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Many banks rely solely on bank officers and staff to intimately know the community it serves; however, other banks have created Advisory Boards that extend the scope beyond their own employees. Several banks in Mercer County find their advisory boards, comprised of community and business leaders, to be helpful in their overall business strategy. The banks gain a broader perspective about the local business community from various industry vantage points.

These individuals, together with several of a bank's executive officers, meet regularly to discuss issues that are important to their particular neighborhoods and industries. Often, advisory boards advise about local happenings such as upcoming community events, new housing construction, and new businesses. Furthermore, advisory boards can provide insight about the community, attract business to the bank, and help identify better ways to serve the community.

One local bank, Yardville National Bank renamed its advisory board a Business Development Board two years ago. According to Patrick Ryan, CEO of Yardville National Bank based in Hamilton, the role of Yardville's Business Development Board members involves no liability, or date-specific time commitments. Unlike a board member, only one's guidance is sought, Ryan said.

"We need community representatives, who know what's going on in the local community and refer business to the bank," said Ryan. Ryan said there are two Business Development Boards - one in Mercer County, and a second made of members in Hunterdon, Middlesex and Somerset Counties. Ryan said that sometimes a seat on a business development board can be a springboard to a seat on Yardville's Board of Directors. "It's a chance for us to get to know each other better," he said. Last fall, when Yardville National Bank acquired the Lawrenceville branch of First Savings Bank, Ryan said input from the business development board was sought. "We consulted with members of our business development board who know that area quite well for their input and counsel," he said. "We value their opinion because they are in that community day in and day out."

When selecting members of the Business Development Boards, Ryan reported that members are selected based on several factors. "They have to know our local business community," said Ryan. "Really, both sides have to know each other to see if there's a natural fit. We strive to have a broad spectrum of community and board leaders."

Robert E. Mule, president of General Abstract Title Agency in Hamilton is a longstanding member of Yardville National Bank's Business Development Board.

"My position is unique because I've been on the board the longest," Mule said. "My senior membership and my relationship with the bank puts me in, a good position to know who the genuine people are and know who the players are in Mercer County." Mule said he often reports on business "goingson" in Mercer County. "I'm a tenant in Yardville National Bank's building here in Hamilton and it makes it really convenient to refer business to them," he added.

Such input contributed to Yardville's growth trend in both loans and deposits for the year ended December 31, 2003. Total loans, led by commercial loans, increased by 20.8 percent. Total deposits at December 31, 2003 increased to $1.48 billion from $ 1.2 7 from a year ago.

Jerry Fennelly, president of NAI Fennelly Associates in Hamilton is also a business development board member with Yardville National Bank and said he

continues to spread good news about the bank. "I tell my customers that Yardville National Bank offers favorable rates and tell people about my own good experiences doing business with them," Fennelly said. "I also keep Yardville apprised of what's going on in Mercer County, it's a good way to network here."

Likewise, Sun National Bank, with nine Mercer County locations, has several advisory boards, which vary by region. "The advisory boards are made up of business leaders and people who are community leaders," said Tom Bracken, president & CEO of Sun National Bank, which is headquartered in Vineland. He said the role of members of the committee is to advise regional bank executives of the goings-on in the business community and to act as good-will ambassadors of behalf of the bank. "We want our advisory board telling their customers about us as well as keeping their eyes and ears open and report to us what they see and hear."

Such was the case when a member of Sun's advisory board contacted the executive team at Sun about The Community Bank of New Jersey. "It's fair to say that an advisory board member approached us and suggested it would be in our best interest to get to know the decision-makers, at that bank," said Bracken. In midFebruary of this year, Sun National Bank acquired Community Bank of New Jersey in a stock-for-stock exchange merger valued at $83.2 million. Upon completion of the merger, Sun will have approximately $3.2 billion on total assets and 84 branch offices throughout New Jersey, Delaware and Pennsylvania.

"It is a rare occasion when a bank has the opportunity to fill a significant gap in its marketplace by acquiring a quality institution lead by seasoned and highly competent bankers supported by a committed Board of Directors," Bracken said.

With the year ending December 31, 2003, Sun's strong fourth quarter propelled impressive 2003 results with a 23 percent increase in assets, 12 percent increase in loans, and 11 percent increase in net interest income. "The 2003 fourth quarter and year-end results are a testament to the level of performance achieved across the entire organization and the investments made the past several years," Bracken said. "Our people have enabled us to overcome the challenges of a difficult economic environment and capitalize of opportunities to produce results."

Michael Briehler, president of Pennington Athletic Club in Pennington has been a member of Sun National Bank's advisory board since 1997. "I am the eyes and ears for the bank and we meet on a regular basis to discuss the economic climate of Mercer County," said Briehler. "I have an expansive knowledge of this market and I believe in this bank. They treat every person on a personal level."