Welcome to Bank of New Jersey’s web site.
FDIC
The FDIC insurance amount currently is $250,000 per depositor. The $250,000 limit is permanent for IRAs and other certain retirement accounts. The $250,000 limit is temporary for all other deposit accounts through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor. The extension announced on May 20, 2009, does not apply to the Transaction Account Guarantee Program. The unlimited coverage under the Transaction Account Guarantee Program is only in effect for depositors at participating institutions through December 31, 2009.Chairman’s Message
Who are we?
Bank of New Jersey is a newly-chartered community bank with headquarters at 1365 Palisade Avenue, our new main office in the heart of Fort Lee, NJ which opened in May, 2006.
Bank of New Jersey was successful in raising $43,600,000 in initial capital – the highest ever raised in the history of New Jersey banking, with no institutional investors and no underwriter.
Accordingly, we have opened five additional offices.
- Banking facilities are:
- 1365 Palisade Avenue, Fort Lee, NJ (201) 944-8600
- 204 Main Street, Fort Lee, NJ (201) 944-7200
- 458 West Street, Fort Lee, NJ (201) 944-7222
- 401 Continental Plaza, Hackensack, NJ (201) 968-0008
- 320 Haworth Avenue, Haworth, NJ (201) 387-9910
- 4 Park Street, Harrington Park, NJ (201) 750-9970
The bank has turned a profit each and every month since its third month of existence (August 2006) and offers a full range of products as follows:
- PERSONAL BANKING
- • Free Personal Checking
- • Direct Deposit
- • Cash Reserve Lines of Credit
- • On-Line Banking
- • Automatic Bill Pay
- • Free Visa Debit Card
- • Residential Mortgages
- • Co-op Loans
- • Home Equity Loans & Lines of Credit
- • Savings Accounts
- • Passbook Savings Accounts
- • Money Market Accounts
- • Certificates of Deposit
- • Individual Retirement Accounts (IRA)
- • ATM Bank Fees waived worldwide!
- BUSINESS BANKING
- • Free Business Checking
- • Business Money Market Accounts
- • Term Loans & Lines of Credit
- • On-Line Banking
- • Commercial Mortgages
- • Letters of Credit
- • Certificates of Deposit
- • Free Messenger Service
- • Remote Deposit Capture
- OTHER SERVICES
- • Safe Deposit Boxes
- • Gift Checks
- • Wire Transfers (Both Domestic and International)
- RECENT EVENTS
- • In November 2006 the bank holding company was incorporated as Bancorp of New Jersey, Inc.
- • On June 3, 2008 Bancorp of New Jersey, Inc. was approved and listed on the NYSE-Amex under the symbol BKJ
- • In October 2008 FDIC Deposit Insurance temporarily increased from $100,000 to $250,000 per depositor through December 2009
- • In May 2009 we applied for a seventh branch at 104 Grand Avenue, Englewood, NJ
- • The bank has elected to participate in the FDIC’s temporary transaction account guarantee program. Under that program, through December 31, 2009 all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount of the account. That coverage is in addition and separate from the coverage available under the FDIC’s general deposit insurance rules.
OUR VALUES
We pride ourselves on attracting and retaining the highest quality employees: three of our executives boast over 35 years’ banking experience each, and the majority of the existing staff were colleagues at BridgeView Bank, in our same market area which was merged in 2003.
We neither applied for nor accepted any T.A.R.P. (Troubled Asset Relief Program) money nor did we hold any FNMA or FHLMC stock. We offer no credit card portfolio, have no sub-prime mortgages or any mortgage-backed securities and no brokered deposits. We have not reduced even one client home equity credit line and continue to offer the same credit availability as good judgment dictates. The bank enjoys over $50,000,000 in total capital making it one of the safest institutions available.
IT’S ALL ABOUT RELATIONSHIPS
All Bank of New Jersey branches have full service business hours from 7:00 AM to 7:00 PM on weekdays and from 9:00 AM to 1:00 PM on Saturdays except the Hackensack office which is open from 8:00 AM to 6:00 PM on weekdays only. Branches have 24 hour ATMs as well as 24 hour telephone banking availability. All branches except Main Street, Fort Lee and Hackensack have drive-up facilities and our remote deposit feature is available for qualified businesses which want to avoid a trip to our office.
We answer our own telephones (Yes, the CEO too!) and you are invited to stop in and meet us where we offer a full line of deposit and loan products as well as free checking.
- We will guide ourselves with the age-old principles of banking:
- • KNOW YOUR CUSTOMER
- • PROVIDE FAIR DEALING
- • PROVIDE SAFETY
This is my promise; indeed, it is the covenant of Bank of New Jersey.
P.S. WELL BEHAVED DOGS ARE WELCOME!
MANAGEMENT SUCCESSION
Effective June 25, 2009 Michael Lesler was named President, Chief Operating Officer of Bancorp of New Jersey, Inc.. He will also join the Board of Directors of the Company and the Bank. A certified public accountant he served as Executive Vice President, Chief Financial Officer since the bank’s inception, previously serving in the same capacity at Bridge View Bank, Englewood Cliffs, NJ. Albert F. Buzzetti remains Board Chairman and Chief Executive Officer and states that management succession will be in good hands.