Two River Bancorp Announces Expansion of Residential Mortgage Operations

On Oct 15, 2014

Two River Bancorp, the parent company of Two River Community Bank (“Two River”), today announced the expansion of its residential mortgage lending operations with the hiring of a mortgage banking team with experience in the New Jersey markets of Monmouth, Ocean, Union, and Middlesex counties. The team is led by Mr. Scott Keller, Senior Vice President, who previously started and led a profitable division at a recently acquired community bank. Two River’s residential mortgage operations will be cost-effectively staffed, including loan originators and processors.

The Company expects to report an increase in loan generations from its new residential mortgage operations in the current fourth quarter of 2014.

William D. Moss, President and CEO, stated, “We are very excited to welcome Scott and an experienced team of loan generating professionals as part of Two River’s effort to expand our residential lending in our target markets. In recent years, we have seen an opportunity to leverage the Company’s expertise in commercial loan lending and local brand recognition as a platform into a developing a more profitable residential business. Our goal is to build a business based on sustainable, profitable, scalable and compliant growth. We feel there is a substantial opportunity for a strong, local regional bank such as Two River to gain market share through offering customers a more streamlined loan process with competitive pricing and client support. Scott and his team bring expertise to delivering a streamlined and efficient mortgage lending platform while providing Two River with the potential for building non-interest revenue and new customer relationships.”

The Company’s new residential mortgage operations will be led by Mr. Keller, an experienced banker with over 17 years in the mortgage banking industry, which includes developing and executing a business strategy to build and grow the Company’s mortgage banking operations. Mr. Keller’s previous experience includes the position of Vice President at Rumson Fair Haven Bank & Trust prior the Company’s merger, where he successfully built and oversaw a staff of licensed mortgage originators and operational employees in 20 months.

Mr. Keller stated, “I am pleased to join Two River, which is a brand that is respected in our community for both their professional and responsive service, along with ease of process. The counties we are targeting are counties in New Jersey where a strong local presence can make a real difference. Our team has an expansive network of local contacts, and feel that we can use the platform that Two River has built over the past decade to gain market share.”

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