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City National Bank Closes Hackensack Branch

a City National Bank branch in Manhattan
a City National Bank branch in Manhattan Photo Credit: Wikimedia Commons

HACKENSACK, N.J. -- City National Bank of New Jersey has given notice to regulators that it will shutter its Paterson branch in April, according to The Record. That branch is the last office in the Bergen-Passaic region.

The bank's CEO could not be reached for comment, The Record reported.

Founded in 1973 by Newark African-American community leaders, the bank "has struggled financially in recent years amid a rise in commercial real estate foreclosures," according to The Record article. This branch closure isn't the first ban's first tightening. The bank closed its downtown Hackensack branch in 2010.

Read The Record's full story here.

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