By Patrick Breslin
NJM Bank Marks 10th Year
WEST TRENTON, NJ (September 14, 2009) – NJM Bank, a wholly owned subsidiary of New Jersey Manufacturers Insurance Company, celebrates its 10th anniversary on September 14, 2009. NJM Bank was formed in 1999 to enhance and expand the value of Stewardship, Integrity and Service that has been the hallmark of the parent Insurance Company for 96 years.
NJM Bank offers consumer and business checking and savings accounts, Certificates of Deposit, Home Mortgages, Home Equity Loans and Lines of Credit, Auto Loans and Commercial Real Estate Loans. As of August 31, 2009, total Bank assets were $610,272,889. The Bank has $487,398,279 in total deposits, with 23,528 deposit accounts and 3,885 loan accounts.
The last 10 years have presented many challenges for the banking industry as a whole. NJM Bank not only has weathered the storm, but has thrived through its customer-first philosophy, experiencing solid growth in assets and new account holders for both loan and deposit products.
“NJM Bank’s mission is simple – to provide NJM employees, NJM policyholders and the general public with a Bank they can trust,” said Lee Bellarmino, President, NJM Bank, and Vice President, NJM Insurance Group. “We are pleased to have become a fixture in the Garden State’s banking community and look forward to many more years of service.”
In addition to the main office inside NJM Insurance Group headquarters in West Trenton, NJM Bank also maintains a branch in Parsippany, across from NJM’s North Jersey office. A South Jersey branch of NJM Bank will open in late 2010, with the opening of NJM’s permanent Hammonton office.
New Jersey Manufacturers Insurance Company is the Garden State’s largest provider of Personal Auto and Workers’ Compensation insurance, with nearly $1.5 billion in direct premiums written in 2008. NJM shares the benefits of its prudent operations in the form of dividends to policyholders. Since 1918, more than $4.7 billion has been returned to policyholders, including $179 million returned on 2008 policies alone.
See www.NJMBank.com
