FORT LEE, N.J., Dec. 26, 2018 /PRNewswire/ -- Noah Bank resolved its lawsuit with Duluth, Ga.-based NOA Bank in which Noah Bank raised allegations that NOA Bank had violated the Lanham Act, including trademark infringement, false designation of origin and description and unfair competition, as well as a number of related state law claims. NOA Bank, which filed a counterclaim in the lawsuit to cancel Noah Bank's trademark, is a unit of NOA Bancorp Inc.
Without either side admitting liability, the parties mutually agreed to settle the matter with each side taking steps to avoid the possibility of consumer confusion in the future.
President and CEO of Noah Bank Edward Shin stated, "We are very pleased with the outcome of this litigation."
As of September 30, 2018, Noah Bank had assets of approximately $418 million, deposits of approximately $361 million, and loans of approximately $328 million (net of loan loss allowance).
About Noah Bank
With its legal headquarters in Elkins Park, PA, Noah Bank is a Pennsylvania-chartered bank that was launched in 2004. Operational headquarters are in Fort Lee, New Jersey. Noah Bank provides banking products and services to businesses and consumers primarily in the Asian-American communities of Southeastern Pennsylvania, Northern New Jersey, Manhattan, New York and Flushing, New York. More information is available at www.noahbank.com.
SOURCE Noah Bank
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