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Overview / Commentary
2120 West County Line Road
Jackson, NJ 08527

Harmony Bank is headquartered in Jackson and is the 79th largest bank in the state of New Jersey. It is also the 2,964th largest bank in the nation. It was established in 2008 and as of December of 2013, it had grown to 37 employees at 3 locations. Harmony Bank has a A health rating.

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Data for Q4 2013

Institution Health


Texas Ratio


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 Harmony Bank had $392,000 in non-current loans and owned real-estate with $20.3 million in equity and loan loss allowances on hand to cover it. This gives Harmony Bank a Texas Ratio of 1.93% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Harmony Bank decreased slightly from 2.51% as of December 31, 2012 to 1.93% as of December 31, 2013, resulting in a positive change of 23.12%.This indicates that the balance sheet and financial strength for Harmony Bank has improved slightly in recent periods.

Deposit Growth


In the past year, Harmony Bank has increased its total deposits by $50.01 million, resulting in 38.64% 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 Harmony 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. Harmony Bank has $207.64 million in assets with $20.3 million in equity, resulting in a capitalization level of 9.78%, which is above average.

Institution Statistics

FDIC Certificate #58713
Year Established2008
Primary RegulatorFDIC
Assets and Liabilities
Assets$207.64 million
Loans$153.39 million
Deposits$179.45 million
Equity Capital$18.31 million
Loan Loss Allowance$1.99 million
Unbacked Noncurrent Loans$392,000
Real Estate Owned$0
Historic Data - December 2012
Assets$147.19 million
Equity Capital$17.09 million
Loan Loss Allowance$1.55 million
Unbacked Noncurrent Loans$392,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.72%
Return on Assets0.75%
Return on Equity7.64%
Interest Income$7.48 million

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Harmony Bank Locations
Tom River Branch104 Route 37 EastToms River, NJ 8753
Harmony Bank2120 West County Line RoadJackson, NJ 8527
Lakewood Branch500 River AvenueLakewood, NJ 8701