There was no bigger story in banking this year than the fight over municipal deposits. Once the sole domain of banks, legislation that the governor signed earlier this year has now opened this lucrative realm to credit unions, marking a big victory for them and a setback for bankers.
That conflict shapes this year’s banking list, which is NJBIZ’s first. Some unexpected names made their way near the top, thanks to their role in the legislative process, some credit union heavyweights clawed their way up a few places, and some champions of banks found their stature diminished as a result of the bill passing.
There are a few other names the average reader might not recognize — see No. 50 — but each plays a critical role in shaping the world of banking in New Jersey. On Monday, check out NJBIZ and NJBIZ.com for an in-depth look at who’s shaping the course of this pivotal industry.