First Hope Bank is headquartered in Hope and is the 50th largest bank in the state of New Jersey. It is also the 1,525th largest bank in the nation. It was established in 1911 and as of March of 2014, it had grown to 145 employees at 6 locations. First Hope Bank's savings rates are 44% higher than the national average, and it has a B+ health rating.
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!
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!
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.
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 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.
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 First Hope Bank had $6.72 million in non-current loans and owned real-estate with $41.81 million in equity and loan loss allowances on hand to cover it. This gives First Hope Bank a Texas Ratio of 16.06% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Hope Bank decreased slightly from 19.17% as of March 31, 2013 to 16.06% as of March 31, 2014, resulting in a positive change of 16.22%.This indicates that the balance sheet and financial strength for First Hope Bank has improved slightly in recent periods.
In the past year, First Hope Bank has increased its total deposits by $15.17 million, resulting in 4.08% 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.
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 $442.99 million in assets with $41.81 million in equity, resulting in a capitalization level of 9.44%, which is average.
|FDIC Certificate #||6354|
|Assets and Liabilities|
|Equity Capital||$37.59 million|
|Loan Loss Allowance||$4.23 million|
|Unbacked Noncurrent Loans||$6.45 million|
|Real Estate Owned||$265,000|
|Historic Data - March 2013|
|Equity Capital||$37.79 million|
|Loan Loss Allowance||$4.20 million|
|Unbacked Noncurrent Loans||$6.45 million|
|Real Estate Owned||$150,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.36%|
|Return on Assets||0.34%|
|Return on Equity||4%|
|Interest Income||$3.81 million|
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.
|0.75%||-||$10k||Kasasa Saver - Qualifying|
|0.25%||-||-||Hopes & Dreams Club|
|0.10%||-||-||Roth IRA Savings|
|0.05%||-||-||Personal Statement Savings|
|0.05%||-||-||Business Statement Savings|
|0.02%||-||-||Kasasa Saver - Non Qualifying|
|0.10%||$2,500||-||Gold Money Market|
|0.10%||$2,500||-||Gold Business Money Market|
|1.50%||-||$10k||Kasasa Cash - Qualifying|
|0.05%||$10k||-||Select Plus Account|
|0.02%||$2,500||$10k||Business Interest Checking|
|0.02%||-||-||Kasasa Cash - Non Qualifying|
|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|
|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|
|First Hope Bank Locations|
|First Hope Bank, A National Banking Association||1301 Hope-Bridgeville Rd.||Hope, NJ 7844|
|Andover Branch||161 Newton Sparta Road||Newton, NJ 7860|
|Sparta Branch||220 Woodport Road, Aka Route 181||Sparta, NJ 7871|
|Hackettstown/Wash Township Branch||41 Rt 46||Hackettstown, NJ 7840|
|Great Meadows Branch||Route 46||Great Meadows, NJ 7838|
|Blairstown Branch||Route 94||Blairstown, NJ 7825|