Amboy Bank
TypePrivate company
IndustryBanking
Founded1888 (1888)
Headquarters
Old Bridge, New Jersey
,
U.S.
Area served
New Jersey (some products available nationwide)
ProductsDeposits, mortgages, home equity loans, commercial loans
Total assets$2.32 billion (Q4 2018)[1]
ParentAmboy Bancorp
SubsidiariesAmboy Direct
Websitewww.amboybank.com

Amboy Bank is an American bank headquartered in Old Bridge, New Jersey. Amboy Bank has locations in Middlesex and Monmouth Counties in central New Jersey, and serves consumer and commercial customers.[2] Its deposits are insured to the legal maximum by the Federal Deposit Insurance Corporation (FDIC).[3]

History

Amboy Bank was chartered on May 12, 1888 as The First National Bank of South Amboy by a group of prominent local businessmen.[4] In the late 1950s the bank began to open branches in the area, and in 1960 the name was changed to First National Bank of South Amboy-Madison Township to reflect the move of its headquarters to nearby Madison Township (later renamed Old Bridge Township[5]). In 1963 the name was changed to Amboy-Madison National Bank, and was shortened to Amboy National Bank in 1991.[1] The bank is now known as Amboy Bank, a name change that occurred in 2008 after the bank converted to a state charter.[6]

Amboy Bank has been privately owned since its inception, and has been held by Amboy Bancorporation since 1984.[7]

In the mid-1980s, Amboy Bank became one of the first lenders in the United States to offer a biweekly mortgage.[8] Amboy Direct was established in 1995 to provide products to those outside of Amboy Bank’s traditional footprint.[9] In 2003 it transitioned to offering accounts that could be opened online.

Amboy Bank has been voted by readers of the Home News Tribune as the Best Bank in Middlesex County for 20 years in a row.[10]

Community involvement

In 1998, the Amboy Foundation was established to provide grants to community organizations that support education, civic, health, and social services.[11]

Locations

Excluding its corporate headquarters, Amboy Bank operates 13 locations in Middlesex County and 10 in Monmouth County.[12]

References

  1. 1 2 "FDIC: BankFind Search Details". research.fdic.gov. Retrieved 26 September 2018.
  2. ↑ "Amboy Bank - Amboy Overview". www.amboybank.com. Retrieved 26 September 2018.
  3. ↑ "Amboy Bank FDIC overview". www.fdic.gov. Retrieved 2 January 2019.
  4. ↑ "Amboy Bank marks milestone anniversary – GMNews Archive". www1.gmnews.com. Retrieved 26 September 2018.
  5. ↑ "History - Old Bridge, NJ". oldbridge.com. Retrieved 2020-03-09.
  6. ↑ "Bank List". www.nj.gov. Retrieved 26 September 2018.
  7. ↑ "InstitutionHistory". www.ffiec.gov. Retrieved 26 September 2018.
  8. ↑ Sloane, Leonard. "CONSUMER'S WORLD; Biweekly Mortgages: A Way to Build Equity". The New York Times. Retrieved 26 September 2018.
  9. ↑ "About Amboy Direct". www.amboydirect.com. Retrieved 26 September 2018.
  10. ↑ "Amboy Bank raises minimum wage for its employees to $15". Retrieved 26 September 2018.
  11. ↑ "Amboy Foundation Inc - GuideStar Profile". www.guidestar.org. Retrieved 26 September 2018.
  12. ↑ "Amboy Bank - Locations". www.amboybank.com. Retrieved 26 September 2018.
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