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Brick, New Jersey, March 4, 2010 –Crown Bank (Crown) one of the top performing privately held banks in New Jersey, announced today that they have finalized a long term credit card and check guarantee processing agreement with NationalCard Processing Systems (NationalCard) a national credit and debit card processing firm.
As a result, NationalCard will now provide direct sales and marketing support for the bank's card processing to all existing and prospective accounts.
Additionally, Crown Bank recently announced that it has purchased from the Federal Deposit Insurance Corporation (FDIC) the assets and all deposits of the failed First BankAmericano, Elizabeth, NJ. The combined assets will exceed $550 million and Crown will now have an expanded branch network of 16 locations throughout New Jersey.
First BankAmericano was chartered in January 1997 and was organized to serve the multi-cultural business community, professional and individuals who work and reside within the bank's trade area. Over the years the bank contributed through its six branch offices to the economic prosperity of the communities they served.
While current economic conditions have forced many larger banks to curtail lending and close locations; Crown is leveraging its strong financial position for growth. For the trailing twelve (12) month period the bank has seen a 30% grow rate in assets, and with this purchase will increase the growth rate by 85%. Within the past twelve months Crown has succeeded in opening four additional branch locations and will continue its mission of providing banking services to urban communities underserved by large national banks. Customers will now have the benefit of larger loan access due to the asset size of the two entities, even in the current economic environments. For additional information regarding Crown Bank please visit www.crownbank.net.
“Our agreement with NationalCard is extremely timely in that it further positions our newly expanded statewide footprint for meaningful growth through non interest bearing core deposits generated from merchant credit card deposits. We are extremely pleased to partner with NationalCard and look forward toward a long lasting mutually beneficial relationship,” said Alfonso Ciliberto, Senior Vice President and Branch Administrator.
“We are delighted to partner with Crown Bank and support them and their commercial customers in the acceptance of credit card and check guarantee transactions. We too look forward toward what we know will be a key relationship in the months and years ahead,” said Rafael Garcia, Senior Vice President, Agent Bank Relationships.
Headquartered in Rochelle Park, NJ, NationalCard provides a full range of credit, debit card and check guarantee processing services for financial institutions, government agencies, non-profit organizations and major retailers throughout the country. NationalCard offers a comprehensive line of processing solutions that include all major credit and debit cards, business to business purchasing cards, check verification and check guarantee as well as electronic check conversion and gift/loyalty cards. The company also provides for a full range of point-of-sale terminals and industry focused software/hardware interfaces. For more information, please visit www.nationalcard.net.
Cranbury, NJ, March 3, 2010 –1st Constitution Bank today announced they have finalized a credit-card and check guarantee processing agreement with NationalCard Processing Systems, a national credit- and debit-card processing firm. As a result, NationalCard will now provide direct sales and marketing support for the Bank's credit-card processing to all existing and prospective merchant accounts.
Operating under the motto “Community Banking with You in Mind,” 1st Constitution Bank President and Chief Executive Officer, Robert F. Mangano believes the two companies to be a perfect fit. “We know that as a community bank, we must provide customers with the best solution to their financial needs, and our view the agreement with NationalCard will serve that mission” said Mangano. “Our business customers will receive state-of-the-art credit and debit card merchant processing, with superior customer service, as well as the most attractive rates.”
“1st Constitution Bank and NationalCard are very similar in their customer-focused business philosophies which make for a welcomed and very beneficial partnership. NationalCard will provide 1st Constitution with the proven electronic processing tools demanded in today's marketplace in order to remain competitive and successfully service their client base of merchants,” said Rafael J. Garcia, Senior Vice President of NationalCard's Agent Bank Group.
1st Constitution Bank began its operations in 1989 and operates 11 branch banking offices in Cranbury (2), Jamesburg, Fort Lee, CityHamilton, Hightstown, Montgomery, Perth Amboy, Plainsboro, Princeton, and West Windsor. 1st Constitution also operates www.1stconstitutiondirect.com which is an internet bank available for its clients who prefer to bank from their computer rather than traveling to a branch office. For additional information regarding 1st Constitution Bank, visit their website www.1stconstitution.com or call (609) 655-4500. The Bank's deposits are insured by the Federal Deposit Insurance Corporation.
Headquartered in Rochelle Park, NJ, NationalCard provides a full range of credit, debit card and check guarantee processing services for financial institutions, government agencies, non-profit organizations and major retailers throughout the country. NationalCard offers a comprehensive line of processing solutions that include all major credit and debit cards, business to business purchasing cards, check verification and check guarantee as well as electronic check conversion and gift/loyalty cards. The company also provides for a full range of point-of-sale terminals and industry focused software/hardware interfaces. For more information, please visit www.nationalcard.net
