On April 23, 2007, First Bank commenced operations at its office at 1229 South Black Horse Pike in Williamstown, New Jersey. In October 2008, an investor group led by Patrick L. Ryan and Leslie E. Goodman recapitalized the bank with an investment of $19 million from various local investors.
In February 2009, First Bank opened its second branch office in Lawrence, New Jersey. A third branch office was opened shortly thereafter in Ewing, NJ. Both locations were examples of the bank’s low-cost strategy of entering previously-occupied bank locations and re-opening with minimal cost and capital investment.
Construction of the bank’s full-service branch location in Williamstown was completed in September of 2009.
In December of 2010, First Bank established a true corporate headquarters by moving into the old Yardville National Bank (YNB) headquarters building located in Hamilton, NJ at 2465 Kuser Road. The former YNB branch at that same location was opened as a First Bank branch one year later in December 2011. As the bank has continued to expand, the First Bank team now occupies almost the entire first floor of the building.
As of December 31, 2012, First Bank had four branches, over $350 million in assets, $260 million in loans and approximately $309 million in deposits. First Bank has 50 full-time equivalent employees working throughout Mercer and Gloucester Counties.
In a very difficult economic environment we have made loans to help individuals and small businesses and we have added significantly to our staff. We are doing our part to help grow the economy and help grow First Bank. With new branches, new markets, new products and new technology all under consideration, we’re excited for the future…….