According to Celestino, Warren County is an ideal base for expanding the bank's SBA and B&I lending activities and enables ISNB
to compete, on the same footing, with much larger financial institutions.
In three years of operation ISNB
has achieved many milestones, despite the decline in the number of local banking organizations.
Commenting on Adamson's decision to join ISNB
, Hal J.
In his new position, Celestino will oversee the expansion of the Bank's SBA Division and will be responsible for maintaining the Bank's SBA top area lender status, development of new SBA business, counseling SBA applicants, reviewing and preparing applicants' financial data, and the coordination of all other aspects of SBA loans for ISNB
In the past month ISNB
has sequentially announced: a 34 percent increase in third quarter earnings; the opening of a second financial services center in Phillipsburg, NJ; and, the offering of common stock, which will remain open until the end of the year.
Net proceeds to ISNB
from the Common Stock offering will be approximately $6,950,000.
posted total income of $2,602,000, as compared to $1,789,000 in the same quarter ended 2002.
will be offering a `one stop shopping' source for all auto dealers' customers, regardless of their prime, non-prime or sub-prime status.
Shaffer, President and CEO of ISNB
, said, "Julia is a highly regarded banking specialist who will be a valuable asset to our team.
The federal Small Business Administration (SBA) placed ISNB
sixth in the Philadelphia region and in the top 15 among all banks combined in New Jersey and Pennsylvania.
now maintains $11,277,000 in equity and $101,139,000 in assets, representing an 11.
Petrosky who joined ISNB
prior to its creation has been Senior Vice President and Chief Credit Officer of the Bank.