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Overview / Commentary
908-459-4121
1301 Hope-Bridgeville Rd.
Hope, NJ 07844

First Hope Bank is headquartered in Hope and is the 50th largest bank in the state of New Jersey. It is also the 1,464th largest bank in the nation. It was established in 1911 and as of June of 2014, it had grown to 147 employees at 6 locations. First Hope Bank's savings rates are 44% higher than the national average, and it has a B+ health rating.

Reviews (5)

Just Another Bank, Without The Size

Have to agree with the other reviewer.  They are NOT interested in happy customers.  They are interested in selling additional services for additional monthly fees.  As for myself, I will moving my accounts (4 of them) to a "vitual bank".  They seem to still offer a good value.  If I'm not going to get any service, after having  multiple deposit accounts for years, there is absolutely no reason to reward First Hope with my continued support!

Hidden Fees And An Attitude Problem

I have been a customer for more than 15 years. Today I went to the bank and questioned a fee on my savings account. Apparently if you do not have account activity for a year, you are charged a $7 monthly fee. As a soon to be senior citizen, it is my goal to not withdraw money from my account. Apparently I went for more than a year without withdrawing any money. Not easy to do in this economy. You would think the bank would congratulate me on my thrifty ways. No, they charged me an inactivity fee. I asked them to refund the fee. They said they would rather lose me as a customer. I took my money out of the bank. If you are a thrifty consumer, I suggest you move to another bank too. I was able to get almost double the interest at another bank and they gave me a GPS for opening an account with more than $100,000. I wish I had switched sooner!

Poor Customer Service

Bank policies and procedures are far more important than customers service and customer loyalty at First Hope Bank. If you're thinking of banking here, go somewhere else.

Worst Experience Ever

I don't think they deserve one star. Absolutely UNPROFESSIONAL, INCOMPETENT, LAZY, UNORGANIZED. If you are looking for a mortgage RUN as far away as possible. Documents changed at the last minute, additional funds requested the day before closing and they are very COLD and INSENSITIVE.

Purchasers and Sellers, RUN!

Poor Policies

Poor customer service. If you overdraw your account they freeze your debit card even if your account is in the positive. This freeze is in effect for three months of no overdrawn account. No exceptions. You can not get to your money unless you write a check or go in and do a withdrawal. Run somewhere else. Do not use this bank.



Health

Data for Q2 2014

Institution Health

B+

Texas Ratio

GRADE:
B+

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 June 30, 2014 First Hope Bank had $6.29 million in non-current loans and owned real-estate with $42.39 million in equity and loan loss allowances on hand to cover it. This gives First Hope Bank a Texas Ratio of 14.84% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for First Hope Bank decreased slightly from 17.48% as of June 30, 2013 to 14.84% as of June 30, 2014, resulting in a positive change of 15.10%.This indicates that the balance sheet and financial strength for First Hope Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, First Hope Bank has increased its total deposits by $28.54 million, resulting in 7.61% 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 First Hope Bank has shown is excellent.

Capitalization

GRADE:
C+

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. First Hope Bank has $461.14 million in assets with $42.39 million in equity, resulting in a capitalization level of 9.19%, which is average.

Institution Statistics

Overall
FDIC Certificate #6354
Year Established1911
Employees147
Primary RegulatorOCC
Assets and Liabilities
Assets$461.15 million
Loans$292.34 million
Deposits$403.38 million
Equity Capital$38.37 million
Loan Loss Allowance$4.02 million
Unbacked Noncurrent Loans$6.03 million
Real Estate Owned$265,000
Historic Data - June 2013
Assets$436.77 million
Equity Capital$36.42 million
Loan Loss Allowance$4.33 million
Unbacked Noncurrent Loans$6.03 million
Real Estate Owned$75,000
Profit Margin - Quarterly
Return on Assets0.3%
Return on Equity3.57%
Interest Income$7.61 million
Rates

Always verify rates and promotions with the bank or credit union. We are not First Hope Bank, we are a rate comparison website and can not provide official rates or promotions.

First Hope Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%-$10kKasasa Saver - Qualifying
0.25%--Holiday Club
0.25%--Hopes & Dreams Club
0.20%--Kids Savings
0.10%--IRA Savings
0.10%--Roth IRA Savings
0.05%--Personal Statement Savings
0.05%--Business Statement Savings
0.02%--Kasasa Saver - Non Qualifying

First Hope Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$2,500-Gold Money Market
0.10%$2,500-Gold Business Money Market

First Hope Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.50%-$10kKasasa Cash - Qualifying
0.05%$10k-NOW Checking
0.05%$10k-Select Plus Account
0.02%$2,500$10kBusiness Interest Checking
0.02%--Kasasa Cash - Non Qualifying

First Hope Bank CD Rates

DetailsAPYMINMAXPRODUCT
0.95%$500-60 Month CD
0.95%$2,500-60 Month Risk Free CD
0.60%$500-48 Month CD
0.60%$2,500-48 Month Risk Free CD
0.43%$500-36 Month CD
0.43%$2,500-36 Month Risk Free CD
0.35%$500-30 Month CD
0.33%$500-24 Month CD
0.31%$500-18 Month CD
0.25%$500-7 Month CD
0.22%$500-12 Month CD
0.20%$500-6 Month CD
0.10%$500-3 Month CD

First Hope Bank IRA Rates

DetailsAPYMINMAXPRODUCT
0.95%$500-60 Month IRA
0.95%$2,500-60 Month Risk Free IRA
0.60%$500-48 Month IRA
0.60%$2,500-48 Month Risk Free IRA
0.43%$500-36 Month IRA
0.43%$2,500-36 Month Risk Free IRA
0.35%$500-30 Month IRA
0.33%$500-24 Month IRA
0.31%$500-18 Month IRA
0.25%$500-7 Month IRA
0.22%$500-12 Month IRA
0.20%$500-6 Month IRA
0.10%$500-3 Month IRA
Locations


First Hope Bank Locations
First Hope Bank, A National Banking Association1301 Hope-Bridgeville Rd.Hope, NJ 7844
Andover Branch161 Newton Sparta RoadNewton, NJ 7860
Sparta Branch220 Woodport Road, Aka Route 181Sparta, NJ 7871
Hackettstown/Wash Township Branch41 Rt 46Hackettstown, NJ 7840
Great Meadows BranchRoute 46Great Meadows, NJ 7838
Blairstown BranchRoute 94Blairstown, NJ 7825