Chairman of the Board, Abraham Opatut, added: "We are very thankful for the support we have received from both our current shareholders and our new investors. This new capital will help insure that we continue to exceed all regulatory capital requirements even as we continue our significant growth."
Since January 1, 2011, the Bank's total assets have grown by more than 877%, to $758.4 million at June 30, 2016, while its total loans have grown by 1,161% to $701.3 million at June 30, 2016. Funding these increases, the Bank's total deposits have grown by 1,104% from January 1, 2011, to $670.5 million at June 30, 2016.
First Commerce Bank is a New Jersey chartered commercial bank, headquartered in Lakewood, New Jersey. Through its headquarters and eight branch locations, the Bank serves customers in central New Jersey, Bergen County and Rockland County, New York. The Bank services small to mid-sized business, providing credit and deposit products.
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SOURCE First Commerce Bank