NEW YORK–(BUSINESS WIRE)–Apple Bank announced today that it is expanding its branch network with a new branch slated to open in Englewood, NJ, early in the fourth quarter of 2022. The branch will be located at 33 Nathaniel Place in the Palisades Court Shopping Center across the street from Shoprite. Apple Bank recently received approval from the FDIC, the New York State Department of Financial Services and the New Jersey Department of Banking and Insurance to expand its retail banking branch network into Englewood.
Founded in Harlem in 1863 and expanding over the years across the five boroughs of New York City, Long Island, Westchester and Rockland counties, Apple Bank has built long-term relationships by providing affordable, reliable banking products and exceptional personal service in the neighborhoods it serves. Adding locations in New Jersey is a natural extension of the Bank’s branch footprint and allows it to better serve New Jersey residents who work in New York and bank with Apple Bank.
Closely linked by more than just roads, railways and rivers, New York and New Jersey residents have many shared values and needs. Apple Bank is looking to form a deeper connection with those who live in New Jersey and work in New York by providing them with local banking opportunities. Being present where it can best serve its clients is a philosophy that has served Apple Bank well when expanding its branch network. Adding locations in New Jersey will also allow the Bank to form new connections with longtime residents of the Garden State. Apple Bank currently offers its online “Simple Savings” account to residents of New Jersey, and is excited about offering a full suite of products and personalized service in the state.
Steven C. Bush, Chairman, President and CEO, stated, “With many of our customers living just across the Hudson River, our new branch in Englewood will bring local banking to where our customers live. We are pleased that the regulators have granted us approval to proceed with our plans.”
James Matera, EVP/Chief Retail Banking Officer at Apple Bank, added “We are excited to open this branch, allowing New Jersey customers to bank where they live – including digitally, over the phone or in person at our new Englewood location. We are confident our customers, both current and future, will find this an added convenience. ”
About Apple Bank:
With a full suite of banking, lending and investment products for both individuals and businesses, Apple Bank helps tailor banking solutions based on individual needs. We live and work alongside our customers in the communities we serve and that helps us understand the local financial needs of our neighbors. In 2021, Apple Bank marked its’ 30th consecutive year of uninterrupted profitability. Prudent financial and risk management has enabled the Bank to remain solidly profitable, with strong credit quality and low levels of non-performing loans, despite the challenges arising from the pandemic. Our balance sheet is composed of high-quality loans and securities, and our capital ratios are in excess of all regulatory requirements. As the second-largest state-chartered savings bank in New York, Apple Bank has $16.1 billion in assets as of December 31, 2021, and $14.0 billion in deposits. Learn more at applebank.com
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