First Bank Adds Commercial Deposit Division

By GlobeNewswire,  June 19, 2017, 05:45:00 PM EDT


Darren Kay Will Lead New Line for Deposits, Cash Management

HAMILTON, N.J., June 19, 2017 (GLOBE NEWSWIRE) -- To continue to foster growth, First Bank (NASDAQ:FRBA) announced today that it has added a new commercial deposit division that will focus on deposits and cash management for commercial clients.

"At First Bank, we focus on building long-term, mutually-beneficial relationships with our customers so that we can meet their needs at each stage of life," said Patrick Ryan, CEO of First Bank, which recently completed a successful $40 million stock offering for additional growth. "We wanted someone to lead our commercial deposits to create an even more robust program for our business customers."

Darren Kay, director of commercial deposits, will lead the new division of the 10-branch community bank, which was recently named Distinguished Corporation of the Year by the MIDJersey Chamber of Commerce, targeting mid- to large-size companies with more sophisticated deposit and cash management needs.

"Kay brings a wealth of experience and perspective, along with 18 years of commercial banking, with him to First Bank," Ryan said.  "He has worked at larger financial institutions, as a group director at Signature Bank and a market sales executive at Capital One in the NYC market. His experience and background includes portfolio management, strategic planning, as well as driving results focused on deposit growth, credit production, fee income and cash management.  Kay has an excellent ability to understand what mid- to larger-sized clients' needs and wants are. We believe he is an excellent fit for our growing community bank."

In addition to being a true community bank, First Bank's leadership team wants to build its reputation as a full-service commercial bank that can partner with businesses to help them grow and improve the surrounding communities.

Kay is looking forward to helping First Bank with its continued growth.

"I'm thrilled to be a part of First Bank, and I am excited to bring my perspective to this new division," said Kay, who will work out of the company's Hamilton location. "We are a trusted advisor to our clients with a philosophy involving a proactive consultative approach to solving their needs. Simplicity, efficiency and transparency are at the forefront of the client experience. Our customers and our relationships are very important to us, particularly in today's competitive landscape where we are dedicated to establishing true client-centric relationships."

Darren works out of the company's Hamilton location and can be reached at 609-643-0797 or via email at Darren.kay@firstbanknj.com.

First Bank continues its growth on the heels of its recent announcement that it will acquire Bucks County Bank, which will add four branches to the existing 10 in New Jersey and Bucks County, Pennsylvania. Ryan was appointed to the Federal Reserve Bank of Philadelphia's Community Depository Institutions Advisory Council (CDIAC) in January.   

About First Bank

First Bank is a New Jersey state chartered bank with ten full-service branches in Cranbury, Denville, Ewing, Flemington, Hamilton, Lawrence, Randolph, Somerset and Williamstown, New Jersey, and Trevose, Pennsylvania. With $1.1 billion in assets as of March 31, 2017, First Bank offers a traditional range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor.

Contact:

Patrick L. Ryan
President and CEO
First Bank
(609) 643-0168
patrick.ryan@firstbanknj.com

Source: First Bank

This article appears in: News Headlines

Referenced Stocks: FRBA


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