Colonial American Bank Receives New Jersey Charter Conversion Approval; Closes Horsham, PA Branch

SHREWSBURY, N.J. - April 11, 2013 - PRLog -- Shrewsbury, NJ - Colonial American Bank (“the Bank”) is pleased to announce that the New Jersey Department of Banking and Insurance has approved the conversion of the Bank from a Pennsylvania state chartered commercial bank to a New Jersey state chartered commercial bank.  The conversion was effective as of the close of business on Thursday, March 28, 2013, and the Bank reopened on March 29, 2013 as a New Jersey state chartered commercial bank.  In conjunction with the charter conversion, the Bank closed its Horsham, Pennsylvania branch on March 28, 2013.  The Bank’s main office is now located at 1405 Route 35 North, Middletown, NJ 07748.

"We are very pleased and excited to have been approved for the bank charter conversion by the New Jersey Department of Banking and Insurance,” said Anthony Giordano, III, President & CEO.  “We look forward to growing our customer base in New Jersey by providing outstanding loan and deposit products and the highest level of personalized customer service.  We would like to thank all of our loyal Horsham, Pennsylvania customers for allowing us to serve them these past seven years,” said Giordano.  

For more information about Colonial American Bank, please visit www.colonialamericanbank.com.

About Us          

Colonial American Bank has a branch office in Middletown, New Jersey and is pleased to be opening a second branch office in Shrewsbury, New Jersey in April 2013.  In June 2012, bankinggrades.com awarded Colonial American Bank an “A” or “Excellent” rating for lending to small businesses. Colonial American Bank is an Equal Housing Lender. For more information, visit www.colonialamericanbank.com.