First Bank (Nasdaq Global Market: FRBA), a New Jersey state-chartered bank, completed its merger with Grand Bank, N.A., previously headquartered in Hamilton, New Jersey.
The amount of the deal was not disclosed.
This transaction expands First Bank’s Mercer County, New Jersey presence through the addition of two full-service locations. As a combined financial institution, First Bank will have over $2.0 billion in assets and over $1.6 billion in deposits.
Peter Pantages, former Chairman, President and Chief Executive Officer of Grand Bank, will remain with First Bank on the board of directors.
Led by Patrick L. Ryan, President and Chief Executive Officer, First Bank is a New Jersey state-chartered bank with 18 full-service branches in Cinnaminson, Cranbury, Delanco, Denville, Ewing, Flemington, Hamilton, Lawrence, Pennington, Randolph, Somerset and Williamstown, New Jersey, and Doylestown, Trevose, Warminster and West Chester, Pennsylvania.
With over $2.0 billion in assets as of September 30, 2019, First Bank offers a traditional range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor.