SOURCE: First Bank

October 03, 2013 16:52 ET

First Bank Opens New Somerset Branch and Serves Up Free Lunch

HAMILTON, NJ--(Marketwired - October 03, 2013) - First Bank (OTCBB: FRBA) today announced the opening of its newest, full-service branch location at 225 DeMott Lane, Somerset, NJ. This new location marks the first location for First Bank in Somerset County, NJ and the fifth overall branch location. First Bank now has three branches in Mercer County, one branch in Gloucester County, and one branch in Somerset. First Bank expects to add three locations in Morris County, NJ once the pending acquisition of Heritage Community Bank closes. Free lunch is being served at the new branch, 11:30AM-1:30PM, through October 7, 2013.

President and Chief Executive Officer Patrick L. Ryan discussed the new Somerset location: "We are very excited about this new location in Somerset. The branch is well located in a densely-populated residential area with significant commercial activity in close proximity as well. The branch is just one mile south of the active Easton Avenue commercial district and fewer than five miles from downtown New Brunswick. We expect to make solid inroads with both retail and commercial customers in the area."

Ryan continued: "In addition to the great location, the branch also fits nicely with our low-cost operating model. As a former bank branch, the location needed minimal capital investment and the overall square footage doesn't create a lot of wasted space. Plus, many consumers in the area are familiar with the location as a bank branch. We're eager to get them back."

About First Bank

First Bank (www.firstbanknj.com) is a New Jersey, state-chartered bank, which conducts its business with five full-service branches in Ewing, Hamilton, Lawrence, Somerset, and Williamstown, New Jersey. With $380 million in assets as of June 30, 2013, First Bank offers a range of deposit and loan products to individuals and businesses in its Central and Southern New Jersey markets. First Bank's common stock is quoted on the OTC Bulletin Board under the symbol "FRBA". 

{This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the Bank's control and could impede its ability to achieve these goals. These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, and results of regulatory exams, among other factors.}

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Contact Information

  • CONTACT:
    Patrick L. Ryan 
    President and CEO
    First Bank
    (609) 643-0168