American Bancorp of New Jersey, Inc. Announces Plans to Open Full Service Branch in Nutley, New Jersey.BLOOMFIELD, N.J. -- American Bancorp of New Jersey, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ABNJ ABNJ American Bancorp of New Jersey, Inc ) ("American") announced the planned opening of American Bank of New Jersey's newest full service branch located at 211 Harrison Street in Nutley, New Jersey. "A number of recent banking changes have left Nutley without a community Bank," said Fred Kowal, President & COO. "We are both excited and grateful for the opportunity to provide American Bank's financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to those residents and businesses of Nutley and the surrounding area who prefer banking with a community-focused financial institution." Mr. Kowal continued, "Our new location in Nutley had been a bank branch that was recently closed. We are now in the process of renovating that branch to better serve our customers and expect to open the doors of our newly updated Nutley branch in May of this year." American Bank's contiguous growth into Nutley expands the list of Essex county markets served by the Bank which also includes the local communities of Bloomfield, Cedar Grove and Verona, New Jersey Verona is a township in Essex County, New Jersey, United States. As of the United States 2000 Census, the township population was 13,533, making it the 181st most populous municipality in New Jersey (out of 566 statewide). . As of December 31, 2006, the Company had consolidated total assets of $524.3 million and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $112.6 million. The Bank is a federally chartered stock savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. which conducts business from its main office in Bloomfield, New Jersey and its branch offices located in the communities listed above. The foregoing material contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 concerning our financial condition, results of operations and business. We caution that such statements are subject to a number of uncertainties and actual results could differ materially, and, therefore, readers should not place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. |
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