U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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AMENDMENT No. 1
TO THE
FORM 10-QSB
(Mark One)
[X] Quarterly report pursuant to Section 13 or 15 (d) of the Securities
Exchange Act of 1934
For the quarterly period ended March 31, 2001
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[_] Transition report under Section 13 or 15 (d) of the Exchange Act
For the transition period from ________ to ________
Commission file number 000-26587
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COMMUNITY BANCORP OF NEW JERSEY
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(Exact name of registrant as specified in its charter)
New Jersey 22-3666589
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3535 Highway 9 North, Freehold, New Jersey 07728
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(Address of principal executive offices)
(Issuer's telephone number, including area code) (732) 863-9000
Not Applicable
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(Former name, former address and former fiscal year, if changed since last
report)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Sections 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes [ X ] No [ ]
Common Stock, No Par Value-1,918,957 shares outstanding as of May 11, 2001
Community Bancorp of New Jersey has filed an amendment to Form 10QSB for the
quarter ended March 31, 2001 to include the "Consolidated Condensed Balance
Sheet" which was not transmitted with the original filing.
COMMUNITY BANCORP OF NEW JERSEY
CONSOLIDATED CONDENSED BALANCE SHEETS
March 31,
2001 December 31,
(Unaudited) 2000
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(Dollars in thousands)
ASSETS
Cash and cash equivalents:
Cash and due from banks .................................................... $ 6,605 $ 5,764
Federal funds sold ......................................................... 29,570 3,860
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Total cash and cash equivalents .................................. 36,175 9,624
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Investment securities available-for-sale ........................................... 11,273 34,106
Investment securities held-to-maturity (fair value of $6,561 at
March 31, 2001 and $10,469 at December 31, 2000) ........................... 6,499 10,498
Loans receivable ................................................................... 133,031 121,966
Allowance for loan loss ............................................................ (1,730) (1,584)
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Net loans receivable ............................................. 131,301 120,382
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Premises and equipment, net ........................................................ 5,493 5,002
Accrued interest receivable ........................................................ 1,022 1,497
Other assets ....................................................................... 712 943
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Total Assets ..................................................... $ 192,475 $ 182,052
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LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing demand ................................................ $ 33,245 $ 30,090
Interest bearing - NOW ..................................................... 18,732 15,368
Savings and money market ................................................... 56,169 58,587
Certificates of deposit, under $100,000 .................................... 39,566 34,291
Certificates of deposit, $100,000 and over ................................. 22,762 22,179
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Total deposits ................................................... 170,474 160,515
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Accrued interest payable ........................................................... 1,512 1,491
Other liabilities................................................................... 728 631
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Total liabilities ................................................ 172,714 162,637
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Stockholders' equity
Common stock - authorized 10,000,000 shares of
no par value; issued and outstanding, net of treasury
shares, 1,918,957 at March 31, 2001 and December
31, 2000.............................................................. 21,663 21,663
Accumulated deficit......................................................... (1,579) (1,913)
Accumulated other comprehensive income ..................................... 40 28
Treasury stock, 22,357 shares, at cost ..................................... (363) (363)
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Total stockholders' equity ....................................... 19,761 19,415
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Total Liabilities and Stockholder's Equity ....................... $ 192,475 $ 182,052
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See accompanying notes to consolidated condensed financial statements.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COMMUNITY BANCORP OF NEW JERSEY
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(Issuer)
Date: June 15, 2001 By: /s/ Robert D. O'Donnell
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ROBERT D. O'DONNELL
President and Chief Executive Officer
By: /s/ Michael Bis
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MICHAEL BIS
Vice President and Chief Financial Officer