First Hope Bancorp announces new directors

HOPE — As First Hope Bank continues to celebrate its centennial anniversary, First Hope Bancorp held its Annual Shareholders Meeting on Tuesday, April 17.

Chairman Norman E. Beatty opened the meeting by citing the bank’s strength during the first quarter, as net income was $378,737 and total assets were $411,210,761. An especially bright part of Beatty’s report was the work coming out of First Hope Mortgages, Inc., a wholly owned subsidiary of First Hope Bank. The mortgage subsidiary originated 455 loans resulting in $138,288,323 in mortgage loans. “The work and dedication from First Hope Mortgages is another significant indicator of our auspicious future,” Beatty said.

Results of the shareholders’ voting for directors were announced. Everett A. Chamberlain, Owen D. Dykstra, and Donald D. Somma were each elected to serve a three-year term, while Daniel G. Beatty and Lewis R. Beatty were each elected to serve a one year term.

Everett A. Chamberlain has been a member of the board of directors since 1986. He received his BS degree from Delaware Valley College and a degree of Masters in Agriculture Science from Rutgers University, where he served on their faculty for 32 years prior to his recent retirement. He is also an elected official serving his third term to the Warren County Board of Chosen Freeholders. Chamberlain resides in Belvidere.

Owen D. Dykstra has been a member of the board of directors since 2003. He received a BS degree in Civil Engineering from Rutgers University. Dykstra is a New Jersey State Licensed Professional Engineer and is President of Dykstra Associates, an engineering and surveying firm. Dykstra resides in Sparta.

While newcomers to the board, Donald D. Somma, Lewis R. Beatty, and Daniel G. Beatty are no strangers to First Hope. Somma has been part of First Hope Bank since 1993 and currently holds the position of Senior Executive Vice President. Somma also serves as President of First Hope Mortgages, and is a member of its board of directors. Prior to joining First Hope Bank, Somma worked as a Commercial Lender and Team Leader covering the Morris County area for Howard Savings Bank, and he managed the Commercial Lending and Special Assets departments for Peoples Bank, NA. Somma currently serves on the Board of the American Bankers Association Community Bank Mortgage LLC. He received his BS degree in Accounting from Saint Francis College. Somma resides in Sparta.

Lewis R. Beatty, Senior Vice President and Chief Financial Officer of the bank, has been employed by First Hope Bank since 1999. He received his BA degree from St. Andrews Presbyterian College and his MBA from Wake Forest University Babcock Graduate School of Management. He is a graduate of the Stonier Graduate School of Banking. He serves as Treasurer and is a member of the First Hope Mortgages board of directors. Beatty resides in Blairstown.

Daniel G. Beatty has been with the bank since 2007 and currently serves as Senior Vice President and Chief Operations Officer. He received his BS degree from the United States Military Academy, West Point and served in the Army for six years attaining the rank of Captain. He is currently a student at the Stonier Graduate School of Banking. He is a member of the First Hope Mortgages board of directors. Beatty resides in Fredon.