New Jersey Community Bank Announces Closure of Its Cranbury, New Jersey Office

FREEHOLD, NJ--(Marketwired - Apr 18, 2016) - New Jersey Community Bank (OTCQB: NJCB) announced today the closing of its Cranbury, New Jersey branch located at 68 South Main Street, Cranbury, New Jersey. The anticipated closing date is Friday, July 29, 2016. 

Mr. William H. Placke, Chairman and CEO of the Bank, stated: "Although this branch was unable to meet our expectations for deposit generation, we intend to continue to serve our customers in the Cranbury area through technology such as online banking, mobile banking and mobile deposit and remote deposit capture. With our lease expiring on July 31, our Board considered this closure to be a prudent cost-saving measure." 

New Jersey Community Bank is a New Jersey state-chartered commercial bank headquartered in Freehold, New Jersey. As of March 31, 2016, the Bank had $102.8 million in total assets, $68.8 million in loans and $90.9 million in deposits.