Noble Community Bank News!
Highlands State Bank and
Noble Community Bank
Announce a Merger of Equals
Highlands State Bank and Noble Community Bank jointly announced that their Boards of Directors had approved a merger of equals transaction, pursuant to which the two institutions will merge to produce a stronger, more competitive community bank servicing the Sussex County, New Jersey market. Shareholders of Noble Community Bank will receive 0.7953 shares of Highlands State Bank common stock for each share of common stock of Noble Community Bank. The exchange ratio was based on the respective per share book value of each institution.
Mr. George E. Irwin, President and Chief Executive Officer of Highlands State Bank, stated: “This transaction represents an opportunity to join two community-based financial institutions with similar business philosophies in a way that strengthens both. Joining with Noble Community Bank enhances our position in the Sussex market, and helps position the combined franchise for growth.”
Mr. Jeff Parrott, Chairman of the
Board of Noble Community Bank, added: “By joining our two organizations, we can
accelerate our growth and achieve our milestones faster than either of us could
independently. This transaction will produce value for our shareholders and
better convenience for our customers.”
The bank resulting from the
proposed transaction will continue to be known as Highlands State Bank, and
will be based in Vernon, New Jersey. The Board of Directors of the resulting
bank will consist of sixteen members, ten from the existing Board of Highlands
State Bank and six from the existing Board of Noble Community Bank. Mr. George
Irwin, the President and CEO of Highlands, will remain the President and CEO of
the resulting bank. As of June 30, the combined institution would have had
total assets of $104,323,000, total loans of $71,124,000 and total deposits of
$83,582,000 and offices located in Sparta and Vernon, New Jersey. The transaction is subject to various
conditions, and is expected to close, subject to regulatory and shareholder approvals,
in the fourth quarter of 2008.
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Noble Community Bank, headquartered in Sparta, recently donated a community events sign erected at the township’s new Theater Center on Woodport Road. The sign will be used to inform Sparta residents and visitors of the variety of community activities taking place in town. Brian Fitzpatrick, left, retired CEO of Noble Community Bank and Ronald Dolfi, center, the Bank’s President, join Sparta Township Mayor Michael J. Spekhardt, Sr. to commemorate the placement of the new community events sign at the Sparta Theater Center located on Woodport Road
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Noble Community Bank Hosts Russian Bankers
How does the Russian banking system differ from the American banking system? A delegation of Russian bankers got to find out when they visited Sussex County for two weeks recently and met with officers of Noble Community Bank in Sparta. The group, sponsored by the Newton Rotary Club through the Center for Citizen Initiatives (Productivity Enhancement Program), was able to learn firsthand how their financial industry programs and policies differed from ours. “The Russians were very eager to compare notes”, said Brian Fitzpatrick, president and chief executive officer of Noble Community Bank. “Although I’m sure the finer points were lost in translation, they were very grateful for the opportunity. Their visit gave us the chance to showcase what we do best and that’s to provide diverse financial products and services at the community level.”
The Productivity Enhancement Program (PEP), the Center for Citizen Initiative’s flagship program, provides intensive U.S.-based management training for Russian entrepreneurs. PEP, unique among American-sponsored business programs, ensures that non-English speaking Russian entrepreneurs receive exposure to Western business practices and, in addition, allows Americans to present their successful businesses. “It was certainly a hands-across-the-water experience for all of us at Noble Community Bank”, stated Fitzpatrick.
Photo Caption: Brian Fitzpatrick (fifth from the right), retired chief executive officer of Noble Community Bank, joins Neill Schreyer, the Bank’s senior vice president and chief lending officer (fourth from the left) and Pam Carthew (fifth from the left), the Bank’s senior executive assistant, in hosting a delegation of visiting Russian bankers.
Noble Community Bank Initiates FREE
Business Messenger Service
Realizing that businesses sometimes
find it difficult to make routine trips to the bank, Noble Community Bank is
now offering a simple solution: free daily messenger service. “We know how
hectic a business can get on any day of the week,” said Ron Dolfi, the
Bank’s Senior Vice President of retail banking. “Now our business customers
will be able to make their daily check deposits without losing precious time
away from their office or store.”
Commercial checking account customers will be able to schedule daily deposit
pick-ups at their places of business or arrange for the service on an
as-needed basis. The Bank will provide each customer with a secure deposit
bag in which to insert their check deposits. The bags will be opened and
processed at the Bank’s office on Sparta Avenue. Transaction receipts will
be dropped off the next day to businesses that arrange for daily pick-ups.
Customers using the service as needed will have transaction receipts
returned to them by mail. The free service, using the Bank’s van driven by a
bank employee, will be available Monday through Friday during regular
business hours.
“We don’t want our business customers to be concerned about getting their day’s deposits to the bank,” stated Brian Fitzpatrick, Noble Community Bank’s President and Chief Executive Officer. “Taking advantage of our new door-to-door free business messenger service will allow them to concentrate on doing business instead of doing banking.”
Business checking account customers wanting to arrange for the messenger service can contact the bank by calling 973-726-8294. “It’s easy and hassle free,” said Dolfi.
Noble Community Bank Names Chief Loan Officer
Sparta, NJ May 7, 2007— Brian Fitzpatrick, president and chief executive
officer of Noble Community Bank, has announced the appointment of Neill A.
Schreyer as Senior Vice President and Chief Loan Officer. Schreyer will
oversee all consumer and commercial lending functions of the bank, which
operates at 351 Sparta Avenue, Sparta, New Jersey. 
Noble Community
Bank remains positioned to become the preferred source for business and
consumer loans in the Sparta and surrounding areas and Neill will be
instrumental in expanding our portfolio”, Fitzpatrick stated. “His
background in commercial and real estate underwriting, credit administration
and credit risk management will help us become the leader in providing
innovative financial solutions for a variety of credit needs.
Neill Schreyer comes to Noble
Community Bank from The Bank of New York where he was a vice president for
corporate trust and a regional asset recovery division manager. He has been
in the banking industry since 1979 and has served in a number of management
capacities during his career. He holds an MBA from Fairleigh Dickinson
University and received his BA in Business Administration from Rutgers
University. Neill is very familiar with the Sussex County market from his
days as vice president of National Community Bank prior to its acquisition
by Bank of New York. He and his wife Deborah and two children, Tim and
Ashley, have been residing in Wantage since 1994.
Ronald Dolfi joins Noble Community Bank!
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Sparta, NJ February 7, 2007— Brian Fitzpatrick, President and Chief Executive Officer of Noble Community Bank, has announced that Ronald Dolfi has joined the bank as Senior Vice President, Retail Banking. Mr. Dolfi will be responsible for the branch operations, marketing and business development of the bank, which operates at 351 Sparta Avenue, Sparta, New Jersey.
“Ron will be a valuable addition to the senior management team”, Mr. Fitzpatrick stated. “He brings a wealth of experience that will help us to grow the bank and ensure that we continue to provide the products and services that a true community bank can offer to the people and businesses of Sparta and the surrounding area.” |
Prior to joining Noble Community Bank, Mr. Dolfi was Vice President and Regional Manager for Lakeland Bank and Senior Vice President/Regional Manager for Newton Trust Company, which was acquired by Lakeland in 2004. He had previously served as Vice President/District Service Manager for The Bank of New York after beginning his banking career in 1973 with the former National Community Bank, where he served in various management positions. Mr. Dolfi is a graduate of the Consumer Bankers Association Graduate School of Retail Bank Management at the University of Virginia. He currently serves on the Community Advisory Board of St. Clare’s Hospital, Sussex and is a board member of the Sussex County Economic Development Partnership. He and his wife, Pamela, reside in Wantage, New Jersey.
About Noble Community Bank
Located in Sparta, NJ, Noble Community Bank is a state
chartered, locally owned commercial bank.
As a community bank, it is committed to providing a broad range of
innovative products and services
to both residents and businesses in the
Sparta area.
It offers its customers a new banking experience that
is both meaningful and respectful of them
and
their needs and serves as a valid alternative
to larger, impersonal banks.