1st Constitution Bank is headquartered in Cranbury and is the 21st largest bank in the state of New Jersey. It is also the 560th largest bank in the nation. It was established in 1989 and as of December of 2020, it had grown to 212 employees at 26 locations. 1st Constitution Bank has an A health rating.
If you like me are tired of big banks that only think about their profits and don't know or care about you, this is the place for you.
I have been banking with this bank at the Hightstown, NJ office for years and find it to be excellent. When I go there, which doesn't happen very often, they know who I am. They take their time to talk to me if I have an issue that I want to discuss and I always have a feeling that they care about giving me the best service they can. A number of times when I had a small overdraft they cancelled the fee for it. I had a very bad experience before with a big bank (I won't mention a name) before and I'm so happy that I switched.
We have banked with many banks over the years and found this bank to be below what is reasonably acceptable when it comes to customer service. Yes, they do make mistakes and they are not willing to fix or apologize for them. Not sure how they are "growing" with this type of customer service. I suggest you read all the fine print and ask to meet upper management before you make any sizable investment of your time and money at their bank. This bank is totally micro-managed and the branch level employees are merely there to meet and greet. Making any decisions or helping you work through a problem may land you in the "please don't bother" department. Beware!
We have been dealing with this bank for many years without a problem. However we recently had a problem with an account and two employees blew us off. First they told us we were wrong, then later on they admitted that we were correct and they would fix the problem. They didn't take care of it. We went to a third employee who we'd known for many years and she said she qould help and eventually she did.
I was very disappointed in not only the lack of expertise of bank "managers" but also the lack of concern over my account. The fact that the two employees were incorrect was not as bothersome as the fact that they told me that it had been corrected when in fact it hadn't.
|FDIC Certificate #||27552|
|Return on Assets - YTD||1.07%|
|Return on Equity - YTD||9.41%|
|Annual Interest Income||$69.1MM|
|Assets and Liabilities|
|Assets||Q4 2020vs Q4 2019||$1.81B$1.59B|
|Loans||Q4 2020vs Q4 2019||$1.45B$1.21B|
|Deposits||Q4 2020vs Q4 2019||$1.56B$1.28B|
|Equity Capital||Q4 2020vs Q4 2019||$205.4MM$188.3MM|
|Loan Loss Allowance||Q4 2020vs Q4 2019||$15.6MM$9.3MM|
|Unbacked Noncurrent Loans||Q4 2020vs Q4 2019||$17.6MM$6.3MM|
|Real Estate Owned||Q4 2020vs Q4 2019||$92.00K$571.00K|
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