(NASDAQ Global Market: CJBK)

Industry: Banks
On the web: http://www.cjbna.com
Employees: 128

Central Jersey Bancorp is a bank holding company headquartered in Long Branch, New Jersey. The holding company was incorporated in New Jersey on March 7, 2000, and became an active bank holding company on August 31, 2000 through the acquisition of Monmouth Community Bank, National Association. On January 1, 2005, the Company completed its strategic business combination transaction with Allaire Community Bank, a New Jersey state-chartered bank, according to which Allaire Community Bank became a wholly-owned bank subsidiary of Central Jersey Bancorp. On the effective date of the combination, the name of the holding company was changed from Monmouth Community Bancorp to Central Jersey Bancorp. Central Jersey Bank, N.A. offers a full range of retail and commercial banking services mainly to customers located in Monmouth County and Ocean County, New Jersey. These services include checking accounts, savings accounts, money market accounts, certificates of deposit, installment loans, real estate mortgage loans, commercial loans, wire transfers, money orders, traveler's checks, safe deposit boxes, night depositories, federal payroll tax deposits, bond coupon redemption, bank by mail, direct deposit, automated teller services and telephone and internet banking. The Bank has debit card, merchant card and international services available to its customers through correspondent institutions. The Bank currently has twelve full-service branch facilities located in Belmar, Bradley Beach, Long Branch, 2, Manasquan, Point Pleasant, Spring Lake Heights, Little Silver, Neptune City, Ocean Grove, and Wall Township, 2, New Jersey. It is a national association chartered by the Office of the Comptroller of the Currency. The Bank provides a range of financial products and services to individual consumers, small businesses and professionals in its market area. Central Jersey Bancorp's bank subsidiary, Central Jersey Bank, N.A., is community oriented and offers services and products designed to meet the banking needs of local individuals, businesses and professionals. In addition, Central Jersey Bank provides an array of consumer banking services to the general public residing or working in its market area. It offers competitive small business cash management services. The Bank's loan portfolio consists mainly of variable-rate and short-term fixed rate loans, with a concentration in commercial purpose transactions. Central Jersey Bank, through an unaffiliated third party vendor, offers a range of residential mortgage products at competitive rates. Central Jersey Bank closes its originated residential mortgages in its name and then sells its residential mortgage production to government agencies and private investors in order to manage interest rate risk and liquidity. It offers a full menu of consumer loan products that include home equity loans and lines of credit, secured and unsecured personal loans and auto loans. The Bank offers responsiveness, flexibility and local decision-making for loan applications of small business owners, thereby eliminating the delays generally associated with non-local management. The banking business in New Jersey is very competitive. The Bank actively competes for deposits and loans with existing New Jersey and out-of-state financial institutions. Its competition includes large financial service companies and other entities, in addition to traditional banking institutions such as savings banks, commercial banks, internet banks and credit unions. Central Jersey Bank operates within a system of banking laws and regulations intended to protect bank customers and depositors. These laws and regulations govern the permissible operations and management, activities, reserves, loans and investments of Central Jersey Bancorp and its subsidiaries. Central Jersey Bank, N.A., the banking subsidiary of Central Jersey Bancorp, is a national association, and is subject to the regulation, supervision and examination of the OCC.

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