First Hope Bancorp Announces Reelection and Addition of New Directors at Annual Meeting
April 17, 2012, Hope, NJ
Hope, NJ, April 17, 2012 — As First Hope Bank continues to celebrate its centennial anniversary, First Hope Bancorp held its Annual Shareholders Meeting on Tuesday, April 17, 2012, at 10:00 a.m. in the Hope Office. Chairman Norman E. Beatty opened the meeting by citing the bank’s strength during the First Quarter 2012, as net income was $378,737 and total assets were $411,210,761. An especially bright part of Mr. Beatty’s report was the work coming out of First Hope Mortgages, Inc., a wholly owned subsidiary of First Hope Bank. The mortgage subsidiary originated 455 loans resulting in $138,288,323 in mortgage loans. “The work and dedication from First Hope Mortgages is another significant indicator of our auspicious future,” Beatty remarked.
Results of the shareholders’ voting for directors were announced. Everett A. Chamberlain, Owen D. Dykstra, and Donald D. Somma were each elected to serve a three-year term, while Daniel G. Beatty and Lewis R. Beatty were each elected to serve a one year term.
Everett A. Chamberlain has been a member of the board of directors since 1986. He received his BS degree from Delaware Valley College and a degree of Masters in Agriculture Science from Rutgers University, where he served on their faculty for 32 years prior to his recent retirement. He is also an elected official serving his third term to the Warren County Board of Chosen Freeholders. Mr. Chamberlain resides in Belvidere.
Owen D. Dykstra has been a member of the board of directors since 2003. He received a BS degree in Civil Engineering from Rutgers University. Mr. Dykstra is a New Jersey State Licensed Professional Engineer and is President of Dykstra Associates, an engineering and surveying firm. Mr. Dykstra resides in Sparta.
While newcomers to the board, Donald D. Somma, Lewis R. Beatty, and Daniel G. Beatty are no strangers to First Hope. Mr. Somma has been part of First Hope Bank since 1993 and currently holds the position of Senior Executive Vice President. Mr. Somma also serves as President of First Hope Mortgages, and is a member of its board of directors. Prior to joining First Hope Bank, Mr. Somma worked as a Commercial Lender and Team Leader covering the Morris County area for Howard Savings Bank, and he managed the Commercial Lending and Special Assets departments for Peoples Bank, NA. Mr. Somma currently serves on the Board of the American Bankers Association Community Bank Mortgage LLC. He received his BS degree in Accounting from Saint Francis College. Mr. Somma resides in Sparta.
Lewis R. Beatty, Senior Vice President and Chief Financial Officer of the bank, has been employed by First Hope Bank since 1999. He received his BA degree from St. Andrews Presbyterian College and his MBA from Wake Forest University Babcock Graduate School of Management. He is a graduate of the Stonier Graduate School of Banking. He serves as Treasurer and is a member of the First Hope Mortgages board of directors. Mr. Beatty resides in Blairstown.
Daniel G. Beatty has been with the bank since 2007 and currently serves as Senior Vice President and Chief Operations Officer. He received his BS degree from the United States Military Academy, West Point and served in the Army for six years attaining the rank of Captain. He is currently a student at the Stonier Graduate School of Banking. He is a member of the First Hope Mortgages board of directors. Mr. Beatty resides in Fredon.
“We are grateful to retain the counsel of Everett and Owen and privileged to welcome Don, Lewis, and Daniel. Don has been a vital member of the bank’s leadership for nearly 20 years and to have Lewis and Daniel as part of the fourth generation of Beatty family to join the board is truly special,” the elder Beatty concluded.
First Hope Bancorp is the parent company of First Hope Bank, established in 1911, and First Hope Mortgages, Inc, a wholly owned subsidiary of First Hope Bank, established in 2010. With full-service banking locations in Andover, Blairstown, Great Meadows, Hackettstown, Hope and Sparta and mortgage locations in Morganville, Shrewsbury, and Northfield, First Hope offers a sophisticated spectrum of products and services including a comprehensive trust and investment division. For over a century the bank has been known for its customer service, financial strength and stability. For more information visit FirstHope.com FirstHopeMortgages.com