Absecon Bancorp (ASCN)

Overview

Absecon Bancorp serves as the banking holding company for The First National Bank of Absecon, delivering a comprehensive range of banking products and services to customers mainly within Atlantic County, New Jersey. Since its foundation in 1916, it has established itself as a reliable regional institution, rooted in Absecon, New Jersey. The bank extends its services to neighboring areas, including parts of Burlington, Cape May, and Ocean Counties, ensuring broad coverage and accessibility. With a commitment to both personal and business banking needs, Absecon Bancorp maintains operational facilities in Absecon, Galloway Township, and Northfield, securing its position as a cornerstone of the local financial landscape.

Products and Services

Personal and Business Banking Accounts: Absecon Bancorp offers a variety of accounts including checking, NOW, money market, and savings accounts. Customers can benefit from personalized account options designed to meet diverse financial requirements.

Certificates of Deposit and Individual Retirement Accounts: Customers looking for secure investment vehicles can opt for certificates of deposit with competitive rates. For those planning for retirement, the bank provides several IRA options.

Credit Card Merchant Accounts: Business clients can avail themselves of merchant account services, enabling efficient and secure credit card transactions for their operations.

Consumer Loans: The bank offers a range of consumer loan products, including both secured and unsecured personal loans, finance for new and used vehicles, fixed-rate home equity loans, and home equity lines of credit. These loan options cater to various personal financing needs.

Mortgages: For customers looking to buy, build, or invest in property, Absecon Bancorp provides several mortgage solutions. These include fixed-rate and construction mortgages, as well as specific programs for investment properties, second homes, and land purchases.

Commercial Lending: On the business front, the bank offers commercial mortgages, lines of credit, accounts receivable and inventory financing, letters of credit, equipment financing, and demand loans, supporting businesses at various stages of growth.

Merchant Processing and Additional Services: Beyond core banking products, Absecon Bancorp offers credit card merchant processing services, wire transfers, direct deposits, night deposits, and personal overdraft protection. The bank also embraces modern banking conveniences with telephone and internet banking services, ensuring customers can manage their finances effectively at their convenience.