ENGLEWOOD CLIFFS, N.J., Aug. 13, 2012 /PRNewswire/ -- North Jersey Community Bank (NJCB), one of the country's top performing community banks as ranked by SNL Financial, today announced its results for the second quarter ended June 30, 2012.
- Assets increased $166 million to $822 million from $656 million in the second quarter of 2011
- Loans increased $160 million to $730 million from $570 million in the second quarter of 2011
- Deposits increased $136 million to $666 million from $530 million in the second quarter of 2011
- Net income before payment of Preferred Stock Dividend increased to $2.08 million from $1.61 million in the second quarter of 2011
- Book Value per Share increased $5.01 to $21.51, an all-time high
"Despite the challenging environment that the banking sector continues to face, NJCB delivered increases in all key metrics in the second quarter of 2012," said Frank Sorrentino III, chairman and CEO of North Jersey Community Bank. "Our commitment to customer service underscores everything we do. In a marketplace where larger banks continue to disappoint their customers, this focus is a key to our success and growth."
Of particular note, NJCB's Book Value per Share increased dramatically during the second quarter driven by record earnings as well as the conversion of preferred shares into common stock.
"We remain dedicated to investing in our most valuable asset – our staff – which has enabled us to grow with our customers and remain the better place to be," Sorrentino continued. "We are also consistently adding to our product offerings, such as our new mobile remote capture for iPhone and Android, to ensure we offer the best possible banking solutions for our customers."
NJCB offers a complete range of financial services for both personal and business customers, backed by advanced technology. The Bank provides a full-line of banking products and services, including mortgages, home equity loans and lines of credit, as well as a wide selection of commercial services. Its "Simply Better Money Market Account," with one of the highest rates in the area, is available for both business and personal accounts and includes free checking and free online bill pay, and now mobile banking. Each of its branches feature NJCB's exclusive "Coin Toss" free coin counting machine as well as extended lobby hours from 7:00 a.m. to 7:00 p.m., Monday through Friday and 9:00 a.m. to 1:00 p.m. Saturday. NJCB also provides 24-hour ATM service and free online banking at www.njcb.com.
About North Jersey Community Bank (NJCB):
NJCB was founded by local community and business leaders to provide the highest level of personalized community banking services to the New Jersey market and surrounding area. With a strong commitment to the communities it serves, the bank offers a variety of innovative deposit and loan products.
NJCB is one of the country's top performing community banks, as ranked by SNL Financial, a leading provider of news and data on the banking and financial services industry, for two consecutive years. Additionally, NJCB received a top 10 ranking on NJBIZ's 50 Fastest Growing Companies List, was a finalist for the publication's Business of the Year award and was named to Inc. Magazine's Inc. 500|5000 list as the 64th fastest growing bank in the country.
NJCB has also been a recipient of the Forbes® Enterprise Awards -- the most esteemed and sought after small-business awards in the United States. The Forbes® Enterprise Awards honor the visionary practices and exemplary achievements of a select few small businesses.
NJCB is an Equal Housing and Equal Opportunity Lender, and a member of the Federal Deposit Insurance Corporation. For more information, call 201-816-8900, go online to the bank's website at www.njcb.com, or visit NJCB's Facebook page at www.facebook.com/NJCBfan.
SOURCE North Jersey Community Bank