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Valley National in N.J. Taps New President

American Banker

Valley National Bancorp in Wayne, N.J., breaking_news people corporate-governance nj national-regionalhas a new president.

NJ 28
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NJ’s American Dream Mega-Mall Bucks Mall Vacancy Trend

PYMNTS

North America’s first indoor snow sports center is at ADM, as well as a National Hockey League?sized The highly anticipated American Dream Mall (ADM) in New Jersey will hold its last opening day celebration in March with almost 100 percent of its 3.3

NJ 131
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NJ Launches First Mobile App For Lottery Tickets

PYMNTS

It is also a National Council on Problem Gambling member and says it’s “the first third-party lottery service to receive a responsible gambling certification from the NCPG’s Internet Responsible Gambling Compliance Assessment Program.”.

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Valley National in N.J. Names Consumer Banking Chief

American Banker

Valley National Bancorp in Wayne, N.J., breaking_news people womenin-banking nj recruitment community-bankinghas promoted Dianne Grenz to become its chief consumer banking officer.

NJ 28
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Valley National in N.J. Raising Capital to Fund Loan Growth

American Banker

breaking_news dealmaking-strategy national-regional capital strategic-alternatives nj community-bankingThe $22 billion-asset company said in a press release Thursday that it is looking to sell 8.4 million shares of common stock, though it could sell another 840,000 shares if there is enough demand.

NJ 34
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Valley National in N.J. Starts Search for Chief Operating Officer

American Banker

Valley National Bancorp in Wayne, N.J, breaking_news people corporate-governance nj national-regionalis searching for a new chief operating officer. The $22 billion-asset company said in a press release Wednesday that Peter Crocitto will retire on Feb.

NJ 29
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Bitcoin Daily: Avanti Preparing To Apply For Banking Charter; NJ Lawmaker Introduces Regulatory Rules On Crypto

PYMNTS

Some representatives from the world’s central banks discussed the matter last week in Kyiv, Ukraine, at a conference arranged by the National Bank of Ukraine.

NJ 130
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NJ Online Gaming Revenue Set To Grow 66 Pct This Year

PYMNTS

In separate news, reports surfaced in September that mobile sports betting is quickly growing to a point where New Jersey is close to topping Las Vegas as the biggest market in the nation.

NJ 130
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Sun of N.J. Taps Director to Serve as Nonexecutive Chairman

American Banker

Sun Bancorp in Mount Laurel, N.J., billion-asset parent of Sun National Bank, said independent director Anthony Coscia will serve as chairman of both starting Dec. people breaking_news corporate-governance nj community-bankingthe $2.1

NJ 34
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Valley National COO to Retire

American Banker

The chief operating officer of Valley National Bancorp in Wayne, N.J., breaking_news people corporate-governance nj national-regionalwill step down next month.

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Bitcoin Daily: NJ Assembles Blockchain Initiative Task Force; IBM Eyes Blockchain Browser

PYMNTS

FATF would manage the project, while the 15 nations, including the G7 members, Australia and Singapore, would develop the system, according to Nikkei Asian Review. New Jersey ’s governor has signed a bill to implement a Blockchain Initiative Task Force. Bill S2297 explained that the task force will study potential uses for blockchain technology on the state and local level, with an emphasis on medical records, land records, banking, and property auctions as potential applications.

NJ 125
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FanDuel Suffers $5M Loss In NJ On Inaugural Legal Super Bowl Wagers

PYMNTS

The game was also the lowest scoring in the history of the National Football League. FanDuel, a daily fantasy sports provider and bet taker site, said it lost $5 million on the Super Bowl on Sunday after taking some of New Jersey’s first legal sports bets, according to a report in Bloomberg. FanDuel said that upwards of 75 percent of all the money bet on the game was on the New England Patriots, who were favored.

NJ 123
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Retail Pulse: Zola Opens NYC Store; Kleinfeld Shop ‘Pops Up’ In NJ

PYMNTS

On average, they are priced at under half the cost of the national average of wedding dresses in the U.S., Digitally native retailers are opening stores to bring their virtual experiences into the real world, and Zola is one of the latest merchants to test out the brick-and-mortar waters. The wedding retailer opened a store in New York City’s Flatiron District that is billed as a “one-stop-shop for wedding planning.”.

NJ 119
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Valley National Boosts Profit on Revenue Increase

American Banker

Valley National Bancorp in Wayne, N.J., breaking_news performance earnings-community-banks nj community-bankinghad stronger quarterly profit that reflected improved revenue.

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Valley National Profits on Loan Activity

American Banker

Valley National Bancorp in Wayne, N.J., breaking_news earnings-community-banks performance nj community-bankingreported higher quarterly profit because of loan sales and increases in other fees.

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Valley National Taps Ex-PNC Exec as Information Chief

American Banker

Valley National Bank in Wayne, N.J., breaking_news national-regional people nj mobile digital-banking recruitment bank-technologyhas appointed former PNC executive Robert Bardusch to be its chief information officer.

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Loan Sales, Other Fees Help Valley National Post Higher Profit

American Banker

Valley National Bancorp in Wayne, N.J., breaking_news earnings-community-banks performance nj community-bankingreported higher quarterly profit because of loan sales and increases in other fees.

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Valley National Pays Off FHLB Debt, Ends Swap Agreement

American Banker

Valley National Bancorp in Wayne, N.J., breaking_news nj community-bankinghas taken several steps to help it navigate through a difficult interest rate environment.

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Why N.J. Bank Refuses to Take Successful SBA Program National

American Banker

Unity Bancorp is raking in money from holding and selling 7(a) loans, but don't expect the bank to extend its operations beyond New Jersey and New York. Management learned that lesson the hard way during the financial crisis. dealmaking-strategy sba strategic-alternatives performance commercial-lending community-banking

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Berkshire Hills to Gain National Mortgage Platform in Latest Deal

American Banker

has agreed to buy First Choice Bank in Lawrenceville, N.J. breaking_news community-banking consumer-finance m-a mortgage ma nj dealmaking-strategyBerkshire Hills Bancorp in Pittsfield, Mass.,

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Calif., N.J. Investigate Wells Fargo, Prudential for Sham Insurance

American Banker

breaking_news national-regional law-regulationThe California Department of Insurance launched an investigation Monday into allegations that Wells Fargo employees signed up consumers for Prudential Insurance policies without their authorization.

NJ 34
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Rebeca Romero Rainey: You are the backbone of our nation’s financing

Independent Banker

When I think about how the lending market has changed over the past decade, there is one consistent theme—community banks have been, and continue to be, the backbone of our nation’s financing. Then there’s First Bank in Hamilton, N.J., “When our customers’ needs take center stage, we identify creative solutions to help them achieve their dreams.”.

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CIT Profit Plunges on Reverse-Mortgage Problems

American Banker

Quarterly profit at CIT Group plunged after the in Livingston, N.J., breaking_news consumer-finance nj earnings-national-regional-banks performance national-regionalcompany recorded $167 million in charges tied to its discontinued reverse-mortgage servicing unit.

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Valley National's Shares Fall 5% on Revenue Miss

American Banker

Shares of Valley National Bancorp. slumped Wednesday after the Wayne, N.J., company reported a first-quarter profit that fell short of analysts' expectations. breaking_news community-banking performance consumer-finance

NJ 28
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End of an Era: TD Bank Retires Coin-Counting Machines

American Banker

breaking_news consumer-finance nj retail-branch-strategies national-regionalTD Bank announced Thursday that is doing away with the Penny Arcade coin-counting machines that are stationed in more than 1,000 of its branches along the East Coast.

NJ 28
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Why Bankers Are Wary of Office, Hotel Loans — and Bullish on Manufacturing

American Banker

community-banking cre tx fl nj nd national-regionalWeakness in the energy sector and a surge in new construction are pushing up vacancy rates at offices and hotels, leading to a spike in delinquencies on loans tied to them. The safer bet, bankers say, is lending on industrial properties.

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Why Banks Are Dumping Fannie, Freddie Debt

American Banker

law-regulation community-banking dealmaking-strategy interest-rates securitization doddfrank gse fed ma nj ny national-regionalBanks have rushed to the exits when it comes to Fannie Mae and Freddie Mac debt securities. Federal liquidity rules seem to be prompting big banks to do so, but why small banks are unloading the bonds, too, is more of a puzzler.

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After Three-Plus Years, Some Vindication for M&T's Hudson City Deal

American Banker

consumer-finance dealmaking-strategy performance m-a mortgage ny nj national-regionalM&T is squeezing savings out of its newly purchased Hudson City Bancorp after fighting long and hard for regulatory approval. But it's also taking steps to keep Hudson City's customers from leaving, like offering higher rates on CDs in the New Jersey area.

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CIT Names Calif. Consumer Banking President

American Banker

CIT Group in Livingston, N.J., people corporate-governance ny national-regionalhas promoted Steve Solk to president of consumer banking in California.

NJ 30
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CIT Appoints HSBC Exec as General Counsel

American Banker

CIT Group in Livingston, N.J., breaking_news people national-regionalhas named former HSBC executive Stuart Alderoty as its new general counsel.

NJ 31
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CIT Looking More Like a Bank

American Banker

CIT Group in Livingston, N.J., breaking_news dealmaking-strategy performance m-a national-regionalreported higher profits, boosted by gains from its acquisition of OneWest Bank.

NJ 28
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CIT's Top Legal, Compliance Execs Depart: Report

American Banker

Two senior legal executives at CIT Group in Livingston, N.J., breaking_news people national-regionalare reportedly leaving the company, as it faces a new round of compliance headaches.

NJ 29
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Who were ICBA’s Top Lenders of 2022?

Independent Banker

American Bank, National Association. Classic Bank, National Association. The First National Bank In Sioux Falls. Dakota Community Bank & Trust, National Association. The Miners National Bank of Eveleth. The National Iron Bank. 1st National Bank of Scotia.

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Citing Racial Profiling, IBM Will No Longer Sell Face Recognition Software

PYMNTS

We believe now is the time to begin a national dialogue on whether and how facial recognition technology should be employed by domestic law enforcement agencies.”. Cory Booker (D-N.J.), International Business Machines Corp.

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The top-performing community banks of 2021

Independent Banker

Brazos National Bank. Douglas National Bank. FSNB, National Association. Pioneer Trust Bank, National Association. AMG National Trust Bank. HNB National Bank. Leader Bank, National Association. BNC National Bank. Illustration by Eight Hour Day.