Creative Financing for Affordable Housing: Local lenders are helping municipalities participate in affordable housing projects
New Jersey’s banks help provide urban communities with funding for units of affordable housing, retail and commercial space. In Vineland, construction costs for Melrose Court — an affordable housing complex which will consist of 17 single-family units — were financed using Low Income Housing Tax Credits (LIHTC). The hallmark of community banks such as ours is that they understand the needs of the communities they serve and can customize solutions that work for both the municipality and the bank.
Waiting On The Fed: Bankers prepare for rising rates, but wonder if the Fed will pull the trigger.
When asset-liability management consultant Jeff Reynolds talks to banker audiences these days, he often asks who carries an iPhone. Most listeners raise their Apple smartphones in response. Then Reynolds, managing director at Darling Consulting Group, springs the punch line: “The last time the Federal Reserve raised rates, the iPhone didn’t exist.” This makes an impression. The now ubiquilous devices arrived on lhe scene in late June 2007. The last lime the Fed raised rates was in June 2006. They’ve been near 0% for more than six years.
Capital Bank Ranked in Top 15th Percentile of Community Banks Nationwide; Reports First Quarter Earnings; Announces Bill Whelan is new SVP
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced at its April 30 Annual Stockholders Meeting that it had earnings of $949,000 for the three months ended March 31, 2015, an increase of $134,000 (16.5%) compared to the first quarter of 2014. It reported total assets of $360 million at March 31.
Capital Bank Reports Earnings up 36%; Declares 25% Increase to Cash Dividend
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its 2014 earnings. The bank reported a net income of $3,557,000 for the year ended December 31, 2014, a 36% increase over its 2013 earnings of $2,614,000. Capital Bank’s total assets at December 31, 2014 were $347 million, representing growth of more than 9% compared to its assets of $318 million at the end of 2013.
Federal Home Loan Bank Of New York Awards $1.7 Million In Affordable Housing Grants In Atlantic City, Mullica Hill And Vineland
The Federal Home Loan Bank of New York announced today the award of an $847,000 grant to the Atlantic City Housing Authority & Urban Redevelopment Agency to help finance the Atlantic City HOPE VI project, which will construct a 90-unit apartment complex in Atlantic City; the award of a $653,952 grant to United Cerebral Palsy to help finance the rehabilitation of a 167-unit affordable housing complex in Mullica Hill; and the award of a $263,500 grant to the Vineland Housing Development Corporation to help finance the Melrose Court project, which will construct 17 units of affordable rental housing.
Capital Bank Breaks Ground On Melrose Court
Capital Bank, in partnership with the Vineland Housing Authority, broke ground on Melrose Court on October 14, 2014. Melrose Court consists of 17 single-family affordable rental homes situated around a 6.7-acre cul-de-sac between West Almond Street and Chestnut Avenue in Vineland. The $5.8 million project is scheduled to be completed in October of 2015
Capital Bank Reports Record Profits
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced that for the six months ended June 30, 2014 its earnings were $1.65 million, up 20% over the same period in 2013 and the greatest for any six month period in its history. At June 30 Capital Bank had total assets of $359 million, also a record high for the institution.
Good News For First-Time Home Buyers Who Need Help With A Down Payment Or Closing Costs
If you are a first time homebuyer and would like to receive up to $7,500 in "free money" toward your down payment or closing costs, keep on reading, as NIa Coombs has good news for you.
Capital Bank Announces Officer Changes;
Reports Record First Quarter Earnings
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced several officer changes and record earnings at its April 29 Annual Stockholders Meeting.
The HeartBleed Vulnerability And You
Rest assured, that Capital has you protected from this latest security issue. Read more about it.
Capital's President & CEO David Hanrahan Named One Of South Jersey BIz Magazine's 2013 Executives of the Year
South Jersey Biz magazine asked its readers to nominate the local executives who are ensuring our region remains a top destination to either start up or expand, and the result is their largest list yet of Executives of the Year. They found that it’s an exciting time to sit at the helm of a business in South Jersey. Not only are there countless examples of perseverance during the recession, but there is no shortage of leaders who are putting South Jersey on the map as the state moves forward into prosperity.
Capital Bank is proud that its President & CEO, David Hanrahan is not only profiled as one of this year's honorees, but he also appears on the cover of the magazine's November issue.
Read the full article on the South Jersey Biz website
Capital's President & CEO David Hanrahan Appears on NJ Today
Capital Bank of New Jersey's President and CEO, David Hanrahan appeared on May 3, 2012 episode of NJ Today, to discuss how Capital thrives in a "down" economy.
Fee - Free Checking with Interest!
Free ATM Transactions, free checks.
Capital Bank doesn't charge you to use your ATM Visa Debit card, whether you use our ATMs or those of another financial institution. At the end of each month, Capital Bank will reimburse you those ATM fees charged to you by other financial institutions.
Contact your local branch for details.
may vary. Offer may be withdrawn at any time without previous notice.
Fees may reduce earnings.)
We've Got Star Power
Capital Bank has been awarded
a 5-star rating by Bauer Financial.