Esquire Bank and Beacon Financial Corporation Jointly Announce Termination of Merger Agreement

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Esquire Bank, a federally chartered saving bank headquartered in Garden City, New York and Beacon Financial Corporation, the parent corporation of Beacon Trust Company, Morristown, New Jersey, jointly announced that they have entered into a mutual termination agreement, terminating the Agreement and Plan of Merger (the “Merger Agreement”) that the parties previously executed on May 28, 2010.

Esquire Bank, a federally chartered saving bank headquartered in Garden City, New York and Beacon Financial Corporation, the parent corporation of Beacon Trust Company, Morristown, New Jersey, jointly announced that they have entered into a mutual termination agreement, terminating the Agreement and Plan of Merger (the “Merger Agreement”) that the parties previously executed on May 28, 2010. The parties mutually agreed to terminate the Merger Agreement due, in part, to the current market conditions and the additional time and resources required to obtain all required approvals.

About Esquire Bank

Esquire Bank is a full-service, federally chartered savings bank serving law professionals, professional service firms, small to mid-sized businesses and individuals across the United States. As a full service bank, we offers checking, savings, money market and time deposits; a wide range of commercial and consumer loans including installment and real estate loans; as well as customary banking services including credit cards. Through the Bank’s electronic delivery channels, the Bank provides bill payment services, wire transfers, ACH origination, account transfers and real time deposit relationship updates. The Bank complements these innovative services with a full range of traditional banking products and services. While the Bank is a full-service institution available to all potential customers, the Bank focuses its marketing efforts on professional service firms, small to mid-sized businesses and individuals in the local community surrounding the branch offices and the New York boroughs in order to grow the Bank’s deposit base. Additionally, due, in part, to the substantial ties that many of the Bank’s board members and organizers have to the legal community, the Bank concentrates most of its marketing efforts on the legal community in these areas and nationally. Deposits are insured up to applicable limits of the Federal Deposit Insurance Corporation (“FDIC”). As a federally chartered savings bank, the Bank’s primary regulator is the OTS.

Esquire Bank’s Brooklyn branch is located at 64 Court Street, Brooklyn, NY, and the Garden City branch is at 320 Old Country Road, Garden City, NY. Esquire Bank’s customer support offices in Manhattan are located at 20 East 46th Street, Suite 320, New York, NY and 233 Broadway, 8th Floor, New York, NY.

For more information on Esquire Bank go to http://www.esquirebank.com.

Contact:
Andrew C. Sagliocca
President and Chief Executive Officer
Esquire Bank
516-535-2002

Marc Paley
President and Chief Executive Officer
Beacon Financial Corporation
973-377-8090

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Andrew C. Sagliocca

Marc Paley
Beacon Financial Corporation
973-377-8090
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