1st Constitution Bancorp is a bank holding company registered under the Bank
Holding Company Act of 1956, as amended. The Company was organized under the
laws of the State of New Jersey in February 1999 for the purpose of acquiring
all of the issued and outstanding stock of 1st Constitution Bank (the “Bank”)
and thereby enabling the Bank to operate within a bank holding company structure.
The Company became an active bank holding company on July 1, 1999. The Bank
is a wholly-owned subsidiary of the Company. Other than its investment in the
Bank, the Company currently conducts no other significant business activities.
The Bank is a commercial bank formed under the laws of the State of New Jersey
and engages in the business of commercial and retail banking. As a community
bank, the Bank offers a wide range of services (including demand, savings and
time deposits and commercial and consumer/installment loans) to individuals,
small businesses and not-for-profit organizations principally in the Fort Lee
area of Bergen County and in Middlesex, Mercer, Somerset and Monmouth Counties
of New Jersey. The Bank conducts its operations through its main office located
in Cranbury, New Jersey, and operates eighteen additional branch offices in
downtown Cranbury, Hamilton Square, Hightstown, Hillsborough, Hopewell, Jamesburg,
Lawrenceville, Perth Amboy, Plainsboro, Skillman, West Windsor, Fort Lee, Princeton,
Rumson, Fair Haven, Shrewsbury, Little Silver and Asbury Park, New Jersey. The
Bank’s deposits are insured up to applicable legal limits by the Federal
Deposit Insurance Corporation (“FDIC”).
Management efforts focus on positioning the Bank to meet the financial needs
of the communities in Middlesex, Mercer, Somerset and Monmouth Counties and
the Fort Lee area of Bergen County and to provide financial services to individuals,
families, institutions and small businesses. To achieve this goal, the Bank
is focusing its efforts on:
expansion of the Bank;
personal service; and
technological advances and e-commerce.
On February 7, 2014, the Company and the Bank closed on the merger of Rumson-Fair
Haven Bank and Trust Company, a New Jersey state commercial bank (“Rumson”),
with and into the Bank, with the Bank continuing as the surviving entity (the
“2014 Merger”), pursuant to the terms and conditions of that certain
Agreement and Plan of Merger, dated August 14, 2013 and as amended on September
19, 2013 (the “Merger Agreement”), by and between the Company, the
Bank and Rumson.
Personal Service
The Bank provides a wide range of commercial and consumer banking services to
individuals, families, institutions and small businesses in central and coastal
New Jersey and the Fort Lee area of Bergen County. The Bank’s focus is
to understand the needs of the community and the customers and tailor products,
services and advice to meet those needs. The Bank seeks to provide a high level
of personalized banking services, emphasizing quick and flexible responses to
customer demands.
Technological Advances and e-Commerce
The Bank recognizes that customers want to receive service via their most convenient
delivery channel, be it the traditional branch office, by telephone, ATM, or
the internet. For this reason, the Bank continues to enhance its e-commerce
capabilities. At www.1stconstitution.com, customers have easy access to online
banking, including account access, and to the Bank’s bill payment system.
Consumers and businesses may also access their accounts and make deposits through
their mobile devices. Consumers can apply online for loans and interact with
senior management through the e-mail system. Business customers have access
to cash management information and transaction capability through the Bank’s
online Cash Manager product which permits business customers to make deposits,
originate ACH payments, initiate wire transfers, retrieve account information
and place “stop payment” orders. This overall expansion in electronic
banking offers the Bank’s customers means to access the Bank’s services
easily and at their own convenience.
The Bank’s lending activities include both commercial and consumer loans.
Loan originations are derived from a number of sources including real estate
broker referrals, mortgage loan companies, direct solicitation by the Bank’s
loan officers, existing depositors and borrowers, builders, attorneys, walk-in
customers and, in some instances, other lenders. The Bank has established disciplined
and systematic procedures for approving and monitoring loans that vary depending
on the size and nature of the loans.
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