First Commons Bank Assets Top $84 Million in Third Quarter of Operations

NEWTON, Mass., April 21 /PRNewswire/ -- First Commons Bank, N.A. reported that its assets have grown to more than $84 million during its third quarter of operations ending March 31, 2010. The bank started operating on July 22, 2009 and serves businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts.

"First Commons Bank's continued extraordinary asset growth has now placed us in the top 71% of all banks nationally,"  said Tony Nuzzo, Chairman, President and Chief Executive Officer. "With almost 8,000 FDIC-insured banks in the US filing fourth quarter reports, our assets have surpassed more than 2,300 banks after approximately eight months of operations."

"First Commons Bank is a common sense bank with quick loan decisions, easy access to decision makers, fair pricing, and great service," said Nuzzo. "We are filling consumer and business voids created by the large banks and have recently added staff to intensify our focus on the commercial lending gaps in the marketplace."

Nuzzo added, "Although we are pleased with our asset growth to-date as one measure of success, First Commons Bank is also focused on the bottom line."  

About First Commons Bank

First Commons Bank, a nationally-chartered, FDIC-insured, full-service, community bank, is dedicated to serving the banking needs of small to mid-size businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts. First Commons Bank combines the industry's most advanced technology with a highly experienced, onsite, management team to provide clients with superior, personalized service and the highest quality banking experience. It offers a comprehensive portfolio of retail and business banking services, including checking and savings accounts, online banking, ATM/debit cards, money market accounts, certificates of deposit, home equity loans, residential and commercial mortgages, consumer and business loans, and cash management services. First Commons Bank (www.firstcommonsbank.com) is headquartered at 718 Beacon Street in Newton Centre, Massachusetts.

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SOURCE First Commons Bank, N.A.