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Overview / Commentary
609-655-4500
2650 Route 130
Cranbury, NJ 08512

1st Constitution Bank is headquartered in Cranbury and is the 25th largest bank in the state of New Jersey. It is also the 699th largest bank in the nation. It was established in 1989 and as of March of 2014, it had grown to 172 employees at 19 locations. 1st Constitution Bank's savings rates are 25% higher than the national average, and it has a B+ health rating.

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Reviews (2)

We Have Been Dealing With This Bank For Many Years Without A Problem

We have been dealing with this bank for many years without a problem.  However we recently had a problem with an account and two employees blew us off.  First they told us we were wrong, then later on they admitted that we were correct and they would fix the problem.  They didn't take care of it.  We went to a third employee who we'd known for many years and she said she qould help and eventually she did.

I was very disappointed in not only the lack of expertise of bank "managers" but also the lack of concern over my account.  The fact that the two employees were incorrect was not as bothersome as the fact that they told me that it had been corrected when in fact it hadn't.

1St Constitution's Customer Service Is.....

We have banked with many banks over the years and found this bank to be below what is reasonably acceptable when it comes to customer service. Yes, they do make mistakes and they are not willing to fix or apologize for them. Not sure how they are "growing" with this type of customer service. I suggest you read all the fine print and ask to meet upper management before you make any sizable investment of your time and money at their bank. This bank is totally micro-managed and the branch level employees are merely there to meet and greet. Making any decisions or helping you work through a problem may land you in the "please don't bother" department. Beware!



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 1st Constitution Bank had $11.31 million in non-current loans and owned real-estate with $104.02 million in equity and loan loss allowances on hand to cover it. This gives 1st Constitution Bank a Texas Ratio of 10.87% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for 1st Constitution Bank experienced no significant changes from 11.77% as of March 31, 2013 to 10.87% as of March 31, 2014, resulting in a positive change of 7.64%.This indicates that the balance sheet and financial strength for 1st Constitution Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, 1st Constitution Bank has increased its total deposits by $127.94 million, resulting in 17.99% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth 1st Constitution Bank has shown is excellent.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. 1st Constitution Bank has $967.09 million in assets with $104.02 million in equity, resulting in a capitalization level of 10.76%, which is above average.

Institution Statistics

Overall
FDIC Certificate #27552
Year Established1989
Employees172
Primary RegulatorFDIC
Assets and Liabilities
Assets$967.09 million
Loans$527.63 million
Deposits$839.06 million
Equity Capital$96.99 million
Loan Loss Allowance$7.03 million
Unbacked Noncurrent Loans$9.17 million
Real Estate Owned$2.14 million
Historic Data - March 2013
Assets$812.72 million
Equity Capital$81.58 million
Loan Loss Allowance$6.02 million
Unbacked Noncurrent Loans$9.17 million
Real Estate Owned$8.30 million
Profit Margin - Quarterly
Net Interest Margin3.51%
Return on Assets0.33%
Return on Equity3.08%
Interest Income$8.00 million
Rates
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1st Constitution Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.65%$10k-1st Choice Super Savings

1st Constitution Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.65%$10k-1st Choice Checking
Locations

1st Constitution Bank has 14 locations. Click to view all 1st Constitution Bank locations.