History

On April 23, 2007, First Bank commenced operations at its office at 1229 South Black Horse Pike in Williamstown, New Jersey. The community bank’s solid business practices caught the eye of experienced banking investors, and in June, 2008 First Bank announced an agreement to recapitalize the bank with an investment of $15 to $30 million in additional capital from this investor group.

Even in a challenging economic climate, the investor group raised over $19 million in new capital by October 24, 2008 and First Bank consummated its capital offering and recapitalization.

In February 2009, First Bank opened its second branch office in Lawrence, New Jersey. A third branch in Ewing, New Jersey opened just a few weeks later.

Construction on the bank’s permanent branch location in Williamstown was completed in August of 2009 with occupation completed in September of 2009.

In a little over two years since the recapitalization, First Bank has grown to over $200 million in assets with $175 million in loans and over $200 million in deposits.  First Bank has over 35 full-time 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.  And, we are just getting started…