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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 49th largest bank in the state of New Jersey. It is also the 1,507th largest bank in the nation. It was established in 1911 and as of December of 2013, it had grown to 190 employees at 6 locations. First Hope Bank 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 Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
B

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Hope Bank had $6.75 million in non-current loans and owned real-estate with $40.75 million in equity and loan loss allowances on hand to cover it. This gives First Hope Bank a Texas Ratio of 16.56% 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 19.79% as of December 31, 2012 to 16.56% as of December 31, 2013, resulting in a positive change of 16.30%.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 $15.16 million, resulting in 4.11% 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 $441.52 million in assets with $40.75 million in equity, resulting in a capitalization level of 9.23%, which is average.

Institution Statistics

Overall
FDIC Certificate #6354
Year Established1911
Employees190
Primary RegulatorOCC
Assets and Liabilities
Assets$441.52 million
Loans$305.16 million
Deposits$384.38 million
Equity Capital$36.55 million
Loan Loss Allowance$4.20 million
Unbacked Noncurrent Loans$6.49 million
Real Estate Owned$265,000
Historic Data - December 2012
Assets$452.91 million
Equity Capital$37.64 million
Loan Loss Allowance$4.27 million
Unbacked Noncurrent Loans$6.49 million
Real Estate Owned$150,000
Profit Margin - Quarterly
Net Interest Margin3.44%
Return on Assets0.34%
Return on Equity4.09%
Interest Income$15.66 million
Rates

Sorry, we do not have rate data for First Hope Bank

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