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Banking & Finance News Archive Page 1

Mountain Development, investment fund acquire One Harmon Plaza in Secaucus

Mountain Development, investment fund acquire One Harmon Plaza in Secaucus

Prudential Financial ranks in LATINA Style top 50 companies

Prudential Financial ranks in LATINA Style top 50 companies

Cassidy Turley to list Woodmont's I-78 Logistics Center in Clinton

Cassidy Turley to list Woodmont's I-78 Logistics Center in Clinton

Banking & Finance News

Women are gaining greater market share and momentum in startup space

It was 2001, and the stock market had just crashed. But Saki Dodelson had an idea — one she knew she could turn into a $150 million company. Read More »»

Parsippany-based Solix feels acquisitions key to future growth

Solix Inc. has spent 13 years building itself as the go-to source on “eligibility determination” for government agencies and some businesses. Read More »»

Study: Gender, generational differences found in the way people save, invest money

A Wells Fargo study of the 401(k) plans it manages shows an outcome that proves there is some truth to the matter that men and women, as well as different generations, save and invest their money differently. Read More »»

Lakewood UEZ Microloan Program now accepting applications up to $35,000

The Lakewood Urban Enterprise Zone Microloan Program, once capped at $25,000, is now accepting applications for loans up to $35,000 this year. Read More »»

ConnectOne Bancorp Inc. making push into Newark

Bergen County-based ConnectOne Bancorp Inc. is expanding into Newark, starting with a temporary branch in the city's Ironbound section as it prepares to open its first permanent location by next year, the company said Wednesday. Read More »»

NorthMarq Capital appoints new vice president to New Jersey regional office

The New Jersey office of NorthMarq Capital announced Monday that real estate veteran Cristina Kloss has been appointed its new vice president. Read More »»

Phibro Animal Health announces launch of IPO

Teaneck-based Phibro Animal Health Corporation announced Monday the pricing of its initial public offering of 11.765 million shares of common stock at a price to the public of $16.00 to $18.00 per share. Read More »»

Bank of America Merrill Lynch names new East Region executive

Bank of America Merrill Lynch announced Monday it has named Steve Kenny as the East Region executive for Commercial Real Estate Banking. Read More »»

NAI Hanson brokers sale of office building in Little Falls

Hackensack-based commercial real estate firm NAI James E. Hanson announced Thursday the sale of 96 Pompton Turnpike, a 4,500-square-foot office building in Little Falls. Read More »»

Meridian Capital Group negotiates $4.65M in financing for multifamily properties in East Orange

Commercial real estate firm Meridian Capital Group LLC announced Thursday it negotiated $4.65 million in financing for two multifamily properties in East Orange. Read More »»

G.S. Wilcox & Co. closes $19.95M in financing

Morristown-based mortgage banking firm G.S. Wilcox & Co. announced Thursday that it has arranged financing totaling $19.95 million arranged by David Fryer, principal of G.S. Wilcox. Read More »»

Advaxis announced pricing of public offering of common stock

Princeton-based Advaxis Inc. announced Wednesday the pricing of a public offering of 4.08 million shares of common stock at $3.00 per share. Read More »»

Movado Group reports financial results for Q4, full year

Paramus-based Movado Group Inc. announced Wednesday financial results for its fourth quarter and full year 2013 that ended on Jan. 31, 2014. Read More »»

BCB Bancorp announces cash dividend to stock shareholders

Bayonne-based BCB Bancorp Inc. announced Tuesday that its board of directors has approved a cash dividend of $150 for each share of its noncumulative perpetual preferred stock to be paid to preferred stock shareholders on record as of April 2, 2014. Read More »»

Mark Scott arranges $14.27M loan for Carriage Club in Mt. Arlington

Livingston-based real estate financing company Mark Scott’s Commercial Mortgage Capital announced Tuesday that it has arranged a $14.72 million loan assumption for an 80,355-square-foot adult community in Mount Arlington. Read More »»

Wilshire Bancorp Inc. increases quarterly cash dividend

Los Angeles-based Wilshire Bancorp Inc., the parent company of Wilshire Bank with branches in New Jersey, announced Monday that its board of directors has declared a quarterly cash dividend of 5 cents per common share. Read More »»

The Goldstein Group brokers Noodles & Co. deal at Monmouth Mall

Retail real estate firm The Goldstein Group announced Monday it has placed the restaurant Noodles & Company in Eatontown. Financial terms were not disclosed. Read More »»

New federal regulations on disability law will impact banking hires

New federal regulations go into effect this week

Scott Chesney created the Raise Hope Foundation to train people with disabilities for careers in the financial services industry.For most of the nonprofit's existence, he went to work hoping to get a deluge of phone calls.His phone is about to start ringing off the hook.Effective March 24, new federal regulations will require all federal contractors to maintain a workforce in which 7 percent of employees are people with disabilities. The Department of Labor considers all financial institutions with federal share and deposit insurance to be federal contractors.So that means banks and credit unions now have a federal mandate to hire more people with disabilities."It's the right thing to hire people with disabilities, and it's the right thing to hire our returning veterans," Chesney said. "The mandate is going to force people to really examine it and make it happen — rather than something we should do, something we must do."Chesney knows firsthand how hard it can be to manage a disability and hold down a full-time job. He has spent the past 28 years in a wheelchair after suffering a sudden and paralyzing spinal stroke at the age of 15.In cases such as his, a disability can come on suddenly and completely disrupt someone's life, forcing the person to leave the workforce to adjust to a new reality. For others, it has been there all along and requires constant management and maintenance.Finding an employer who understands all that is challenging, he said.That has played out across the country, leading to rampant joblessness among that segment of the population, said Kathy Krepcio, executive director of the John J. Heldrich Center for Workforce Development."Since the passage of the Americans with Disabilities Act over 20 years ago, the employment rate of people with disabilities has not budged that much," Krepcio said. "Their unemployment rate … has remained about double that of the regular civilian population."Since the federal government has at their disposal the massive pool of federal contractors, it makes sense to start there, she added."Why not use the bully pulpit of the president and the federal government and the amount of people that they hire to make a difference in that number?" she said.So far, that strategy appears to be working.Chesney's Raise Hope Foundation is already working with multiple banks in New Jersey, including Investors, PNC, Enterprise Bank, Boiling Springs Savings Bank and Magyar Bank, to name a few.He has also partnered with the Center for Financial Training, an organization with an office in Upper Montclair that has long provided continuing education for people in the banking industry.Together, they created the Financial Services Academy, a 14-week course geared at training people with disabilities for entry-level careers in banking — bank tellers, customer service representatives, sales people.Karen McMullen, senior vice president and regional director at CFT, said the idea for the academy came about roughly a year ago, long before she knew anything about the federal mandate."It was a good idea to do this anyway because you're trying to help people who are out of work," McMullen said.The academy builds a foundation of basic industry knowledge for people who have never worked in financial services and those who may need a bit of a refresher, she said.There are courses in bank teller 101, principles of financial services, customer service, sales, leadership, writing and time management, McMullen said."It's almost like going to college and taking that orientation course," she said. "This is a really wonderful program that gives you a little bit about a lot of things."The academy's first class of 13 students graduated in December. The second class launched on Feb. 24.E-mail to: maryj@njbiz.comOn Twitter: @mjohns422 Read More »»

Amber Road announces public offering

East Rutherford-based Amber Road Inc., a global trade management company, announced Thursday it has priced its public offering of 7.39 million shares of common stock at $13.00 per share. Read More »»

N.J. company wins $45,000 investment for health care mobile app

A New Jersey-based company entered its mobile application into the HighTide for HealthcareIT competition sponsored by the Tallwave venture firm, and won. Read More »»

Poll Question of the Week:

The federal government released a massive amount of data regarding Medicaid reimbursement. Was this a good idea?

Breaking Glass

A farewell, as I go break a little glass of my own

This is my last post for Breaking Glass. Not because I don't love this blog...

Industry Insights

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SFW: Suitable for Work

With million-dollar paydays, Rutgers is making sure its medical school has a sporting chance

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State Street

Chamber president, Lt. Gov. candidate debate minimum wage hike in radio interview

He's pushing hard to defeat a ballot measure that would raise the state's...

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