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City National Bank of New Jersey

900 Broad Street
Newark, NJ 07102
U.S.

Contact: Raul L. Oseguera, Vice President
Phone: 973-624-0865
Fax: 973-624-5754
URL: www.citybank.com
Email: CustomerService@citynatbank.com
City National Bank of New Jersey

City National Bank of New Jersey (CNB) is the only African-American owned and operated commercial bank in the states of New Jersey and New York. CNB’s primary mission is to provide its immediate community with loans, mortgages and other banking services, which may be unavailable to them through larger institutions. CNB places a particular emphasis on commercial lending, church lending and small business loans. 2003 FDIC fiscal accounting reports CNB’s net assets to be $235,858,000.

Program

As a commercial bank, CNB offers the following competitive products:


Client Population

CNB serves minority populations in the New York City Metropolitan area extending into Bergen, Passaic and Essex counties in New Jersey and Kings, Queens, New York and Nassau Counties in New York. Using Census 2000 information, the total population of these counties is approximately 9.3 million people. In these counties, approximately 80% of total businesses are small businesses (businesses with revenue less than $1 million). Of the small businesses, about 5% are in low-income areas and 15% are in moderate-income areas. The distribution of family income is: 15% low-income, 20% moderate-income, 45% middle-income and 20% upper income.

Impact

Since inception, CNB has been actively involved and committed to the community. It has developed a very close relationship with the church community, as well as provided support of local programs benefiting young people, senior citizens and the economically disadvantaged.

CNB total assets exceed $235 million. The loan portfolio is comprised of approximately $75 million commercial loans, $25 million in mortgage related products and $2 million in installment loans. CNB was ranked by Black Enterprise as the country’s ninth largest African-American owned and operated financial institution.


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