NewBridge Bancorp operates as the holding company for NewBridge Bank that provides a range of banking products to individuals and small to medium-sized businesses, and retail clients. The company’s products include interest-bearing and noninterest-bearing demand deposit accounts, savings deposits, NOW deposits, money market deposits, tome deposits, certificates of deposits, individual retirement accounts, overdraft protection, personal and corporate trust services, safe deposit boxes, online banking, corporate cash management, brokerage, financial planning and asset management, and secured and unsecured loans. As of December 31, 2013, the company operated 25 branches and 3 loan production offices in the Piedmont Triad Region of North Carolina; nine branches and one loan production office in the Cape Fear Region; one branch in Charlotte; and one branch and one loan production office in Raleigh, North Carolina. Lending Activities The company offers a range of lending services, including construction, real estate, commercial, and consumer loans. Real Estate Loans: The company’s real estate loans are secured by office buildings, retail establishments, residential development and construction, warehouses, motels, restaurants, and other types of property. Real Estate – Mortgage: The company originates fixed and adjustable rate mortgages, as well as FHA, VA, and USDA government supported loans for resale into the secondary market. The company provides bank-held mortgage products to accommodate qualified borrowers who do not meet the standards for a conventional secondary market mortgage. Real Estate – Construction Loans: The company offers construction and development loans on commercial and residential projects. Commercial Loans: The company makes loans for commercial purposes to various types of businesses. Equipment loans are made on terms approximately five years at fixed or variable rates, with the financed equipment pledged as collateral to the company. Consumer Loans: The company makes various loans to individuals for personal and household purposes, including secured and unsecured installment and term loans originated directly by the company; unsecured revolving lines of credit; and amortizing secured lot loans. Investment Activities As of December 31, 2013, the company’s investment portfolio included U.S. treasury securities; U.S. government agency securities; agency mortgage backed securities; collateralized mortgage obligations; commercial mortgage backed securities; corporate bonds; covered bonds; state and municipal obligations; and other equity securities. Regulation The company is subject to the regulation of the Board of Governors of the Federal Reserve System. It is also subject to supervision and regulation by the North Carolina Commissioner of Banks. The company is registered under the Bank Holding Company Act of 1956. The company has registered its common stock with the Securities and Exchange Commission pursuant to Section 12(g) of the Securities Exchange Act of 1934. The bank is subject to insurance assessments imposed by the Federal Deposit Insurance Corporation (FDIC). Under current law, the insurance assessment to be paid by members of the Deposit Insurance Fund, such as the bank, is specified in a schedule issued by the FDIC. The bank is a member of Federal Home Loan Bank of Atlanta. Significant Events In September 2014, NewBridge Bancorp announced that NewBridge Bank has established three additional areas of focus within its commercial banking business complementing its recent establishment of a Middle-Market Banking group aimed at serving larger corporate clients. NewBridge Bancorp announced that NewBridge Bank has established its first banking office in Charleston, South Carolina, and plans to develop a full-service branch to open in the first quarter of 2015. History NewBridge Bancorp was founded in 1949.
newbridge bancorp (NBBC:NASDAQ GS)
1501 Highwoods Boulevard
Greensboro, NC 27410
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