1ST Constitution Bancorp Announces Its Rights Offering Fully Subscribed

Wed Oct 10, 2012 9:30am EDT

* Reuters is not responsible for the content in this press release.

  CRANBURY, NJ, Oct 10 (Marketwire) -- 
1ST Constitution Bancorp (NASDAQ: FCCY), parent company of 1ST
Constitution Bank, today announced the successful completion of its
rights offering, which expired on October 5, 2012. 

    1ST Constitution estimates it will receive gross proceeds of
approximately $5.0 million, which based on holders of subscription rights
who exercised their basic subscription rights in full and additional
shares of Common Stock pursuant to the over subscription privilege, the
rights offering was fully subscribed. The Company also reported that the
demand for its shares in the rights offering exceeded the available
shares being offered by approximately 200,000 shares. 

    Accordingly, 1ST Constitution Bancorp expects to distribute a total of
555,555 shares of common stock to the holder of subscription rights who
validly exercised their subscription rights and paid the subscription in
full, including pursuant to the exercise of the over subscription
privilege. 

    Robert F. Mangano, President and Chief Executive Officer, said, "The 1ST
Constitution Bancorp Board of Directors extends its sincere appreciation
to all shareholders who participated in, and contributed to the success
of the rights offering."

    About the Company

    1ST Constitution Bancorp, through its primary subsidiary, 1ST
Constitution Bank, operate fourteen branch banking offices in Cranbury
(2), Fort Lee, Hamilton, Hightstown, Hillsborough, Hopewell, Jamesburg,
Lawrenceville, Perth Amboy, Plainsboro, Rocky Hill, West Windsor, and
Princeton, New Jersey.

    1ST Constitution Bancorp is traded on the Nasdaq Global Market under the
trading symbol "FCCY" and can be accessed through the Internet at
www.1STCONSTITUTION.com

    The foregoing contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements are
not historical facts and include expressions about management's
confidence and strategies and management's expectations about new and
existing programs and products, relationships, opportunities, taxation,
technology and market conditions. These statements may be identified by
such forward-looking terminology as "expect," "look," "believe,"
"anticipate," "may," "will," or similar statements or variations of such
terms. Actual results may differ materially from such forward-looking
statements. Factors that may cause results to differ materially from such
forward-looking statements include, but are not limited to, changes in
the direction of the economy in New Jersey, the direction of interest
rates, effective income tax rates, loan prepayment assumptions, continued
levels of loan quality and origination volume, continued relationships
with major customers including sources for loans, a higher level of net
loan charge-offs and delinquencies than anticipated, bank regulatory
rules, regulations or policies that restrict or direct certain actions,
the adoption, interpretation and implementation of new or pre-existing
accounting pronouncements, a change in legal and regulatory barriers
including issues related to compliance with anti-money laundering and
bank secrecy act laws, as well as the effects of general economic
conditions and legal and regulatory barriers and structure. 1ST
Constitution Bancorp assumes no obligation for updating any such
forward-looking statements at any time, except as required by law. 

    

CONTACT:
Robert F. Mangano
President & Chief Executive Officer
(609) 655-4500

Joseph M. Reardon
Sr. Vice President & Treasurer
(609) 655-4500 

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