The Bank of Princeton

In November of 2005, The Bank of Princeton was just an idea, an idea shared at a meeting between Stephen Distler and Ross Wishnick. Mr. Distler came to this meeting following a successful career in New York at the investment banking firm of Warburg Pincus. Mr. Wishnick came to this same meeting following a career in real estate development and as a founding director of nearby First Washington State Bank which was founded in 1989. Since that time, the initial incorporators (the initial investors) were identified and they provided the seed capital that became the basis for the creation of the bank. Subsequently and methodically the management team was identified and hired. The investor group has grown from the initial 20 incorporators to 629 shareholders. The original $30 million of capital raised far exceeded the $6 million minimum threshold required by the New Jersey Department of Banking. This fundraising success is strong testimony to the considerable support the bank has in the local community. In 2010, MoreBank, a Korean based bank in Pennsylvania, was acquired by The Bank of Princeton. Combined with the three branches under the MoreBank division, we now have thirteen branches total in two states. Today, The Bank of Princeton team has grown from its beginnings with a team of 12 to over 125 employees led by Chairman Richard Gillespie. The Bank of Princeton is a growing, profitable community bank that was founded in Princeton, New Jersey in 2007. It is a New Jersey state-chartered commercial bank with ten branches in New Jersey, including three in Princeton and others in Hamilton, Pennington, Montgomery, Monroe Township, Lambertville, New Brunswick, Lawrenceville and three branches operating under the MoreBank name in the Philadelphia area. The Bank of Princeton is a member of the FDIC, an Equal Opportunity Employer, and an Equal Opportunity Lender.