Robert P. Corcoran, Associate Director
Bob Corcoran is a leader in helping community banks deal with both strategic and asset quality issues. He has an extensive banking background having led two successful New Jersey banks. In 1990, he helped found Somerset Valley Bank and for fifteen years was both its President and CEO. Bob led the bank from its inception through its sale in 2005 for 302% of book and 26 times earnings. At the time of its sale SVB had 11 offices and assets of almost $500 million and retained earnings of $15.1 million. Its return on equity from 2003 through 2005 was in excess of 11%.
After the sale, he remained on as Vice Chairman for the bank and a director of its eventual successor, Skylands Community Bank (a Fulton Financial subsidiary). Bob was a past Chairman and served on the Board of Trustees of the New Jersey Bankers Association.
Prior to forming Somerset Valley Bank, Bob was with Somerset Trust Company for 23 years. In the late 1980s, he was an EVP with responsibilities for commercial lending, operations, branch administration and marketing.
Currently, Bob is involved with assisting community banks as they work their way through issues that include asset quality, branching and operations.