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The President’s Message


I am very proud of the exceptional financial performance that 1st Constitution Bancorp delivered for its shareholders in 2015. Simply stated, value creation for our customers and our shareholders is our highest priority. 1st Constitution Bancorp's 2015 financial highlights include record Net Income of $8.7 million, or $1.07 per diluted common share. With a Return on Average Assets (ROA) of 0.89%, and a Return on Average Common Equity (ROE) of 9.49%, we are once again among the best performing banks within our peer group in the industry.

In addition, in order to reward our loyal shareholders during the year we declared two common stock dividends. Both were 5 percent common stock dividends, which were declared on February 20, 2015, and December 18, 2015.

Because of our disciplined and prudent approach to managing the Company, 1st Constitution Bancorp delivered a total shareholder return of 24.09 percent in 2015, even though the operating environments for banks remained challenging.

Our consistent solid performance is a result of adhering closely to our business fundamentals, managing our capital prudently, encouraging innovation, engaging employees, controlling expenses, and expanding our customer relationships.

A strong financial performance and a strong commitment to ethical leadership and corporate behavior are the cornerstones of the 1st Constitution Bancorp culture and purpose. Our financial performance and commitment to integrity are rooted deeply in our core values:

  • We do the right thing
  • We power potential
  • We stay a step ahead
  • We draw strength from diversity
  • We put people first

We are proud to be bankers and to have the privilege to be trusted partners for our customers and communities we serve.

At 1st Constitution Bancorp, we stand at the intersection of people and potential every day. Potential for greatness exists everywhere, in every business, and in every person. As our customers begin to look toward the future through a more optimistic lens, they expect their 1st Constitution partners to provide sound guidance for their emerging opportunities.

1st Constitution employees serve as catalysts for our customers to reach their full potential. In 2015, thanks to the hard work and dedication of our engaged employees, 1st Constitution Bancorp delivered record net income, and maintained a firm grip on our performance measures, while continuing to grow shareholder value.

Throughout the year, 1st Constitution Bancorp stood at the intersection of people and potential by helping individuals build financially secure futures; small business owners turn dreams into neon OPEN signs; commercial enterprises convert visions into progress; merchants engage in safe and secure commerce; pre- and post-retirees achieve their retirement goals and objectives; and communities turn possibilities into promises.

At 1st Constitution Bancorp, we understand that the best way to create value for our shareholders is to provide our customers with a complete array of banking products and services that address their distinct financial objectives, in any economic environment. The diversification of 1st Constitution's business profile continues to be one of our most significant strategic advantages. We balance our revenue generation between margin and fee businesses, and we leverage our competitive strengths in our chosen market segments by providing products that are generally considered more diverse than those of our competitors within the industry.

With Consumer and Small Business Banking, Wholesale Mortgage Banking, Commercial Real Estate, Construction Lending, and Small Business lending through the Small Business Administration, we are well positioned in the markets where we compete the best, and we are confident that this mix of business has us well positioned for the future. We operate in several market segments, spanning individual, commercial and institutional customers, and have established the size to leverage our strengths and protect our advantage from the competition.

In addition to our exceptional financial performance, 1st Constitution serves as a catalyst for our communities to reach their greatest goals. We have been helping communities achieve their visions and dreams for more than 25 years.

For instance, in 2015:

  • We invested and loaned in excess of $15 million to invigorate and strengthen communities we serve.
  • We introduced educational tools and resources to enhance financial literacy, including First Time Home Buyer Workshops in low and moderate income areas.
  • Our employees volunteered in excess of 3,000 hours of their time.
  • We served on charitable and community boards and committees.

In addition, each of our branch banking offices participated in National Night Out which focuses on drug awareness and prevention within the communities we serve.  We also collected food goods for various Food Banks located in our primary service area.

We continued to operate as one of the most community-centric banks in the center of our state. Many thanks to our committed employees who provide their time, talent, and financial resources to support these most worthy activities.

At this juncture, 1st Constitution is well positioned for growth as the economic environment continues to show signs of improvement, and our customers look for a strong and stable banking partner to help them achieve their distinct financial goals and objectives. Our team of 1st Constitution employees sees enormous potential in every customer with whom we are privileged to work, and will continue to stand at the intersection of people and potential every day as we pursue our collective vision for the future.