Feature News

Citizens Bank Location in Ridgewood is Now Seventh North Jersey Community Bank Branch

NJCB Continues its Stable, Strong and Unprecedented Growth Despite Turbulent Economic Conditions

ENGLEWOOD CLIFFS, N.J., May 1 /PRNewswire/ -- North Jersey Community Bank (NJCB), the fastest growing bank in New Jersey, today announced it has assumed from the Federal Deposit Insurance Corporation (FDIC) approximately $41 million in total deposits of Citizens Community Bank in Ridgewood, New Jersey. NJCB will also begin operating its seventh branch at the former Citizens Community Bank location immediately.

"While it is unfortunate to see a fellow community bank fail, we appreciate the opportunity to work with the FDIC and look forward to providing the customers of Citizens Community Bank with our unparalleled level of customer service," said Frank Sorrentino III, chairman and CEO of North Jersey Community Bank. "NJCB already has a unique knowledge of the Ridgewood area and we are confident in our ability to conduct 'business as usual,' providing a smooth transition for all those affected."

"Our simple business model of taking in deposits and making loans to qualified customers in the communities that we serve has allowed us to continue our solid growth even in the most challenging of times," continued Sorrentino III. "As we continue to follow this model and offer a wide range of financial products, services, and the latest technology, we will thrive in any economic conditions and continue to make NJCB 'A Better Place to Be'."

The sole branch of Citizens Community Bank, located at 171 East Ridgewood Avenue, will reopen on Monday, May 4 as the seventh branch of NJCB. Depositors of Citizens Community Bank will automatically become depositors of NJCB and deposits will continue to be insured by the FDIC, up to $250,000 for interest bearing accounts and without limitation for non-interest bearing transactional accounts. Depositors of Citizens Community Bank will continue to have uninterrupted access to their accounts and can continue to write checks as well as use their ATM and debit cards as they please. Loan customers should continue to make regularly scheduled payments.

NJCB's dedication to providing industry leading customer service is the primary reason for its success. Employees provide personalized service to each customer, tailored to fit their each and every need. In addition, the bank's 'back to the basics' mantra has enabled NJCB to increase its market share and customer's wallet share at the same time.

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. The bank features signature amenities including a free coffee bar, customer lounge and business center complete with plasma screen TVs and internet connections. Each of the seven branches also 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. In addition, the Cresskill, Cliffside/Fort Lee, Hackensack and West New York locations offer a drive-thru window with extended hours from 7:00 a.m. to 7:00 p.m. NJCB also provides 24-hour ATM service and free online banking at www.njcb.com.

About North Jersey Community Bank (NJCB):

North Jersey Community Bank was founded by local community and business leaders to provide the highest level of personalized community banking services to Northern New Jersey. With a strong commitment to the communities it serves, the bank offers a variety of innovative deposit and loan products.

North Jersey Community Bank was recently named number 18 on NJBIZ's 50 Fastest Growing Companies list and was a finalist for the publication's Emerging Business of the Year award.

In addition, NJCB was also a recipient of the Forbes(R) Enterprise Awards--the most esteemed and sought after small-business awards in the United States. The Forbes(R) 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, or visit the bank's web site at www.njcb.com.