Last $14.31 USD
Change Today -0.08 / -0.56%
Volume 82.0K
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As of 8:10 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

370 Pascack Road

Township of Washington, NJ 07676

United States

Phone: 201-664-5400


Oritani Financial Corp. operates as the holding company for Oritani Bank that provides various banking products and services. Market Area From the company’s headquarters in the township of Washington, New Jersey, it operates 25 full service branches, including its corporate office. The company operates branches in four counties of New Jersey, such as Bergen, Hudson, Essex, and Passaic. The majority of its branches (17) and deposits are located in Bergen County. In addition, the company operates five branches in Hudson County, one branch in Essex County, and two branches in Passaic County. Its residential lending area includes northern New Jersey. The company’s market area for commercial lending, including multifamily lending comprises the state of New Jersey, Eastern Pennsylvania, Southern New York, New York City, and parts of Connecticut, Delaware, and Maryland. Lending Activities The company’s principal lending activity is the origination of multifamily loans and commercial real estate loans, as well as residential real estate mortgage loans and construction loans secured by property located primarily in its market area. The company’s multifamily loans consist primarily of mortgage loans secured by apartment buildings. Its commercial real estate loans consist primarily of mortgage loans secured by commercial offices, retail space, warehouses, and mixed-use buildings. The company’s residential real estate mortgage loans consist of one to four family residential real property and consumer loans. Construction loans consist primarily of one to four family, and to a lesser extent, commercial development projects. Residential Loans: The company originates one to four family residential mortgage loans, all of which are secured by properties located in its primary market area. The company also offers adjustable rate mortgage loans for one to four family properties. Its adjustable rate mortgage loans amortize over terms of approximately 30 years. Multifamily and Commercial Real Estate Loans: The company originates non-residential commercial real estate mortgage loans and loans on multifamily dwellings. Its commercial real estate mortgage loans are primarily permanent loans secured by improved property, such as retail stores, mixed-use properties, self-storage facilities, mobile home parks, commercial warehouses, and office buildings. The retail store caption includes groceries and drug stores. Its multifamily mortgage loans are primarily permanent loans secured by apartment buildings. The company also offers such loans on a self-amortizing basis with fixed rate terms up to 20 years. Second Mortgage and Equity Loans: The company also offers second mortgage and equity loans, and home equity lines of credit, each of which are secured by one to four family residences, all of which are located in its primary market area. Construction Loans: The company originates construction loans for the development of one to four family residential properties located in its primary market area. Residential construction loans are offered to experienced local developers operating in the company’s primary market area and to individuals for the construction of their personal residences. The company also makes construction loans for commercial development projects. The projects include multifamily, apartment, retail, and office buildings. Other Loans: Other loans primarily consist of business loans secured by cash and other business assets, account loans, and commercial line of credit loans. Investment Securities As of June 30, 2014, the company’s investment securities included United States government and federal agency obligations; equity securities; and mortgage-backed securities, including Freddie Mac, Fannie Mae, and collateralized mortgage obligations. Deposits The company’s deposits are generated primarily from residents and businesses within its primary market area. The company offers a selection of deposit accounts, including checking accounts (demand deposits and NOW), money market deposit accounts, savings accounts, retirement accounts, and time deposits. Subsidiary Activities The company also


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