New EVP Plans To Keep Pace With Record-Setting Demand for Loans
HAMILTON, N.J., Oct. 11, 2018 (GLOBE NEWSWIRE) -- First Bank (NASDAQ: FRBA) announced today that it has hired a new Chief Deposit Officer to complement the community bank’s growing loan activity.
Emilio Cooper—First Bank’s new EVP/Chief Deposit Officer—brings more than 20 years of banking experience. He will support the community bank’s on-going success in existing retail, small business, municipal and commercial deposit areas.
“Core deposit growth is one of our most important strategic priorities,” said First Bank President and CEO Patrick L. Ryan. “The addition of Emilio together with the great teams and leaders already in place at First Bank will allow us to continue our path toward becoming a strong deposit gatherer.”
Throughout his career, Cooper has increased deposits by establishing “At Work” programs that introduce bank services to the employees of local businesses. In his most recent position as head of sales and distribution for BMO Harris Bank, he developed and executed the retail bank strategy, growing its customer base and deposits.
“At his core, Emilio has an entrepreneurial mindset with a community banking frame of reference,” added Ryan about the new EVP who started his career in the South Jersey/Greater Philadelphia market. “He can build teams, communicate strategies and inspire team members to achieve.”
First Bank is projected to set another record for loan activity in 2018, which will increase demand for deposits. Last year, the community bank closed a record-high 141 commercial real estate loans, totaling $267.2 million in commitments. Last month, First Bank hired a new construction lending manager to spur further growth on the lending side.
First Bank’s “old-fashioned” relationship-driven formula is working. The bank has delivered a 52 percent compound annual growth rate during the past 10 years. It was recently named one of S&P Global Market Intelligence’s Best Performing Community Banks in the United States for record growth and profitability. First Bank has been recognized by NJBIZ as part of its “Fast 50” each of the past three years.
First Bank’s Secret to Success
There are several reasons why First Bank is one of the fastest growing community banks in the nation.
For example, the bank believes in local decision-making. In other words, clients actually have access to First Bank’s decision-makers. The bank’s market executives have lending authority—and use it. For larger clients, customers can expect to talk to the bank’s CEO, who plays a pivotal role in helping to foster lasting business relationships.
Most importantly, the community bank views itself as a solution-provider, where everything begins with a conversation. First Bank’s employees listen intently and ask smart questions, so they can provide the best answer.
In addition, First Bank operates with a long-term mindset. It recognizes that its reputation is its most valuable asset. To preserve its good name, First Bank keenly focuses on delivering the best long-term results. By providing great recommendations and following through on its promises, the community bank continues to build its reputation and base of happy customers.
The community bank’s branches offer the bank’s full range of financial solutions for families and businesses, including:
- Personal deposit accounts
- Business deposit accounts
- Certificates of deposits
- Retirement accounts
- Cash management services
- Commercial lending
- Lines of credit
- Term loans
- Real estate loans
First Bank is an 18-branch community bank. The bank had $1.6 billion in assets and $1.3 billion in deposits as of June 30, 2018.
The bank offers traditional deposit and loan banking services for individuals, families and commercial clients. The bank has approximately 180 employees working throughout New Jersey in Burlington, Gloucester, Hunterdon, Mercer, Middlesex, Somerset and Morris counties, as well as in Bucks and Chester counties, Pennsylvania.
To learn more about First Bank, visit firstbanknj.com.
About First Bank
First Bank (firstbanknj.com) is a New Jersey state-chartered bank with 18 full-service branches throughout New Jersey in Burlington, Gloucester, Hunterdon, Mercer, Middlesex, Somerset and Morris counties, as well as in Bucks and Chester counties, Pennsylvania. With $1.6 billion in assets as of June 30, 2018, First Bank offers a traditional range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor. First Bank's common stock is listed on the Nasdaq Global Market exchange under the symbol “FRBA.”
CONTACT: Patrick L. Ryan, President and CEO
(609) 643-0168, patrick.ryan@firstbanknj.com