RomAsia Bank, 4287 Route 1 South, Monmouth Junction 08852; 609-897-8100; fax, 609-897-8138. Dominick Mazzagetti, president and CEO. www.romasiabank.com
RomAsia, a bank catering to the Asian-American community in Middlesex County, has named four new members to its advisory board in the wake of the grand opening of its second branch in Edison last month.
Kris Kolluri, head of the state Schools Development Authority; Nag Karaka, CEO of the Penntex Group IT firm of Edison; Edison-based attorney Jimmy Hu; and Y.C. Tsien, former executive director of the New Jersey Chinese American Chamber of Commerce were announced on July 9.
RomAsia opened its doors in Monmouth Junction in 2008 as an offshoot of Roma Financial, based in Robbinsville. This is the first satellite branch to open.
Roma Bank, RomAsia’s holding company headquartered in Robbinsville, completed its $14.7 million acquisition of Mount Laurel-based Sterling Bank Monday.
The acquisition was announced in March (U.S. 1, March 24), but the deal needed to be finalized. On Monday, Sterling’s 10 branches in Burlington and Camden counties opened as Roma branches, giving Roma 24 branches between Mercer and Camden counties.
Sterling, which ran into trouble with spot construction loans for individuals building a house, was forced last year by the Federal Reserve Bank of Philadelphia to boost its loan loss reserves.
But while Roma reported a $2.6 million profit in 2009, Sterling reported a loss of $9.6 million.
According to the Philadelphia Inquirer, Sterling head nearly $379 million in assets at year’s end and the two banks now hold $1.7 billion in assets and $1.3 billion in deposits.
#b#New in Town#/b#
Re/Max One, 4260 Route 1 North, Suite 3, Monmouth Junction 08852; 732-438-0001; fax, 732-438-0007. Charan Bajwa, licensed real estate broker. www.bajwahomes.com
Real estate agent Charan Bajwa, above, recently opened her own 3,500-square-foot Re/Max office at 4260 Route 1 North in Monmouth Junction. The office serves Middlesex, Mercer, Somerset, and Monmouth counties.
This is the first business for Bajwa, who has been a real estate agent for eight years.
When she set out on the path to real estate, she says, she wanted to run her own business. Recently she was heralded by officials in South Brunswick for being able to reach her goal so quickly.
Bajwa, the daughter of writer and playwright, grew up in India, where she received her bachelor’s in computer science.
She came to the U.S. for a job in the IT industry before trading the field for real estate, hoping to start her own business. She lives in Middlesex County with her husband, two daughters, and her in-laws.
Kavayah Solutions Inc., 5 Independence Way, Suite 180, Princeton 08540; 609-919-9797; fax, 609-919-9679. Vivek Casula, president. www.kavayahsolutions.com
Kavayah Solutions, an E-commerce and IT firm founded as Multiconnect by Vivek Casula in 2002, has opened an office on Independence Way.
A 15-year veteran of the enterprise-software industry, Casula is the former director of systems architecture for Thomson Peterson’s, where he headed the company’s strategic vision and technology-implementation strategy.
He also managed several software development efforts, including an E-learning system for Peterson’s online courses.
Prior to joining Thomson Peterson’s, Casula held several technical, management consulting, and client-engagement positions with Thomson Consulting.
He holds master’s degrees in engineering physics and computer science, which he received from NYIT in 1994.
VIA Pharmaceuticals, 101 College Road, Princeton 08540.www.viapharmaceuticals.com
VIA, a San Francisco-based developer of drugs and compounds that target inflammation in the blood vessel wall, has moved its College Road offices to Fort Washington, Pennsylvania. The firm can be reached at 267-513-1789.