New Jersey Loans – Sun National Bank Center http://sunnationalbankcenter.com/ Mon, 10 Jan 2022 23:53:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sunnationalbankcenter.com/wp-content/uploads/2021/05/sun-national-bank-center-icon-150x150.png New Jersey Loans – Sun National Bank Center http://sunnationalbankcenter.com/ 32 32 Singleton-Ruiz Housing Bills Pass Senate https://sunnationalbankcenter.com/singleton-ruiz-housing-bills-pass-senate/ Mon, 10 Jan 2022 23:53:00 +0000 https://sunnationalbankcenter.com/singleton-ruiz-housing-bills-pass-senate/

Trenton – The Senate today passed two bills sponsored by Senators Troy Singleton and Teresa Ruiz. The bills would change the standards for lending to housing developers during the state of emergency and establish the “NJ Foreclosure Counseling Fund”.

“Meeting the housing needs of our state is a key part of our efforts to make New Jersey a more affordable and more equitable place to live,” said Senator Singleton (D-Burlington). “The common goal of these bills is to improve the opportunities that will help families keep their existing homes and help various developers build much-needed affordable housing in our communities. “

The second bill, S-4263, sponsored by Senator Singleton, would change the distribution standards for eligible loans to housing developers to finance the construction, improvement, reconstruction, renovation or rehabilitation of housing projects during a state of emergency.

The last invoice, S-4277, sponsored by Senators Singleton and Ruiz, would establish the “New Jersey Foreclosure Advisory Fund” in a dedicated account administered by the Department of Community Affairs. Under the bill, funds from the Foreclosure Counseling Fund would go to the HMFA to reimburse qualified counselors for foreclosure prevention services.

“Home foreclosures are extremely stressful for struggling homeowners. Intervening as early as possible can give us a greater opportunity to find a solution that works for both the homeowner and the lender. Preventive measures, such as pre-foreclosure counselors, can work with families to find a repayment route and ultimately keep them in their homes, ”said Sen. Ruiz (D-Essex). “This legislation will ensure that HMFA has the funding to continue the important work of helping New Jersey residents get through this difficult process.”

The bills were passed by the Senate by a vote of (27-12) and (39-0), respectively.

]]>
Jones Lang LaSalle Incorporated: Secured refinancing of a multi-unit portfolio in northern New Jersey https://sunnationalbankcenter.com/jones-lang-lasalle-incorporated-secured-refinancing-of-a-multi-unit-portfolio-in-northern-new-jersey/ Fri, 07 Jan 2022 16:38:12 +0000 https://sunnationalbankcenter.com/jones-lang-lasalle-incorporated-secured-refinancing-of-a-multi-unit-portfolio-in-northern-new-jersey/

MORRISTOWN, NJ, January 7, 2021 – JLL Capital Markets announced today that it has arranged financing for two mid-rise luxury buildings totaling 335 units in the community of Rahway, northern New Jersey.

JLL worked for the borrower, Sterling Properties Group, LLC and AST Development, to place two separate 10-year fixed rate loans with New York Life Real Estate Investors.

The newly built REVA Rahway totals 219 units in a mix of studio, one and two bedroom units averaging 937 square feet. Apartments feature wood-style vinyl floors, GE stainless steel appliances, built-in washers and dryers, and quartz countertops. The community offers residents a fitness center, a resident lounge, a co-working business center and an outdoor courtyard with grills.

Metro Rahway was built in 2014 and has a total of 116 units comprising of studios, one and two bedroom units averaging 1,081 square feet. Units feature nine foot ceilings, stainless steel appliances, vinyl flooring, and quartz countertops. Residents have access to a fitness center, billiard room and resident lounge.

REVA Rahway is located at 1245 Main St. and Metro Rahway is located at 1420 Campbell St., providing quick access to US Routes 1, 9, 27 and 35. In addition, residents of both communities can access Rahway Station offering a 36-minute ride. commuter ride to NYC Penn Station. The properties are within 15 minutes of over three million square feet of retail, dining, and entertainment options including Aviation Plaza, Clark Commons, Menlo Park Mall, and Woodbridge Center. Residents also benefit from being close to downtown Rahway offering museums, breweries, local markets, retailers and restaurants.

The Capital Markets team of debt advisers representing the borrower was led by Senior Managing Directors Jon Mikula and Jim Cadranell and analyst Carlos Silva.

“We have had the pleasure of representing both Sterling Properties and AST Development in the refinancing of their two exceptional properties,” said Cadranell. “New York Life has provided very attractive long-term financing to our clients.

JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment advice, debt placement, equity placement or recapitalization. The company has more than 3,700 capital markets specialists around the world with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our writing.

Source link

]]>
Essex County Commissioners urge federal authorities to write off student loan debt https://sunnationalbankcenter.com/essex-county-commissioners-urge-federal-authorities-to-write-off-student-loan-debt/ Fri, 07 Jan 2022 14:56:47 +0000 https://sunnationalbankcenter.com/essex-county-commissioners-urge-federal-authorities-to-write-off-student-loan-debt/

ESSEX COUNTY, NJ – Newark. Chicago. Boston. Philadelphia Cream. And now, Essex County. Here are some of the local governments that have joined the campaign to cancel student debt in the United States

Earlier this week, the Essex County Council of Commissioners passed a symbolic resolution calling on the federal government to “write off all student loan debts.” The resolution – introduced by Presidential Commissioner Wayne Richardson – also urges the US government to begin providing higher education as a public good.

According to county commissioners, this is a local problem as well as a national one.

“Student loan debt is a major factor pushing families deeper into poverty and further worsening the poverty rate in Essex County and across the country,” the commissioners said in a joint statement. .

Nicole Lancaster, an early childhood education teacher in Newark and a member of NJ Communities United, is among many residents who have struggled to repay their student loans.

“I struggled for years to provide for my family’s basic needs while managing student debt, and now my student debt limits my children’s educational opportunities,” Lancaster said. “Without action now, our children will either give up college altogether or be forced into mountains of unmanageable debt.”

The Council of Commissioners issued the following statement on what inspired the resolution:

“According to the Federal Reserve, in the second quarter of 2021, Americans owed a surprising $ 1.73 trillion in student loans. Debt is associated with negative mental and physical health outcomes, increased stress, depression and early mortality.Under the Higher Education Act of 1965, the President of the United States and the Secretary of Education have the authority to write off all federal student loan debts. ‘Debt cancellation and the elimination of future debt resulting from loans made to pursue higher education represent a huge economic opportunity for Essex County. to increase spending in our local community, support the upward mobility of individuals and provide an essential stimulus during the pandemic. ”

Council members continued:

“New Jersey, in particular, is one of the top five student debtor states in the country, with an average graduate acquiring $ 34,387 in loans. New Jersey also has the third highest tuition cost for full-time students in the state at $ 26,070 per year. . Additionally, student loans have disproportionately affected communities of color. The cost of public universities in New Jersey is more than half of the typical income of black and Latin American families statewide. Even after factoring in financial aid, the average price of New Jersey school attendance – four-year public schools makes up about one-third of household income for black and Latino / Latino families, compared to just 17 percent. for white families across the state.Finally, 21 percent of student loan holders in black communities, communities of color, and immigrant communities in Essex County are in default, compared to just four percent of student loan holders in the county’s white communities.These figures illustrate how the current hi New Jersey education system creates extreme financial burdens on students with the greatest financial need and deepens the racial wealth gap in the State. “

Richardson praised the board’s support for the resolution, saying he believes “the time has come” to call on the federal government to help communities that have traditionally been victims of excessive debt – including the burden of paying for college.

“Student debt is a national crisis that affects poor and working-class youth across the country, but disproportionately affects black and brown youth, who have more loans and are less likely to get good jobs. paid, ”said Richardson.

“It is up to the federal government, in one way or another, to ease this burden and give this generation of young adults a chance to experience financial security,” he added.

Send local news tips and correction requests to eric.kiefer@patch.com

Sign up for Patch newsletters. Learn more about posting announcements or events to your local Patch site.

Source link

]]>
New Jersey takes action to end food deserts https://sunnationalbankcenter.com/new-jersey-takes-action-to-end-food-deserts/ Wed, 05 Jan 2022 15:55:00 +0000 https://sunnationalbankcenter.com/new-jersey-takes-action-to-end-food-deserts/ The Garden State is providing much needed help to the hundreds of thousands of food insecure New Jerseyans. Over the next few years, up to $ 240 million in funding through the state’s Food Desert Relief Act, which is part of the Economic Recovery Act passed by Governor Phil Murphy in January 2021, will be available for designated communities. As an important step in this process, the New Jersey Economic Development Authority (NJEDA) has published a draft list of the 50 designated communities of the New Jersey food desert for public comment.

The Food Desert Relief Act calls on the NJEDA to meet the food security needs of New Jersey communities by providing up to $ 40 million per year for six years in the form of tax credits, loans, grants, and / or technical assistance to increase access to nutritious foods and develop new approaches to alleviate food deserts. The law strives to facilitate the development, construction and sustainable operations of new grocery stores within designated desert food communities. It also aims to strengthen existing community assets by equipping them with the necessary equipment and infrastructure to provide healthier food options. In addition, it helps food retailers respond to the shift to e-commerce, including the Supplemental Nutritional Assistance Program (SNAP) and the Special Supplemental Nutrition Program for Women, Infants and Children (WIC).

“We have an obligation, as heads of state and as human beings, to ensure that no inhabitant of New Jersey goes to bed hungry, regardless of socio-economic status,” said Lieutenant Governor Sheila Oliver. “By creating one of the most comprehensive food desert designations in the country, we are leading the country to take the necessary steps to eradicate food deserts and remove the barriers that prevent people in our state from accessing nutritious food.” “

According to recent data from the Community Food Bank of New Jersey, 800,000 New Jersey residents face hunger every day. Feed America noted that 192,580 New Jersey children – one in 10 – go hungry. In addition, the number of people receiving NJ SNAP benefits increased by more than 15%, from 769,331 in September 2020 to 887,467 in September 2021, according to data from the New Jersey Department of Human Services.

In March 2021, the NJEDA issued an Information Request to solicit information on the food security challenges facing New Jersey communities, including specific barriers and disparities within areas considered to be food deserts. . The overall designation includes consideration of factors such as the food retail environment, demographics, economic indicators, and health indicators.

NJEDA encourages the public to provide feedback on the Food Desert community designations by visiting https://www.njeda.com/program-specific-feedback before February 4 or by e-mail [email protected]. The agency will run listening sessions on January 12 and January 13 to solicit input from stakeholders.

“Food insecurity is an ongoing crisis, and gathering public feedback to solidify the designations of food desert communities will help connect hungry residents with fresh agricultural produce grown and produced in many of the 10,000 New Jersey farms, ”NJEDA Secretary Douglas Fisher said.

Meanwhile, government agencies recently helped move Atlantic City from being a food desert. Murphy and Village supermarket Executive Vice President Bill Sumas was among the attendees in November’s groundbreaking ceremony for a new ShopRite in South Jersey, made possible by nearly $ 19 million in public funds.

The largest retailer-owned grocery cooperative in the United States, based in Keasbey, NJ Wakefern Food Corp. comprises nearly 50 members who independently own and operate 363 supermarkets under the ShopRite, the Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage and Fairway Market banners in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, New Hampshire and Rhode Island. The company is # 23 on The PG 100, Progressive Grocery 2021 list of the best food and consumables retailers in North America.

Source link

]]>
Comptroller Mendoza claims Illinois pays its bills but needs more federal bailout to avoid big blow – Wirepoints Quickpoint https://sunnationalbankcenter.com/comptroller-mendoza-claims-illinois-pays-its-bills-but-needs-more-federal-bailout-to-avoid-big-blow-wirepoints-quickpoint/ Mon, 03 Jan 2022 12:21:08 +0000 https://sunnationalbankcenter.com/comptroller-mendoza-claims-illinois-pays-its-bills-but-needs-more-federal-bailout-to-avoid-big-blow-wirepoints-quickpoint/

By: Mark Glennon *

“Our state has made great strides in its finances, even in the face of the pandemic. We pay our bills on time. This is a frequent message from Governor JB Pritzker and Controller Susana Mendoza.

This claim is extremely difficult to reconcile with a call for more federal taxpayer bailout assistance, but Mendoza has done both in one friday letter printed in the Chicago Sun-Times.

While claiming progress on the Illinois budget crisis, she reiterated the request she made last month to the federal Treasury Department. In that request, she and financial officers in seven other states requested a waiver of any interest on loans made by the Treasury during the pandemic to consolidate trust funds used to pay unemployment insurance. Illinois owes the treasury about $ 4.5 billion on its loan and the interest charges will be substantial. Over $ 100 million will be accumulated over a year.

Thus, Mendoza is essentially asking federal taxpayers, including the Illinois, to waive the interest accrued in their favor on the loans.

Most states have either repaid what they borrowed for their unemployment funds or have never borrowed. Illinois is one of ten states with outstanding loans. The other states that have joined Mendoza’s request to the treasury are, like Illinois, strongly Democrats – New York, Colorado, Pennsylvania, Connecticut, New Jersey, Massachusetts and Minnesota. A recent research report detailed how federal pandemic rescue money, in general, has gone disproportionately to Democratic states.

As for Mendoza’s claim that Illinois is footing the bill, that is simply not true. The state has totally ignored the hole in its unemployment fund in its current budget and future budget forecasts. In reality, the state will not only have to repay the loan but will also have to restore the fund to a healthy balance, which will likely require at least an additional $ 1.5 billion, which was the balance before the pandemic. Illinois is also not paying its full bill for the 800-pound gorilla pensions. Year after year, it contributes far less to its pension funds than actuaries say is necessary to prevent the growth of unfunded liabilities.

Illinois Controller Susana Mendoza

Mendoza backed up her claim that Illinois pays its bills by claiming, as it frequently does, that Illinois has reduced its backlog of bills by about 80% since its all-time high of $ 16.7 billion in the 2015-2017 budget stalemate.

That does not make sense. Illinois borrowed $ 6 billion through a bond offering to reduce the backlog. It just kicked the box, shifting debt from one account to another. And the backlog of bills is just one of hundreds of accounts the state has, making it a meaningless clue of how the state is doing. The delinquent account can be reduced simply by ignoring other debts, as has been the case with the unemployment fund loan and pensions.

It is also extremely misleading to claim that resolving the 2015-2017 budget deadlock reduced the backlog of invoices. This impasse was resolved simultaneously thanks to the massive tax increase in 2017 – worth $ 5 billion – which the General Assembly passed by overturning the veto of then-governor Bruce Rauner. The backlog started to shrink when this new revenue started coming in at the end of 2017. Rauner and the General Assembly both mismanaged the budget deadlock, but it was the increase in taxes that helped reduce the backlog.

Finally, remember when you hear claims about Illinois’ fiscal progress, it floats on a federal bailout money bubble. The total amount of money paid to the state, its municipalities and the private sector exceeds a staggering figure $ 180 billion for Illinois only. This will not last and nothing has been done to correct the underlying structural deficit of the state.

* Mark Glennon is the founder of Wirepoints.

Previous Relevant Wirepoints Columns

  • Misleading response from Deputy Governor Andy Manar to Wirepoints – Wirepoints Original, December 6, 2021
  • Some “plans”. Illinois wants more federal bailout money for the unemployment trust fund. – wire points,
  • Illinois Budget 2022: State’s financial cliff to wait after federal largesse runs out,
  • Susana Mendoza just can’t stop with her biggest Whopper,
  • Dig or shovel? Pritzker’s great leap back, February 15, 2019 – Crain’s
  • Snake Oil, Budget Deadlock, and Illinois $ 1 Billion Delay Penalties Jan 29, 2018
Source link

]]>
McDonough Musings: Meet Georgetown’s Super Parents https://sunnationalbankcenter.com/mcdonough-musings-meet-georgetowns-super-parents/ Sat, 01 Jan 2022 15:21:00 +0000 https://sunnationalbankcenter.com/mcdonough-musings-meet-georgetowns-super-parents/

Before starting business school, several people told me that MBA programs are a snap and that you are only there to make connections. They couldn’t have been more wrong. At Georgetown University’s McDonough School of Business, students are placed in a rigorous program from day one. In my first semester alone, we had five hour zoom sessions for team quizzes and sleepless nights were common.

I also learned that there are students who deal with the stress of school while raising children. This struck me as astonishing, as it is often rare that we hear their stories of sacrifice and triumph. Here are some of those McDonough MBA stories.

Ellen Shim, Shim’s husband, and their daughter Seo-yeon

I’ll start with Ellen Shim, a second year MBA student from South Korea. She has a five year old daughter, Seo-yeon. Shim decided to postpone a year after her first term in 2019 because she felt her daughter needed more home care and childcare services were limited in the United States. She then returned to Seoul to take care of Seo-yeon there.

The pandemic has been a blessing in disguise for Shim as it enabled him to take online classes for the first year of his MBA program while taking care of his daughter. However, that also meant that she was on the other side of the earth, attending classes at 2 or 3 a.m. and team meetings at dawn.

Shim returned to the United States in May of this year and barely managed to enroll Seo-yeon in kindergarten in Virginia. Every day is a challenge as it’s just Shim and her husband looking after their daughter while taking care of school and a full time job respectively.

“It’s harder when my daughter gets sick,” Shim said. “Or if somebody gets sick, really, because in our home, if a bond breaks, the whole system does too.”

CUSTODY FAILURES, FINANCIAL CHARGES

Sergio Garcia Moreno, his wife and their daughter

Finding adequate childcare services and the financial constraints that accompany it have also been stressors for Sergio Garcia Moreno, also a second year MBA student, and Nina Vann, an MBA graduating in 2020 and currently working as consultant at EY-Parthenon.

Georgetown University offers a child care center called Hoya children but there is a long waiting list and services have been temporarily closed due to the pandemic.

“Daycare is so expensive here. We have decided not to send (our daughter) to daycare until it is completely necessary due to financial constraints, ”said Garcia, to whom Georgetown told he would have to wait about 18 months to enroll her. girl at school daycare.

“There is hardly any communication for parents. There is a site but nothing more. I think they could have more communication for us, ”Garcia suggested.

Garcia moved from Mexico to Washington DC, and his family depended mainly on his savings, a scholarship, a loan from the Mexican central bank for students abroad, and a loan from his parents. He hopes to repay the loans as quickly as possible after starting full-time work at the Boston Consulting Group next year.

Vann was in a similar situation.

“The daycare was very expensive and the logistics didn’t make sense because I had to be in school until late at night,” recalls Vann, who eventually used nannies. Vann said she received no financial assistance from the school for childcare and that 40 percent of her student loans went to the education of her two children, one of whom was in the business school.

Harish Mohan and his family

Three nannies left their posts while she was in Georgetown, which compounded her problems. “I felt the earth was ripped out from under me,” she said.

The financial burden eases slightly for those whose children attend public school, like Harish Mohan, a freshman MBA student. Mohan left India earlier this year with his two children and his wife, who looks after the children full time.

“Public schools here are free. I can’t imagine incurring another expense right now when I’m already managing my MBA costs, ”he said.

BE PREGNANT AT SCHOOL B

Having a child during business school as a mother and father is both a challenge, but even more so for mothers. In Vann’s case, the more difficult parts included working in an inflexible system not designed for mothers or pregnant women when she fell pregnant with her second child, in addition to the physiological changes.

“A lot of teams weren’t empathetic, especially my study team. If I objected to meeting times, they penalized me, ”Vann said. “Also, after having your child you question your decisions, your impostor syndrome as an MBA student is at your peak… I didn’t have a lot of people I could talk to. “

She eventually found an ally in Kerry Pace, associate dean of MBA programs at Georgetown, whose compassion for students who are parents stems in part from the fact that Pace took on her current position when she was 11 weeks pregnant and half past, Pace said.

Jaime Brown and his partner

“Navigating that balance between raising a kid and having a career has been tough, but it got me thinking about how students do it,” Pace said. She then set up a breastfeeding room inside the Rafik B. Hariri building at McDonough School of Business, to which only mothers have the key.

Jaime Brown, a part-time MBA student who will graduate next year, also got help from Pace after deciding to move to her hometown of New Jersey earlier this year because she got pregnant. . It is expected in January 2022.

Brown was frustrated with the school’s policy of having to take classes and exams in person when she felt unsafe there due to the pandemic.

“There are fewer cases of COVID at the graduate level, but our classes are still 60 to 65 people and that’s a lot of people next door,” Brown said.

Since Georgetown University chose to be fully in-person this fall, it was up to individual faculty to provide Zoom-to-Class links for synchronous online participation, and teachers and students struggled with the format. hybrid.

To get around the problem, Brown takes transfer credits to Saint Joseph’s University which are all virtual, and the professors and staff at Georgetown worked together to allow him to virtually sit a final exam for a core class.

“I hope teachers are prepared to be more flexible, or that the program allows people to take lessons virtually if they wish,” said Brown, one of the many parents interviewed for this column who asked. flexibility of the course format.

“Being able to Zoom in on a class is huge. A hybrid option would give me a lot of peace of mind, ”said Kate Bodner, mother of two young children. Bodner said she had to risk her attendance score this semester for needing to stay home with sick children or when her family chose to self-quarantine due to possible exposure to COVID.

SUPER PARTNERS, SUPPORT NETWORKS

All of the students and alumni interviewed for this story stressed that their MBA journey would not have been possible without the support of their partners and spouses.

“I’m fortunate to have a partner who supports me and bends over backwards for me,” says Bodner. “Some things seem selfish, but it allows me to do whatever I want to do. Ryan, her husband, told me that it was necessary to “plan and review said plans” to help them balance work, school and family life.

Khadijah Brydson-Van, her husband and their twins

“I will do everything in my power to rearrange my schedule if necessary,” he said of the unexpected changes.

Khadijah Brydson-Van, a freshman MBA student with two young twins, says her husband helps her attend MBA social events.

“He asks, ‘Why are you at home?’ if I get home early. He understands how important this is to me, ”said Brydson-Van. “Today I am going out with my study team.”

Matt Pershe, another sophomore MBA, recalls that his wife was instrumental in recruiting her summer internship despite having just given birth to their first child, Eleanor.

“Caitlin was so sacrificed to herself. She did full shifts, and when I didn’t have those internships, I felt really bad. We want to find a better balance going forward,” he said. said Pershe, who will also join BCG next year after an internship at Rios Partners.

Student parents have also found support in other like-minded people on and off campus. Brydson-Van has appealed to local mothers’ groups for support, while she and Bodner are fans of Georgetown Partners and Families, an MBA program club for spouses, relatives and families of students. McDonough graduates.

“Having the club is great,” says Bodner. “I’m so proud of them and what they have done for the group. It was very helpful mentally.

Adam Kuebler, club co-chairman, said the club has strived to become a place where partners can come together and find other people. The club has organized events like a virtual scavenger hunt as well as visits to the Washington DC area zoo and parks.

“People love to be a part of your kids’ and family’s lives if you invite them over. It reassures me to know that people know the names of Caitlin and Eleanor and that they ask questions about them. These people are part of our lives, ”says Pershe.

As for parents who are considering going to business school, they should have a strong support network, Vann says. “Building your support system is so important, emotionally and financially. But also don’t forget to bring your whole being to the table.

Garcia, the Mexican student, says, “Do not be discouraged by the idea of ​​going on this adventure because you have a child. The experience is going to be different but still very valuable and you can bond very well at school.

Shim agrees, saying she would like to encourage other mothers to apply to MBA programs, adding that being a parent can give you an edge.

“Through parenting, you get so many great skills. I want to tell the next generation that there are many possibilities for parents like us, ”said Shim.

Christine Kim (McDonough ’22) is a former Reuters correspondent and communications specialist in Seoul, South Korea. As a journalist, Christine has covered topics such as North Korea, global financial markets and central bank rates. She also managed global communications for Samsung Electronics before business school and plans to focus on strategy and crisis management after graduation. In this monthly column, Christine will highlight the less heard voices and diverse experiences of the Georgetown MBA program.

DO NOT MISS :

MCDONOUGH MUSINGS: INTERNATIONAL FEST – A RENEWAL IN 2021 OF VIBRANT AND GLOBAL CULTURES

MCDONOUGH MUSINGS: BACK TO A NEW NORMAL

MCDONOUGH MUSINGS: LIVING QUEER LIFE LIKE A GEORGETOWN MBA

Source link

]]>
NJ’s first bank protecting more seniors and funds Crimestoppers program https://sunnationalbankcenter.com/njs-first-bank-protecting-more-seniors-and-funds-crimestoppers-program/ Fri, 31 Dec 2021 00:56:14 +0000 https://sunnationalbankcenter.com/njs-first-bank-protecting-more-seniors-and-funds-crimestoppers-program/

Community submitted content and photo

First Bank announced its partnership with the Senior Housing Crime Prevention Foundation, which provides protection and a better quality of life for vulnerable residents of senior housing.

As part of the Senior Crimestoppers program, First Bank’s donation of approximately $ 20,000 will directly help residents of Medford Care Center in Medford, New Jersey, and Trinity House in Berwyn, Pa., Have a more living environment. safe and more secure.

“First Bank is truly proud to support the Senior Crimestoppers program in their quest to create a safe and secure housing environment for those who truly need it,” said First Bank President and CEO Patrick L. Ryan. “Fraud is more prevalent today than ever before, and it’s important that we teach people to protect themselves and others. As a community bank, we are heavily invested in the safety and well-being of our customers and members of our communities, especially those who are more vulnerable to criminal activity.

“Senior Crimestoppers is a way for an administrator to further improve the lives of the residents they serve,” said Terry Rooker, President of Senior Crimestoppers. “They all work very hard to provide safe, secure and comfortable living environments, and their desire to implement the program is just one more example. Implementing this program does not mean that the facility currently has a crime problem, but that the administrator is proactively finding a way to prevent problems from reoccurring in the future.

Crime against the elderly in our society is a long-standing and constant battle that can be reduced and avoided by running the Senior Crimestoppers program in nursing homes and assisted living facilities.

Senior Crimestoppers is a coordinated set of components that work together to create a platform of zero tolerance for crime in senior residences.

Components include cash rewards of up to $ 1,000 paid anonymously for information on wrongdoing of any kind, personal safes for residents, as well as effective and ongoing education and training for members of the staff and residents.

Senior Crimestoppers reduced all aspects of crime by 95% at participating institutions.

CRA Partners, powered by the Senior Housing Crime Prevention Foundation, is a national organization that provides federally mandated CRA credit to banks through the operation of the Senior Crimestoppers turnkey program providing safe and secure living environments for people. low to moderate income seniors in our country.

Through flexible funding options such as community development loans, investments, or ARC qualified grants, banks offer the program in senior residences, HUD communities, and veterans homes across the country. ‘Condition while gaining positive public relations exposure in their communities.

To learn more about First Bank, visit firstbanknj.com Where firstbankpa.com.

About First Bank

First bank (firstbanknj.com) is a New Jersey state chartered bank with 18 full-service New Jersey branches in Burlington, Gloucester, Hunterdon, Mercer, Middlesex, Somerset, and Morris counties, as well as Bucks and Chester counties in Pennsylvania.

With $ 2.44 billion in assets as of September 30, 2021, First Bank offers a traditional line of personal and business deposit and lending products throughout the New York City to Philadelphia corridor.

The common shares of First Bank are listed on the Nasdaq Global Market under the symbol “FRBA”. FDIC and EHL member.

About Senior Crime Stoppers

SHCPF’s mission is to provide protection and improved quality of life to vulnerable residents of senior housing through meaningful turnkey compliance from ARC for community-based banks.

Funded exclusively by the banking industry and endorsed by the ICBA and over 30 state banking associations, the Foundation has developed a low-risk, cost-effective solution – CRA Partners – for banks of all asset sizes and types. charter – in order to fulfill their community mission mandated by the federal government. The requirements of the Reinvestment Act (ARC) in the form of qualifying loans, investments or grants through the nationally acclaimed Senior Crimestoppers program.

For more information on Senior Crimestoppers, visit SeniorCrimestoppers.org or call 800-529-9096.

Source link

]]>
Baltimore’s keys to becoming the epicenter of black entrepreneurship https://sunnationalbankcenter.com/baltimores-keys-to-becoming-the-epicenter-of-black-entrepreneurship/ Wed, 29 Dec 2021 15:07:11 +0000 https://sunnationalbankcenter.com/baltimores-keys-to-becoming-the-epicenter-of-black-entrepreneurship/

Band Majella Mark

  • Maryland has one of the highest black populations in the South with over 1 million occupants
  • Baltimore-Based Tech Startup Sonavi Labs Raised Over $ 1 Million In Round Table With Local Angel Investors

Most black professionals live in major cities including New York, Los Angeles, Chicago, Washington DC, and the black mecca of Atlanta in the United States, but there are some hidden gems that really have the potential to become the epicenter. of black excellence in the near future. . One of those hidden havens is Baltimore, Maryland, and is home to over a million black people. With this city’s proximity to Washington DC and New York City, you can be placed in the perfect location to grow your business while saving on living expenses. This is exactly what the black community needs as we lead new flows of money, political declarations, and cultural influences.

Why this is important: the the city’s median age is 35, including a very large population of medical professionals due to the attractiveness of Johns Hopkins. There are plenty of black-led startups making waves at B’More, creating a foundation for what may be the quintessential land of opportunity for black dreamers.

For example, a medical technology company Sonavi Labs raised $ 1 million during their tour de table, mainly with angel investors and healthcare professionals. The tech worker cooperative, Tribe, founded by Jeremy Neal, overturns the concept of running a business with an unconventional method of collective ownership and share ownership. Cllctivly, an online directory for black-run grassroots organizations, creating an easy way to support black charitable success in Baltimore.

Knowledge of the situation: There are approximately 10-15 coworking spaces in the city of Baltimore, including Startup Nest, Open Works, and Mindhub, welcoming new businesses to their community. The average rent for a one-bedroom apartment is $ 1,395, which is half the price of an average apartment in New York or Los Angeles and $ 300 less than the average apartment in Atlanta, Georgia. As the pandemic subsides and people are still looking to relocate to new places due to the increase in remote working, Baltimore has truly made a commitment as a city welcoming both young professionals and entrepreneurs. . ??

CBx atmosphere:Take me back to BaltimoreElisabeth Cotten

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source link

]]>
ALERT TO STONECO SHAREHOLDERS BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDES INVESTORS WITH LOSSES GREATER THAN $ 100,000 of Principal Plaintiff’s Delay in Class Action Against StoneCo Ltd. https://sunnationalbankcenter.com/alert-to-stoneco-shareholders-by-former-louisiana-attorney-general-kahn-swick-foti-llc-remindes-investors-with-losses-greater-than-100000-of-principal-plaintiffs-delay-in-class-action-against/ Mon, 27 Dec 2021 17:45:00 +0000 https://sunnationalbankcenter.com/alert-to-stoneco-shareholders-by-former-louisiana-attorney-general-kahn-swick-foti-llc-remindes-investors-with-losses-greater-than-100000-of-principal-plaintiffs-delay-in-class-action-against/

NEW ORLEANS, LA / ACCESSWIRE / December 27, 2021 / Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have untilJanuary 18, 2022 to file principal plaintiff claims in a securities class action lawsuit against StoneCo Ltd. (NasdaqGS: STNE), if they purchased the Company’s securities between March 11, 2021 and November 16, 2021 inclusive (the “Recourse Period”). This action is pending in the United States District Court for the Southern District of New York.

What you can do

If you have purchased StoneCo securities and wish to discuss your legal rights and how this matter might affect you as well as your right to recover your economic loss, you can, without obligation or expense to you, contact free of charge Lewis Kahn, Managing Partner of KSF. at 1-877-515-1850 or by email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-stne/ to learn more. If you wish to act as the principal plaintiff in this class action lawsuit, you must submit a petition to the court by January 18, 2022.

About the trial

StoneCo and some of its officers are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.

On August 30, 2021, after the market closed, the company disclosed that it had “implemented prudent measures, such as temporarily halting credit disbursement and increasing coverage of potential future losses, which had an impact on [StoneCo’s] published the results for the quarter. “Then, on November 16, 2021, the Company announced that it” would start testing our [credit] product, which are short-term loans, between the fourth quarter of ’21 and the first quarter of ’22 “, but did not provide specific guidance as to when credit volumes would return to levels before StoneCo does not stop credit origination.

At this news, StoneCo shares fell $ 10.96, or 34%, to close at $ 20.70 per share on November 17, 2021.

The case is Ray v. StoneCo Ltd., et al., 21-cv-9620.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or embezzlement committed by listed companies. KSF has offices in New York, California, Louisiana, and New Jersey.

To learn more about KSF, you can visit www.ksfcounsel.com.

Contact:

LogoDescription automatically generated

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100, rue Poydras, suite 3200
New Orleans, LA 70163

THE SOURCE: Kahn Swick & Foti, LLC

See the source version on accesswire.com:
https://www.accesswire.com/679741/STONECO-SHAREHOLDER-ALERT-BY-FORMER-LOUISIANA-ATTORNEY-GENERAL-KAHN-SWICK-FOTI-LLC-REMINDS-INVESTORS-WITH-LOSSES-IN-EXCESS-OF- 100000-of-Lead-Plaintiff-Deadline-in-Class-Action-Lawsuit-Against-StoneCo-Ltd – STNE

Source link

]]>
Zacks Investment Research Lowers Princeton Bank (NASDAQ: BPRN) to Hold https://sunnationalbankcenter.com/zacks-investment-research-lowers-princeton-bank-nasdaq-bprn-to-hold/ Fri, 24 Dec 2021 22:42:30 +0000 https://sunnationalbankcenter.com/zacks-investment-research-lowers-princeton-bank-nasdaq-bprn-to-hold/

Princeton Bank (NASDAQ: BPRN) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a report published on Friday, Zacks.com reports.

According to Zacks, “The Bank of Princeton is a community bank that provides banking products and services. The company offers checking accounts, savings accounts, lawyer trust accounts, money market accounts and certificates of deposit; and commercial, commercial and industrial real estate, construction, residential first mortgage loans, home equity and consumer loans, and lines of credit. It operates mainly in New Jersey, Hamilton, Pennington, Montgomery, Monroe Township, Lambertville, New Brunswick, Lawrenceville. in Princeton, New Jersey. “

Actions of BPRN traded up $ 0.22 at midday on Friday, reaching $ 29.18. 4,708 shares of the company were traded in the hands, compared to its average volume of 19,528. Bank of Princeton has a one-year low at $ 21.26 and a one-year high at $ 31.31 . The company has a market cap of $ 197.26 million, a P / E ratio of 9.79 and a beta of 0.65. The company’s 50-day mobile average price is $ 30.00, and its 200-day mobile average price is $ 29.81.

Bank of Princeton (NASDAQ: BPRN) last released its results on Friday, October 22. The company reported earnings per share (EPS) of $ 0.88 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.78 of $ 0.10. The company posted revenue of $ 17.43 million for the quarter, compared to analysts’ expectations of $ 15.97 million. Equity research analysts predict that Bank of Princeton will post 3.21 EPS for the current year.

(A d)

It could be the highest grossing event in crypto history. And that only happens once. If you miss it, there is no second chance.

A number of hedge funds have recently changed their holdings to BPRN. Millennium Management LLC purchased a new stake in Bank of Princeton in the second quarter for a value of $ 2,565,000. Systematic Financial Management LP increased its stake in Bank of Princeton by 24.5% in the second quarter. Systematic Financial Management LP now owns 313,993 shares of the company valued at $ 9,002,000 after purchasing an additional 61,727 shares during the period. Fourthstone LLC purchased a new stake in Bank of Princeton in the second quarter valued at $ 878,000. Renaissance Technologies LLC increased its stake in Bank of Princeton by 44.6% in the second quarter. Renaissance Technologies LLC now owns 82,723 shares of the company valued at $ 2,372,000 after purchasing an additional 25,500 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Bank of Princeton in the second quarter valued at $ 688,000. 33.62% of the shares are currently held by institutional investors.

Princeton Bank Company Profile

The Bank of Princeton provides personal, business and deposit loan services. It offers traditional retail banking solutions, residential mortgages for one to four families, multi-family and commercial mortgages, construction loans, commercial loans and consumer loans, including home equity loans and lines of credit.

See also: Does the Discount Rate Affect the Economy?

Get a Free Copy of Zacks’ Bank of Princeton (BPRN) Research Report

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Bank of Princeton right now?

Before you consider Bank of Princeton, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly asking their clients to buy now before the broader market takes hold of… and Bank of Princeton was not on the list.

While Bank of Princeton currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here

Source link

]]>