North Jersey Community Bank Announces Financial Results For First Quarter 2012

ENGLEWOOD CLIFFS, N.J., May 22, 2012 /PRNewswire/ -- North Jersey Community Bank (NJCB), one of the country's top performing community banks, as ranked by SNL Financial for the second year in a row, today announced its results for the first quarter ended March 31, 2012.

Highlights include:

• Assets increased $132 million to $763 million in comparison to the fourth quarter of 2011
• Loans increased $165 million to $690 million in comparison to the fourth quarter of 2011
• Net income before payment of Preferred Stock Dividend increased $300,000 to $1.84 million
• Quarterly Earnings per Share grew to $0.76, a $0.13 increase from the fourth quarter of 2011
• Book Value per Share increased $2.82 from the fourth quarter of 2011 to $18.58, an all-time high

"NJCB's strong first quarter results demonstrate our ability to consistently deliver solid top-line and bottom-line growth," said Frank Sorrentino III, chairman and CEO of North Jersey Community Bank. "Our disciplined business model and strategic approach to expanding our product line and footprint continues to reap benefits and makes us optimistic about our future in an otherwise challenging financial services environment."

NJCB has built capital through organic retained earnings and by attracting new investors willing to support its customer focused business model.

Sorrentino continued, "The foundation of NJCB is customer service. We focus on the people, businesses, and communities we serve. It is the mission of the entire NJCB team, differentiating us from many of our competitors in the banking sector, and the reason for our success."

North Jersey Community Bank offers a complete range of financial services for both personal and business customers, backed by advanced technology. The bank provides a full-line of banking products and services, including mortgages, home equity loans and lines of credit, as well as a wide selection of commercial services. Its "Simply Better Money Market Account," with one of the highest rates in the area, is available for both business and personal accounts and includes free checking and free online bill pay, and now mobile banking.  Each of its branches feature NJCB's exclusive "Coin Toss" free coin counting machine as well as extended lobby hours from 7:00 a.m. to 7:00 p.m., Monday through Friday and 9:00 a.m. to 1:00 p.m. Saturday. NJCB also provides 24-hour ATM service and free online banking at www.njcb.com.

About North Jersey Community Bank (NJCB):

North Jersey Community Bank was founded by local community and business leaders to provide the highest level of personalized community banking services to the Northern New Jersey Market. With a strong commitment to the communities it serves, the bank offers a variety of innovative deposit and loan products. 

NJCB is one of the country's top performing community banks, as ranked by SNL Financial, a leading provider of news and data on the banking and financial services industry. Additionally, NJCB received a top 10 ranking on NJBIZ's 50 Fastest Growing Companies List, was a finalist for the publication's Business of the Year award and was named to Inc. Magazine's Inc. 500|5000 list as the 64th fastest growing bank in the country.

In addition, NJCB was also a recipient of the Forbes® Enterprise Awards -- the most esteemed and sought after small-business awards in the United States. The Forbes® Enterprise Awards honor the visionary practices and exemplary achievements of a select few small businesses.

NJCB is an Equal Housing and Equal Opportunity Lender, and a member of the Federal Deposit Insurance Corporation.  For more information, call 201-816-8900, go online to the bank's website at www.njcb.com, or visit NJCB's Facebook page at www.facebook.com/NJCBfan.

SOURCE North Jersey Community Bank