Draft:First Hope Bank
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Comment: "History" deals with the Gemeinhaus. And "Headquarters and heritage" deals with the Gemeinhaus. And their contents are almost the same. Please cut either the one or the other. Hoary (talk) 02:44, 27 September 2025 (UTC)
 | A major contributor to this article appears to have a close connection with its subject. (September 2025) |
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | December 21, 1911 |
Number of locations | Six branches in Warren, Sussex, and Morris counties, NJ |
Area served | Northwestern New Jersey |
Key people | Daniel G. Beatty (President & CEO, from 2024) Donald D. Somma (former CEO) |
| Total assets | Approx. US$500 million (2020)[1] |
| Website | www |
First Hope Bank is a family-owned community bank founded in 1911 and located in Hope, New Jersey. It serves northwestern New Jersey and beyond through six branches. The bank is known for its continuity in family-linked leadership, responsive local banking service, and recognition by independent industry organizations.[2][3]
History
[edit]First Hope Bank was granted a national charter on December 21, 1911, and began operations in March 1912.[4] Its headquarters were established in a Moravian stone building constructed in 1781 in Hope. Known locally as the Gemeinhaus, this originally functioned as a church, community hall, and courthouse before being adapted for use as a bank. The building remains a contributing property of the Hope Historic District, listed on the National Register of Historic Places.[5]
By the late 20th century, First Hope Bank expanded beyond Hope with branches in Great Meadows, Blairstown, Hackettstown, Sparta, and Andover Township. In 1997, it formally adopted the name First Hope Bank, A National Banking Association.[6]
Independent recognition
[edit]In 2024, then-CEO Donald D. Somma received the Excellence in Banking Award from the New Jersey Bankers Association, for his contributions to community banking in the state.[2][3]
That year, the Sparta Independent also profiled the bank's role in the community, noting its accessibility and responsiveness. The report emphasized that staff processed Paycheck Protection Program loans for small businesses in as little as three days during the COVID-19 pandemic, and that senior leadership maintains direct relationships with customers.[7]
Headquarters and heritage
[edit]The bank's main office is in the center of Hope, New Jersey, in the Moravian Gemeinhaus, a stone structure dating to 1781. The building is considered historically significant as part of the federally recognized Hope Historic District.[8]
Leadership
[edit]The bank has been closely associated with the Beatty family across multiple generations. In 2024, Daniel G. Beatty became President and CEO, representing the fourth generation of family involvement, following the tenure of Donald D. Somma, CEO from 2016 to 2024.[2]
References
[edit]- ^ "Community Reinvestment Act Performance Evaluation: First Hope Bank". Office of the Comptroller of the Currency. 2020. Retrieved 2025-09-04.
- ^ a b c "First Hope Bank CEO honored". Sparta Independent. May 30, 2024. Retrieved 2025-09-04.
- ^ a b "2 Recognized for Outstanding Service to NJ's Banking Industry". New Jersey Business Magazine. May 7, 2024. Retrieved 2025-09-06.
- ^ Reporter, Warren (2012-03-23). "First Hope Bank marks centennial with anniversary cake from Carlo's Bakery and festivities". Warren Reporter. Retrieved 2025-09-06 – via nj.com.
- ^ "Hope Historic District Nomination Form". National Register of Historic Places. Retrieved 2025-09-04.
- ^ "Institution History for First Hope Bank". USBankLocations.com. Retrieved 2025-09-04.
- ^ "Why Sussex County residents choose community banks". Sparta Independent. October 15, 2024. Retrieved 2025-09-04.
- ^ "Hope Historic District Nomination Form". National Register of Historic Places. Retrieved 2025-09-04.