Two River Bancorp Receives Regulatory Approval for New Branch in Freehold, New Jersey
Two River Bancorp (Nasdaq: TRCB), (the "Company"), the parent company of Two River Community Bank ("Two River"), today announced that it has received approval from the Federal Deposit Insurance Corporation ("FDIC") for its application to operate a full-service branch office located at 31 East Main Street, Freehold, New Jersey.
Two River anticipates that the new full-service branch will commence operations in the first quarter of 2015, becoming the Company's sixteenth branch location. The new branch will offer commercial lending, residential mortgages, and comprehensive personal and business banking services.
William D. Moss, President and CEO, stated, "We are pleased to enhance our presence in Freehold and further expand our leading brand within Monmouth County. We initially opened a loan production office in the region, and received sufficient demand that we felt it appropriate to expand into a full service location. The branch is located at a highly trafficked downtown region near Monmouth County's main government buildings, with readily available parking, and the region has provided a stable and steady base of loan production over the previous year. We look forward to strengthening and developing new relationships with customers in the area."
Mr. Moss continued, "The opening of the Freehold branch is another step in Two River's strategy to properly grow our brand in our core county locations through steady expansion of our branch network. In addition, we are also constantly evaluating all of our locations to ensure that we are properly positioned in our core marketplace. In the coming quarters, we will look to enter other adjacent markets where we can leverage our growing brand recognition, relationship banking and local expertise."
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