The largest single CRE loan, which was completed at the end of 2018, was a $42 million transaction to refinance the commercial mortgages on 27 retail properties in multiple locations.

“We are very optimistic about our ability to originate CRE loans this year,” says Orefice. “Yes, challenges lie ahead in terms of the intense competition in our market, potential macroeconomic concerns, and interest rates increases. To balance those forces, we rely on the support of the bank's senior managers, our reputation as a reliable CRE lender and our strong relationships with leading commercial property owners.”

Among the larger loans that were completed by the bank in New Jersey:

• $32.3 million loan to acquire a 236,600 square-foot multifamily housing property with 146 residential units in Fairview
• $16.1 million loan to acquire a 171,200 square-foot office building in New Providence
• $15 million loan to refinance a 128,700 square-foot office building in Englewood Cliffs
• $11 million loan to refinance a 240,000 square-foot multifamily housing property in East Windsor that has 220 residential units, and
• $10.8 million loan to refinance a 90,000 square-foot multifamily housing property in Morristown, which has 76 residential units and 45 parking spaces.