First Choice Bank, Mercerville, New Jersey, Assumes All of the Deposits of Vantage Point Bank, Horsham, Pennsylvania — 2014-02-28

Vantage Point Bank, Horsham, Pennsylvania, was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Choice Bank, Mercerville, New Jersey, to assume all of the deposits of Vantage Point Bank. The sole branch of Vantage Point Bank will reopen as a branch of First Choice Bank during their normal business hours. Depositors of Vantage Point Bank will automatically become depositors of First Choice Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits.