Cross River aims to continue momentum in 2024

2023 was another jampacked year for Cross River Bank, and the Fort Lee-based technology infrastructure provider, which offers embedded financial solutions, is looking to carry that momentum forward as the calendar gets ready to flip to the new year.

A prime example of that success can be found in its commercial real estate business. Despite operating in a tricky environment, given high interest rates and a tight credit market, in October, Cross River announced its team closed 78 loans nationwide over the previous 12 months. Totaling more than $840 million, the loans ranged from $450,000 to $81 million across multiple asset types.

“Achieving close to $1 billion in financing over the past 12 months for varying asset classes and markets speaks volumes to our drive and commitment to our clients in these challenging times,” said Cross River Executive Vice President and Chief Lending Officer Shimon Eisikowicz in an October press release. “While other lenders have closed the door on their clients, we’ve used this opportunity to work closely with our borrowers and produce tailored solutions for them without compromising on credit quality.”

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