established in 2007 to assist not-for-profit organizations that help to improve the quality of life for residents in Bergen, Hudson, and Passaic counties. Since its inception, the Foundation has donated over half a million dollars to local charitable organizations. |
| Peapack-Gladstone Bank |
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Piscataway Branch Opens
Peapack-Gladstone Bank has expanded its branch network by opening up a new office in Piscataway, New Jersey. The Piscataway branch, conveniently located just off of Route 287 at 1038 Stelton Road, is the 23rd location for the bank and its first in Middlesex County.
"We are pleased to open in Middlesex County to support our growing small business banking and commercial lending programs," said Frank A. Kissel, chairman and chief executive officer. He added, "this branch has been designed to serve personal banking customers as well but we are hoping to use it to showcase our business oriented product line."
To celebrate the opening of the branch, the bank is offering specials throughout the fall that will meet everyone's needs. Businesses can take advantage of free business checking with a free Visa® business check card, Remote Deposit banking, free online banking and free online bill pay, as well as 24-hour ATM banking. Businesses that stop by the new location and open a free business checking account by the end of the year will get a $25 Staples gift card. And any business that signs up for Remote Deposit banking will get an additional $25 Staples gift card! Services like merchant credit card processing and night deposit are also available at the new location.
Personal banking customers can take advantage of high yield checking accounts and free personal checking as well as certificates of deposit with flexible terms and great rates. Anyone who opens a new free personal checking account will receive a $10 deposit - on the bank! And a certificate of deposit opened by December 31, 2008 will earn an extra ¼% bonus until maturity.
The Piscataway location is a full-service branch that offers convenient lobby and drive-up hours, a 24-hour ATM, free customer parking, a free coin machine and a welcome center featuring fresh coffee. In addition to the in-branch services this specific location provides, Peapack-Gladstone Bank customers can take advantage of bank-wide conveniences like 24-hour telephone banking, free mobile phone banking, free online banking with electronic statements and free online bill pay. Customers can even open accounts online at www.pgbank.com.
"My staff and I are glad to have our doors open," said Lorraine Meyers, vice president and branch manager of the new Piscataway location. "We are looking forward to providing the Peapack-Gladstone Bank brand of banking to the area and showing the community the kind of personalized service and high quality products we have to offer."
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John W. Brun
John W. Brun has joined Peapack-Gladstone Bank as vice president branch manager of the bank’s Summit, NJ location. Mr. Brun brings over 40 years of financial services experience to Peapack-Gladstone Bank along with a Bachelors Degree from William Paterson University. He holds a NJ teaching certificate as well as a NJ Life Insurance License and is a volunteer for the United Cerebral Palsy Association. |
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Ms. Yvonna Coyne
Yvonna Coyne joins Peapack-Gladstone Bank as assistant vice president and assistant loan operations manager. Ms. Coyne joins the bank with over 15 years of experience in banking having served in similar loan operations positions at The Town Bank in Westfield and Statewide Savings Bank in Jersey City. She holds a Bachelors Degree from Kean University in Union. |
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Ms. Liz Miller
Elizabeth Miller has joined Peapack-Gladstone Bank as vice president and branch manger of the bank’s new Whitehouse location. Ms. Miller is a member of the Somerset County Chamber of Commerce and holds a Bachelors Degree from Montclair State University. She brings more than 20 years of financial services experience to Peapack-Gladstone Bank, having most recently worked at Pinnacle Federal Credit Union. Ms. Miller is also American Council on Exercise certified as well as Nutritional Management certified. |
| PGB Trust & Investments |
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John Tarver
John Tarver has joined PGB Trust & Investments and PGB Financial Services as vice president and senior financial consultant. Mr. Tarver brings 25 years of experience in the securities industry to the trust division of Peapack-Gladstone Bank. He holds a degree in economics from Miami University of Ohio and will be based out of the Clinton branch of Peapack-Gladstone Bank. |
| The Provident Bank |
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Ms. Diane Conboy
Diane Conboy of The Provident Bank was recently named a Board Member of the Middlesex County College Foundation. She will assist the foundation in furthering its mission to provide financial aid, scholarships and educational resources for students attending the college.
Conboy is the Middle-Market Team Leader of The Provident Bank's Central Region. She supervises a team of relationship managers that service businesses with revenues of more than $7.5 million and loans in excess of $1.5 million.
In addition to the MCCF board, Conboy is a member of the Monmouth-Ocean Development Council's board of directors and its Economic Development Committee. She is also former Treasurer of the Ocean County Library Foundation Board.
Conboy holds a Bachelor of Science degree in Business Administration from Montclair State University. |
| PULSE |
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New PULSE Web Site and Web Address
PULSE's web site has changed from www.pulse-eft.com to www.pulsenetwork.com. On the homepage you will find three new features:
-Spotlight, focusing on important events and featured products.
-PULSE news, offering details on hot topics and current happenings at PULSE.
-Quick Links, which makes frequently accessed areas readily available with a single click.
Participants will be able to use the same log-in information as on the previous site.
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| Republic First Bank |
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Mr. Donald Adams
Donald (D.J.) Adams has joined Republic First Bank, as vice president and regional lender for its Philadelphia market.
Adams comes to Republic First Bank from Sovereign Bank, where he was a top lender in its Philadelphia Market. Prior to Sovereign, Adams worked ten years at Commerce Bank, most recently as vice president, commercial lending for the South Jersey and Delaware markets. In 2006, Adams was one of Commerce Bank's five most successful lenders for that market.
"D.J. Adams is an outstanding addition to our growing Commercial Lending team. As a local banker for over ten years, his experience in this market will definitely be a tremendous plus for our business clients," said Republic First Bank's Chief Executive Officer Harry Madonna. "I'm pleased that another long-time Commerce Bank employee, who played a role in the prior success of that bank, has joined us as we build our new 'killer brand' here at Republic First Bank."
"I am excited to be part of a Philadelphia based bank truly committed to the success of their business customers," said Adams. "In particular, I look forward to understanding and helping our Commercial and Small Business customers with their borrowing needs." |
| Riker Danzig Scherer Hyland & Perretti LLP |
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Riker Danzig Welcomes Ami Foger
Riker Danzig Scherer Hyland & Perretti LLP is pleased to announce that Ami Foger has joined the firm as an associate.
Ami Foger practices in Riker Danzig's Corporate group. Mr. Foger earned his law degree summa cum laude from Benjamin N. Cardozo School of Law in 2007 where he served as a member of the Cardozo Arts and Entertainment Law Journal. He earned his B.A. from Rutgers College in 2003. Prior to joining Riker Danzig, Mr. Foger was an associate with Cadwalader, Wickersham & Taft LLP of New York, NY. He is admitted to practice in New Jersey and New York.
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| Sun National Bank |
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Sun National Bank Hosts All Employee Pep Rally; Kicks Off United Way Campaign
Sun National Bank's board of directors and management committee hosted an all-employee pep rally to get the Sun team excited for the year to come and acknowledge their hard work and commitment to the company and its customers. During the event, the bank also kicked off its annual United Way campaign.
"Employees are any company's best asset and it's important to celebrate their hard work," said Thomas X. Geisel, president and CEO of Sun National Bank. "In a time when our industry is experiencing set backs, it's important for Sun to remain steadfast in our commitment to our employees, just as they remain committed to the company and our customers. We certainly cannot operate without our team and this pep rally was our way of getting them excited about what's coming in Sun's future, as well as doing something for them that was fun and rewarding."
During the event that included music, food, dancing and prizes, the bank also kicked off its annual United Way campaign, which culminates with a day-long celebration at the bank's headquarters and branches on November 13. Among other prizes at the pep rally, the bank gave away a pair of World Series tickets to a lucky pair of employees.
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| SussexBank |
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Mr. Terry H. Thompson
Terry H. Thompson, president and chief operating officer of SussexBank reminds area residents that despite the current market turmoil, community banks like SussexBank are in solid shape. "We're fairly typical of the community bank profile," Thompson stated. "We are a well capitalized institution, we have liquidity, we have maintained sensible underwriting standards and we remain an active community lender."
Thompson continued by stating that some recent news reports and commentaries have raised concern about the safety of deposits in community banks. "These reports are irresponsible and wrong," Thompson declared. "These are the facts: community bank customers' insured deposits are safe in their community banks. No one has ever lost a penny of deposits insured by the FDIC held in community banks," he stated.
Thompson also pointed out that the FDIC's recent extension of FDIC insurance is another layer of protection offered to SussexBank customers. "We were very pleased when the FDIC first announced that it was increasing deposit insurance to $250,000," he explained.
He emphasized that there are a number of ways customers may maintain deposits in excess of this expanded coverage and still maintain full protection of their assets. "FDIC insurance is calculated on the basis of the account title. As such, a person can simply vary the titles of his or her accounts, and as long as no single account exceeds the FDIC limit, all funds are protected," he commented.
Thompson added that SussexBank also offers a convenient way for customers to enjoy full FDIC insurance on deposits of up to $50 million. "We're a member of a unique network known as CDARS," Thompson said. "When you deposit a large amount with us, we place your funds into CDs issued by other Network Members." He went on to explain that this process occurs in increments of less than $100,000 so that both principal and interest are eligible for complete FDIC protection.
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| TD Bank, N.A. |
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TD Charitable Foundation Donates $1.5 Million through its Third Annual 'Housing for Everyone' Competition
The TD Charitable Foundation announced today the 48 winners of its annual "Housing for Everyone" competition, who will receive a total $1.5 million in donations to support affordable housing initiatives from Maine to Florida.
Now in its third year, the "Housing for Everyone" competition drew 423 proposals from housing non-profits that serve communities where Commerce Bank and TD Banknorth do business. The winning organizations, as well as the total donation per market, include:
-- Connecticut: $200,000 total donated to Friendship Service Center, Inc.; Hartford Areas Rally Together; Mutual Housing Association of Southwestern CT, Inc.; Neighborhood Housing Services of New Britain, Inc.; Women's Institute for Housing and Economic Development, Inc.
-- Delaware: $25,000 total donated to Connections CSP, Inc. and YWCA Delaware, Inc.
-- The District of Columbia: $25,000 total donated to Montgomery County Coaltion for the Homeless, Inc. and Shelter House, Inc.
-- Florida: $25,000 total donated to Broward Housing Solutions and Neighborhood Renaissance, Inc.
-- Maine: $50,000 total donated to Avesta Housing Development Corporation; Penquis Community Action Program, Inc.; Preble Street.
-- Massachusetts: $200,000 total donated to Dorchester Bay Economic Development Corporation; HAP, Inc.; Housing Assistance Corporation; Lawrence Community Works, Inc.; Twin Cities Community Development Corporation.
-- New Hampshire: $50,000 total donated to CATCH Neighborhood Housing; Families in Transition; NeighborWorks Greater Manchester.
-- New Jersey: $400,000 total donated to Atlantic City Rescue Mission, Inc.; Camden Lutheran Housing, Inc.; Diocesan Housing Services Corporation of the Diocese of Camden, Inc.; Homes of Montclair Ecumenical Corporation; Housing and Neighborhood Development Services, Inc.; Jersey City Episcopal Community Development Corp.; NewBridge Services, Inc.; New Jersey Community Development Corporation, Inc.; Tri-County Community Action Partnership; Volunteer Center of Bergen County, Inc.
-- New York: $275,000 total donated to Albany County Rural Housing Alliance, Inc.; CAMBA, Inc.; Harlem United Community Aids Center, Inc.; Homeless and Travelers Aid Society of the Capital District; Hudson River Housing; Neighborhood Coalition for Shelter, Inc.; Neighborhood Housing Services of New York City, Inc.; Westhab, Inc.
-- Pennsylvania: $200,000 total donated to Homeownership Counseling Association of Delaware Valley; Philadelphia Neighborhood Housing Services, Inc.; Philadelphia VIP, Inc.; New Kensington Community Development Corporation; Women's Community Revitalization Project.
-- Vermont: $50,000 total donated to Central Vermont Community Land Trust, Inc.; Champlain Housing Trust, Inc.; Windham Housing Trust, Inc.
"Through our 'Housing for Everyone' program, we've invested nearly $5 million to date to help make shelter -- one of life's basic needs -- available to thousands of people in our communities," said Elizabeth K. Warn, president of the TD Charitable Foundation and executive vice president of community development for TD Banknorth. "We're especially pleased to extend this support to both Commerce Bank and TD Banknorth's markets, and help even more organizations make a meaningful difference in the affordable housing landscape of their community."
The 2008 "Housing for Everyone" competition focused on providing operational funding for fiscally-responsible affordable housing organizations. Organizations were required to have tax-exempt 501(c)(3) status and to develop or maintain affordable housing, or provide housing-related programs and services to very-low, low- and moderate-income individuals or families.
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| Unity Bank |
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Mr. Herin Joshi
Herin Joshi has been named vice president and relationship manager of Unity Bank's North Plainfield office. Mr. Joshi brings prior banking experience from Wachovia and over eight years of sales experience. His new role also includes a position as market leader, coordinating and strengthening efforts of the North Plainfield, Middlesex and Colonia Unity Bank offices. |
| Valley National Bancorp |
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Valley National Bancorp Volunteers to Participate in the U.S. Treasury Capital Purchase Program
Valley National Bancorp, the holding company for Valley National Bank, is pleased to announce that it has been chosen as one of the nation's stronger regional banks to participate in the U.S. Treasury Department's TARP Capital Purchase Program. On October 24, 2008, Valley was advised by the Treasury that Valley's application under the program was approved. Valley filed an application with the Treasury under such program for the sale of $330 million in Valley nonvoting senior preferred stock to the Treasury. Valley intends to use the proceeds from this sale for general corporate purposes which include additional capital to grow lending operations and support acquisitions of other financial institutions which may become available in the current economic downturn.
Valley has no plan or current need to participate in other aspects of the Treasury's overall TARP program, specifically the sale of troubled assets to the Treasury. However, as an added benefit to Valley customers, Valley does plan to voluntarily participate in the FDIC's fee-based expanded insurance program which provides, without limitation, a guarantee on all of Valley's non-interest bearing accounts through December 31, 2009.
"We view the terms of the Capital Purchase Program to be favorable and a very attractive low-cost alternative to other capital sources in today's market," noted Gerald H. Lipkin, Chairman, President and CEO. Mr. Lipkin added, "Although Valley is a well-capitalized organization, we believe such a program provides an excellent opportunity for healthy strong banks like Valley to participate in and support the recovery of the U.S. economy. Valley chose to voluntarily enter the program in order to shore up the Treasury's efforts to provide additional long-term funds which should facilitate additional lending. Furthermore, the enhancement to our already solid capital position will provide strategic flexibility to our management team while promoting continued confidence in the Valley brand."
Valley's senior preferred shares will pay a cumulative dividend rate of five percent per annum for the first five years and will reset to a rate of nine percent per annum after year five. The shares are callable by Valley at par after three years and may be replaced if Valley were to choose to repurchase them with newly raised equity capital at any time.
In conjunction with the purchase of Valley's senior preferred shares, the Treasury will receive warrants to purchase approximately 2.5 million in Valley common shares with an aggregate market price equal to $49.5 million or 15 percent of the senior preferred investment. The Valley common stock underlying these warrants represents less than two percent of Valley's outstanding common shares at September 30, 2008. The exercise price will be the market price of Valley's common stock at the time of issuance, calculated on a 20-trading day trailing average.
Valley, like other institutions, has not yet been provided with the final documentation and the closing on this purchase is subject to the execution of satisfactory definitive documentation. The purchase, according to the Treasury, will occur within 30 days of the approval and before year-end.
At September 30, 2008, Valley National Bank's capital ratios were all above the level required to be categorized as "well capitalized." Valley National Bank's total risk-based capital, Tier I capital, and leverage capital were 10.12 percent, 8.41 percent, and 6.83 percent, respectively, at September 30, 2008.
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