Colonial Bank, FSB

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Colonial Bank, FSB
227 Bridgeton Pike
Mantua, NJ
Phone: (856) 468-6008

Colonial Bank, FSB started out in 1913 as Young Men's Building & Loan. Our first office was located at 103 E Commerce Street in downtown Bridgeton. At this time, the main purpose of our business was granting home mortgages.

Thirty years later, in 1943, we moved from 103 E Commerce Street to 107 E Commerce Street. During that same year we obtained deposit insurance on savings accounts and changed our name to The Young Men's Savings and Loan Association.

Over the years, our business continued to grow and in 1961, we moved our Main Office to its current location at 85 W Broad Street, Bridgeton.

During the next three decades, there were several changes in government regulations. These changes permitted us to acquire The Cohanzick Building & Loan and the Equitable Building & Loan. The changes also allowed us to begin offering more products and services to our customers.

By 1987, we had grown to four locations. That same year we made our first venture into Gloucester County by purchasing the Mantua Building & Loan. We constructed our fifth office in Sewell to serve these customers. A second Gloucester County office was later opened in Mantua Township to further serve our customers.

The biggest and most publicized change for the Young Men's Savings & Loan Association came in November of 1994. Our Board of Directors decided that, because of the changing times, the name Young Men's no longer fit in today's business world. At the same time it was decided that we would change our charter from a state regulated Savings & Loan Association to a Federal Savings Bank charter; and our name was changed to Colonial Bank, FSB.

Colonial Bankshares, Inc. was organized in January 2003 to serve as the mid-tier stock holding company of Colonial Bank, FSB. Colonial Bankshares, Inc. is a federally chartered corporation and owns 100% of the outstanding common stock of Colonial Bank, FSB.

On March 25, 2005, the Company filed a Registration Statement Form SB-2 with the Securities and Exchange Commission in connection with the Company’s offer and sale of shares of its common stock in a public offering. The Registration Statement was declared effective by the Securities and Exchange Commission on May 16, 2005. The offering was completed on June 30, 2005. In the offering, the Company sold 2,079,980 shares of its common stock at a price of $10.00 per share, and issued an additional 2,441,176 shares of its common stock to Colonial Bankshares, MCH, the Company’s federally chartered mutual holding company.

For further discussions of the stock offering, see the Company’s Prospectus as filed on June 1, 2005 with the Securities and Exchange Commission pursuant to Rule 424(b)(3) of the Rules and Regulations of the Securities Act of 1933 (File Number 333-123583).

In 2007, Colonial Bank, FSB moved its corporate headquarters to Vineland, New Jersey (the second Vineland location). This expansion allowed us to streamline our back offices and improve the efficiencies of the deposit and loan operations department to better service our customers. In addition to the main office in Vineland, New Jersey, Colonial Bank, FSB maintains branches in Bridgeton, Mantua, Millville, Upper Deerfield, Vineland (three offices), Sewell and Cedarville, New Jersey. Colonial Bank will be opening three more branches in the near future; Millville, Cumberland County (second location); Mullica Hill, Gloucester County and Buena Township, Atlantic County.

The Bank’s principal business consists of attracting consumer deposits and investing these deposits primarily in investments and single-family residential, commercials and consumer loans. Today, Colonial Bank, FSB is a nine location, full-service community bank. We offer a full line of products and services to help meet your financial needs.

Loans

Whether you want to buy or remodel a home, pay for college expenses, finance a car, take a dream vacation or refinance existing loans, Colonial Bank, FSB has a loan for you. Our competitive rates and terms can help you achieve your financial goals.

Personal - Unsecured

We offer personal unsecured loans to qualified depositors.

Personal - Secured

Need to pay a bill, but don't want to take the money out of your account? No problem, use your cash as collateral for a low rate secured personal loan. The collateralized funds are held in either a Certificate of Deposit or a Passbook Savings account and we can lend you up to 90% of the accounts value (normal underwriting criteria apply).

Automobile Loans

Whether it is for the sports car of your dreams or a practical family vehicle, an auto loan from Colonial Bank, FSB can help you get behind the wheel. We offer a variety of loan programs for new and used (up to eight years old) automobiles with competitive rates and repayment terms.

Recreational Vehicle Loans

Thinking of getting that new boat, motorcycle or RV? We can help you indulge yourself. We offer financing programs for new and used (up to 5 years old) recreational (titled) vehicles.

Easy Credit Line

Our Easy Credit account is a personal unsecured line of credit that is linked to your existing Colonial Bank, FSB checking account. The line can be used for overdraft protection, or for anything you wish. Lines may be granted in amounts up to $20,000.00 and carry a variable interest rate.

Home Equity Loans

Sound money management includes sensible borrowing. With competitive rates and interest that may be tax deductible (please consult your tax advisor), our Home Equity loans can be a smart choice for almost any financing need. Our program offers you the choice of either a fixed rate or balloon loan with various payment schedules.

Home Equity Line of Credit

A Colonial Bank, FSB home equity line of credit offers all the benefit of a traditional home equity loan with the added advantage of being a revolving credit line; which means that you can re-borrow from your available credit at any time, for any reason.

With a line of credit, you only pay interest on the money that you use. The interest is charged at prime rate and is variable.

Mortgage Loans

Thinking about buying your first home or a new home? Maybe you are thinking of building your dream home. Perhaps you just want to save some money by refinancing. Whatever the case, with our knowledgeable mortgage staff and competitive rates and programs, Colonial Bank, FSB can help you reach your goals. Apply Now!

We offer fixed and balloon payment mortgages with terms ranging from 10 years to 30 years at competitive rates. Our construction - permanent loan program offers a single fixed rate and one closing for both phases of this loan. We also offer special programs for First Time Home Buyers, including some in conjunction with the housing agencies in the cities of Bridgeton and Millville. We have been helping people finance homes since 1913, and we can help you.