Township of Washington, NJ, October 28, 2008 – Oritani Bank, a 97 year old community bank with over $1.5 billion in assets, today announced the opening of its’ newest branch office, located at 27 Kinderkamack Roadin Emerson, New Jersey. This full-service branch will offer a complete line of financial products and services to meet the needs of both consumers and small to mid-size businesses. With the addition of Emerson, Oritani Bank now has 20 branch offices in Bergen, Hudson and Passaic Counties.
“While these are certainly trying times in the banking industry, Oritani Bank remains financially strong with a nearly 20% tier 1 capital ratio and a strong and solid loan portfolio with no sub prime exposures. The new Emerson branch underscores our continued growth and our ongoing commitment to support of the communities where we do business. This new branch also offers our new and existing customers another convenient location with the superior, personal service that they have come to expect from Oritani Bank. We are excited to become a part of the growing community in Emerson and expand our presence in Bergen County,” said Kevin J. Lynch, President and CEO of Oritani Bank.
To kick off Oritani Bank’s Grand Opening, the Emerson branch will offer a special promotion on TGIF personal checking accounts and TCB business checking accounts. New checking account customers can also take advantage of a special rate on a five month certificate of deposit.
To introduce the bank to the local area residents, Oritani Bank will host a 3-hour Grand Opening Celebration this Saturday, November 1st in the parking lot of their new Emerson branch at 27 Kinderkamack Road. The event will be open to the public from 11 am to 2 pm and the festivities will include food, fun and prizes for the whole family. Oritani Bank welcomes the local community to come and enjoy complimentary music, entertainment, crafts and refreshments.
Oritani Bank will also hold a sweepstakes for 60 days, beginning the day the branch opens. The grand prize will be a 40-inch flat screen television and numerous prizes valued at over $2,000 will be awarded. In addition, the OritaniBank Charitable Foundation will be making a $10,000 donation to the Emerson Volunteer Ambulance Department. All are welcome to participate in the sweepstakes.
Oritani Bank is a publicly held Mutual Holding Company trading on the NASDAQ with the trading symbol “ORIT.” Oritani Bank has 20 branch locations throughout Bergen, Hudson and Passaic Counties, and offers a full line of deposit and loan services to both retail and commercial customers. For more information, call 888-ORITANI, or visit the Company’s website, www.oritani.com.