Fort Lee-based Cross River Bank, known for its Commercial Banking Group and real estate lending platform, on Thursday said it closed over $200 million in originations in the first quarter of the year.
True to the company’s history of supporting the needs of the smallest to largest real estate businesses, the team funded deals from $500,000 to $50 million across a combination of asset classes.
“Our team has once again risen to the challenge of performing in a tough environment — remaining steadfast in our focus on credit culture and diversification of market share,” Shimon Eisikowicz, executive vice president and chief lending officer at Cross River, said. “We look forward to building on this momentum, while prioritizing the relationships with and fulfilling the needs of our borrowers.”
With a continued focus on commercial real estate, health care lending and the recent hiring of industry veteran Tim Wolf to head lender finance, the team has achieved impressive year-over-year growth in both divisions.
CBG facilitated an increased loan volume while maintaining a diversified portfolio and mitigating risk through strategic portfolio management and its focus on credit culture. Cross River’s impressive first-quarter performance further demonstrates the bank’s strong market presence and dedication to delivering tailored financial solutions across multiple asset classes, including multifamily, retail, industrial, mixed-use, construction, warehouse, health care facilities and warehouse lines of credit.
By leveraging Cross River’s proprietary technology platform and concentrating on a diversified business model and strict approach to credit and compliance, the group continues to meet the evolving needs of borrowers with customized credit offerings and a streamlined underwriting and closing process.
