If this page doesn't display properly in your email, click here. November 18, 2020
New Jersey Bankers Association
NJBankers in the News

Demand is high: The pandemic and economic uncertainty have contributed to – booming and highly competitive – conditions in NJ’s housing market
Welcome to the current housing market in New Jersey, which is experiencing one of its most active periods in recent years, influenced by the COVID-19 pandemic, subsequent economic upheaval, and buyers’ desire for more outdoor space in the age of coronavirus. 

Industry News

Harmon lands spot on U.S. Chamber of Commerce board
John Harmon was named to the board of directors of the U.S. Chamber of Commerce. Harmon was appointed to the U.S. Chamber’s Chamber of Commerce Committee of 100, a group of the leading chamber executives from around the country. He also will serve on the steering committee of the U.S. Chamber’s Equality of Opportunity Initiative, which is dedicated to addressing racial equity gaps in critical areas including education, employment, entrepreneurship and criminal justice.

ICBA pushes back on PPP 'loan necessity' questionnaire
ICBA raised questions about an SBA "loan necessity" questionnaire for Paycheck Protection Program loans of $2 million or more that appears to go against the language of the CARES Act.

COVID Alert NJ Community Toolkit
COVID Alert NJ is New Jersey's free and secure mobile app that anonymously alerts users if they have been in close contact with someone who has tested positive for COVID-19.

ABA Launches COVID Help for Home Campaign
A broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies, and think tanks – launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act or other forms of mortgage payment relief. The campaign will also target borrowers whose forbearance plans are ending and who need to contact their servicer to extend that form of payment relief or request additional assistance. The campaign is designed to augment the successful outreach that is already underway by mortgage servicers and housing counseling agencies nationwide, supplementing existing communications efforts and virtual events for homeowners in need of assistance. We encourage our member banks to get involved and help get the word out! Click here to participate today!

ABA Calls for Extension of CARES Act Relief
ABA yesterday urged lawmakers to consider extending several banking-related CARES Act provisions that are set to expire at year-end. These include temporary relief from troubled debt restructurings, optional temporary relief from CECL implementation, a temporary lending limit waiver and temporary regulatory capital relief for community banks.

Freddie Mac Survey Examines Spike in Forbearance During COVID-19
A new study from Freddie Mac shows that mortgage forbearance has played an important role in helping mortgage borrowers remain in their homes during COVID-19.

Household Debt Rises by $87 Billion in Third Quarter
Outstanding household debt rose by 0.6% in the third quarter of 2020, rising by $87 billion to land at $14.35 trillion, the Federal Reserve Bank of New York reported yesterday. The increase more than offset the second quarter decline of 0.2% that was the first decrease since 2014 and the largest drop since 2013.

Making Financial Education Concepts Stick: Putting Learning into Practice
Fri, Nov 20, 2020 2:00 PM - 3:30 PM EST

The Federal Deposit Insurance Corporation (FDIC) along with the New Jersey Coalition for Financial Education (NJCFE) are partnering to host Making Financial Education Concepts Stick: Putting Learning into Practice. The webinar will inform educators and bankers about ways that banks and schools can work together to improve the financial skills and experiences of youth.

Discounts for Employees of Members & Associate Members

As a member of NJBankers, there are benefits that are available to your bank or company but did you know there are direct benefits – discounts –  just for you as an employee?

NJBankers has partnered with Rider University for a tuition reduction, Plymouth Rock for auto insurance discounts, the ASPCA for pet insurance, and even Office Depot for supplies & printing discounts.  You’ll be surprised at the money you and your family will save!

Take a look at the details and discounts for the NJBankers partnership programs and learn more about how you and your family will benefit. NJBankers is pleased to make the Connections that can contribute to your bottom line!

Bank Members Click Here - Associate Members Click Here

Help us Tell your Bank's Story!

Since the start of this health crisis, New Jersey banks have prioritized the safety of employees and customers. Throughout the pandemic, banks have offered an array of programs to help individual and business customers affected, including fee waivers, deferred payments and other accommodations depending on the customer's circumstances.

Banks continue to do everything they can to make things a little easier right now from helping customers get financial relief and approving a record number of business PPP loans to looking out for the well-being of their communities.


It's no secret the tremendous work bankers have been doing around the clock to serve their customers and communities and keep operations flowing successfully through the uncertainty. Our industry should be very proud of our accomplishments and NJBankers would like to help you tell your banks story. We encourage you to share your story with us to get the word out on the exceptional job banks are doing during this trying time.

Please send your banks story to: Erin Attilio at esuckiel@njbankers.com.


Other Industry Meetings
View Other Meetings

Upcoming Webinars

December 3rd
Balance Sheet Challenges and Opportunities

January 15th
10th Annual Economic Leadership Forum 

See njbankers.com for details.

Member News

Columbia Financial, Inc. Announces Financial Results for the Third Quarter Ended September 30, 2020
Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank (the "Bank"), reported net income of $15.1 million, or $0.14 per basic and diluted share, for the quarter ended September 30, 2020, as compared to net income of $14.2 million, or $0.13 per basic and diluted share, for the quarter ended September 30, 2019.

BCB Bank Marks 20-Year Anniversary
BCB Bank is celebrating its 20th Anniversary with a thank you to its more than 60,000 loyal customers. The Bank opened its doors with its first branch 20 years ago at 860 Broadway, in Bayonne, New Jersey. 

Manasquan Bank Named One of the Best Banks to Work For in 2020
For the second consecutive year, The American Banker named Manasquan Bank one of the Best Banks to Work For, joining a national list of leading financial institutions demonstrating a commitment to company culture and employee engagement. Out of approximately 5,000 Banks in the U.S., only 85 financial institutions were recognized, and Manasquan Bank was ranked the 43rd Best Bank to Work For, which was also the #1 ranked financial institution for of all New Jersey.

Manasquan Bank Names Ed Skoudis to Board of Directors
Manasquan Bank has appointed Ed Skoudis to its Board of Directors, effective October 28th 2020.

PNC strikes deal to buy US operations of Spain's BBVA
PNC Financial has agreed to buy the US operations of Spain's second-largest lender for nearly $12 billion

Spencer Savings Bank Announces Appointment of New Bank President
Spencer Savings Bank announced the promotion of Jane E. Allerman-Rey to bank president. With the unanimous support of the Bank’s Board of Directors, Ms. Allerman-Rey, who presently serves as First Executive Vice President and Chief Operating Officer, will be promoted to President, effective January 1, 2021. She assumed the responsibilities of president from Jose B. Guerrero, who remains Chairman and CEO. 


Associate Member News

DealerTrack Technologies Presents Post-Election & Mid-Pandemic: Top 10 Takeaways for Auto Lenders Webinar
Thu, Nov 19, 2020 2:00 PM - 3:00 PM EST
With the election presumably concluded but the COVID crisis still looming, Cox Automotive Chief Economist Jonathan Smoke and Vice President of Market Intelligence Isabelle Helms join data forces for this special insights presentation. Hear how the market is responding, how consumers are feeling, what predications can be made for the close of 2020, and what appears to be in store for the start of 2021. They'll sum up their findings with 10 key takeaways for lenders to validate or adjust their strategies.


Meet our Associate Members

Connections is highlighting Associate members and the services they offer to the Banking Industry in each issue


Click here to learn more about these companies services!





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