Banking / Financial

First Bank Completes Acquisition of Grand Bank

First Bank announced that at the close of business on Sept. 30, it completed its merger with Grand Bank, N.A., previously headquartered in Hamilton.

The merger was approved at the special meeting of First Bank stockholders on Sept. 18. Grand Bank stockholders approved the merger during a special meeting held on Sept. 12. This successful transaction expands First Bank’s Mercer County presence through the addition of two full-service locations. As a combined financial institution, First Bank will have over $2.0 billion in assets and over $1.6 billion in deposits.

“We are pleased to welcome the customers, employees, and stockholders of Grand Bank to First Bank as we grow our banking presence in Mercer County,” said Patrick L. Ryan, president and chief executive officer. “Grand Bank has built a strong customer base by providing extraordinary customer service and we intend to continue this tradition. Peter Pantages, former chairman, president and chief executive officer of Grand Bank, will remain with First Bank on our board of directors.  With his help, we will continue to focus on relationship banking to quality consumer and commercial customers.”

“This merger assures our customers and other stakeholders will transition to a company with similar organizational values and culture,” stated Peter Pantages. “First Bank shares our values of great customer service and commitment to the community.  I am looking forward to helping First Bank continue to build its market share in New Jersey.”

First Bank is a New Jersey state-chartered bank with 18 full-service branches in Cinnaminson, Cranbury, Delanco, Denville, Ewing, Flemington, Hamilton, Lawrence, Pennington, Randolph, Somerset and Williamstown in New Jersey, and Doylestown, Trevose, Warminster and West Chester in Pennsylvania.

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