New Jersey Bank Sells $3M Loan Portfolio

Cumming, Chris
May 2013
American Banker;5/15/2013, Vol. 178 Issue 75, p14
Trade Publication
The article mentions the financial performance of Community Bank of Bergen County in Maywood, New Jersey which reported its earnings in first-quarter 2013 dropped to $19,000. The article notes the bank announced on May 13 it will take an after-tax loss on the sale of a $3.2 million portfolio of nonperforming loans. A press release from bank's chief executive officer and president Peter Michelotti is noted.


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