Question 1

What is First National Bank of Absecon?

Accepted Answer

First National Bank of Absecon is an independent community bank serving Atlantic County, New Jersey and surrounding areas. With approximately $194 million in assets and four branch locations, the bank provides full-service commercial and retail banking with a strong emphasis on personal relationships and community focus.

The institution operates with a family-oriented philosophy, combining traditional neighborhood banking values with modern technology offerings. The bank maintains its independence while serving as the only financial institution headquartered with all branches exclusively within Atlantic County.

Question 2

When was First National Bank of Absecon founded?

Accepted Answer

First National Bank of Absecon was founded on March 20, 1916. The bank received its national charter from the Office of the Comptroller of the Currency on November 15, 1915, officially opening for business in the spring of 1916.

Since its inception, the bank has successfully navigated twelve documented economic recessions and the Great Depression, demonstrating resilience and sound management throughout its history. This experience of over a century has shaped the institution's conservative approach and commitment to community banking principles.

The bank moved to its present main office location at 106 New Jersey Avenue in Absecon in 1950.

Question 3

Where is First National Bank of Absecon headquartered?

Accepted Answer

First National Bank of Absecon is headquartered in Absecon, New Jersey, located in Atlantic County. The main office is at 106 New Jersey Avenue in the center of Absecon's small business district.

Absecon is situated approximately six miles west of Atlantic City within the Atlantic City-Hammonton metropolitan statistical area. The headquarters location provides convenient access via public transportation, including light rail and bus service operated by New Jersey Transit.

Question 4

Where does First National Bank of Absecon operate?

Accepted Answer

First National Bank of Absecon operates exclusively within Atlantic County, New Jersey, making it unique as the only bank with its headquarters and all branches located within the county. The bank maintains four locations:
• Main Office: Absecon (106 New Jersey Avenue)
• White Horse Pike Branch: Absecon (opened 1970)
• Northfield Branch: Northfield (opened 1971)
• Jimmie Leeds Road Branch: Galloway Township (opened 1974)

The bank's primary market area is Atlantic County, with secondary markets extending into portions of Burlington, Cape May, Cumberland, Gloucester, and Ocean Counties.

Question 5

What services does First National Bank of Absecon offer?

Accepted Answer

First National Bank of Absecon offers comprehensive banking services for both individuals and businesses:

Personal Banking: Checking and savings accounts, money market accounts, certificates of deposit, IRAs, individual retirement accounts, and consumer lending products.

Mortgage Services: Residential mortgages including participation in the New Jersey First Time Homebuyer Program, which offers lower down payment requirements for qualifying applicants. The bank has strong specialization in 1-4 family residential loans, which comprise approximately 50% of its loan portfolio.

Commercial Banking: Business checking and savings, commercial real estate lending, and small business loans. The bank shows particular strength in small business lending, with a significantly higher percentage compared to other New Jersey banks.

Digital Services: 24-hour telephone banking, online banking, eStatements, electronic bill pay with features including unlimited transactions and payment history viewing, imaged checks, and mobile banking applications.

Additional Services: ATM and debit card services, cashier's checks, wire transfers, safe deposit boxes, night depository, and merchant services.

Question 6

What makes First National Bank of Absecon unique?

Accepted Answer

First National Bank of Absecon distinguishes itself through genuine personal relationships, greeting customers by name and maintaining the family-oriented atmosphere that has defined the bank since 1916. This "bank that treats you like family" approach creates a stress-free banking experience uncommon among larger institutions.

Independence and local focus set the bank apart. As Atlantic County's only bank with headquarters and all branches within the county, management decisions are made locally with deep understanding of community needs. The bank holds approximately 3.81% of Atlantic County deposits while competing against much larger regional and national institutions.

Conservative stability through more than a century of service demonstrates exceptional risk management. The institution's survival through twelve recessions and the Great Depression reflects prudent lending practices and commitment to core banking fundamentals.

Community reinvestment shows strong commitment to local development. The bank actively participates in programs supporting low- and moderate-income families and small businesses, maintaining consistent engagement with Atlantic County's economic development initiatives.

Question 7

What type of financial institution is First National Bank of Absecon?

Accepted Answer

First National Bank of Absecon is a National Bank chartered by the Office of the Comptroller of the Currency (OCC). National banks receive their charter from the federal government and are regulated by the OCC, a bureau of the U.S. Department of the Treasury.

As a national bank, the institution carries "National" in its official name and operates under charter number 10823. The bank provides full commercial banking services including both retail and business banking functions.

The institution specifically positions itself as an independent community bank, emphasizing local ownership, local direction, and local decision-making while maintaining the regulatory framework and consumer protections associated with national bank status. This combination provides the benefits of federal oversight and FDIC insurance while preserving the personalized service and community focus of a locally-controlled institution.

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