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Overview / Commentary
57 Livingston Avenue
New Brunswick, NJ 08901

New Millennium Bank is headquartered in New Brunswick and is the 83rd largest bank in the state of New Jersey. It is also the 3,389th largest bank in the nation. It was established in 1999 and as of March of 2014, it had grown to 33 employees at 3 locations. New Millennium Bank's money market rates are 14% higher than the national average, but it has a C- health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


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 New Millennium Bank had $6.62 million in non-current loans and owned real-estate with $7.12 million in equity and loan loss allowances on hand to cover it. This gives New Millennium Bank a Texas Ratio of 93.07% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for New Millennium Bank decreased slightly from 116.05% as of March 31, 2013 to 93.07% as of March 31, 2014, resulting in a positive change of 19.80%.This indicates that the balance sheet and financial strength for New Millennium Bank has improved slightly in recent periods.

Deposit Growth


In the past year, New Millennium Bank has decreased its total deposits by -$9.94 million, resulting in -6.17% 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 New Millennium Bank has shown is below average.



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. New Millennium Bank has $172.06 million in assets with $7.12 million in equity, resulting in a capitalization level of 4.14%, which is poor.

Institution Statistics

FDIC Certificate #35151
Year Established1999
Primary RegulatorFDIC
Assets and Liabilities
Assets$172.06 million
Loans$122.19 million
Deposits$151.21 million
Equity Capital$4.08 million
Loan Loss Allowance$3.04 million
Unbacked Noncurrent Loans$5.83 million
Real Estate Owned$796,000
Historic Data - March 2013
Assets$184.80 million
Equity Capital$5.35 million
Loan Loss Allowance$4.82 million
Unbacked Noncurrent Loans$5.83 million
Real Estate Owned$247,000
Profit Margin - Quarterly
Net Interest Margin2.86%
Return on Assets-1.14%
Return on Equity-46.03%
Interest Income$1.74 million

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New Millennium Bank Savings Account Rates

0.50%$250k-IOLTA Account
0.25%--Neighborhood Savings Account
0.15%--Millennium Work Account

New Millennium Bank Money Market Rates

0.50%$250k-Money Market Account

New Millennium Bank Checking Account Rates

0.15%$100-Totally Free Checking Account
0.15%--Business Interest Checking Account

New Millennium Bank CD Rates

1.45%$500-60 Month CD
1.25%$500-48 Month CD
1.15%$500-36 Month CD
1.00%$500-24 Month CD
0.95%$500-18 Month CD
0.90%$500-12 Month CD
0.85%$500-9 Month CD
0.55%$500-6 Month CD
0.25%$500-90 Day CD

New Millennium Bank Locations
Franklin Township Branch464b Elizabeth AvenueSomerset, NJ 8873
New Millennium Bank57 Livingston AvenueNew Brunswick, NJ 8901
Somerset Branch695 Hamilton StreetSomerset, NJ 8873