RUMSON, N.J., Jan. 30 /PRNewswire-FirstCall/ -- (OTC Bulletin Board:
RFHB; RFHBW) -- Rumson-Fair Haven Bank & Trust Company (the "Bank"), today
announced that the Bank's net income for 2005 amounted to $280,000, up
significantly from 2004's loss of $45,000.  Excluding securities transactions,
the Bank would have reported net income of $481,000 for the full year as
compared with operating earnings of $91,000 a year ago.  Net income per share
amounted to $.16 and compared with a loss of $.03 per share for 2004.  Fully
diluted earnings were $.15 per share for 2005 and compared with $.03 per share
a year ago.  Due to our tax loss carry forward, Federal tax provisions were
not provided.
    Net income for the three months ended December 31, 2005 amounted to
$101,000, or $.06 per share ($.05 fully diluted) and compares with the fourth
quarter of 2004's net income of $43,000, or $.03 per share, basic and fully
diluted.  During the fourth quarter of 2005, the Bank recognized a securities
loss of $55,000, which reflects the sale of the remaining portion of our
publicly traded, short-term bond funds.  For the year 2005, the Bank sold $5.6
Million of these funds, at a loss of $201,000 with the proceeds used to
provide funding for loan growth and to better position the bank for a higher
interest rate environment.
    Robert E. Davis, President and CEO, attributed the earnings improvement to
growth in the loan portfolio while maintaining control over operating
expenses.  Mr. Davis commented that the emphasis on commercial lending
continues to be very successful and has resulted in a $20.5 Million increase
in loans.  The Bank's capital is strong and will allow the Bank to continue to
expand its loan portfolio, consistent with applicable regulations.

    Rumson-Fair Haven Bank & Trust Company is a New Jersey state-chartered
bank with two branches; the Bank's principal office is located at 20 Bingham
Avenue, Rumson, New Jersey 07760, and its second branch is located at 636
River Road, Fair Haven, New Jersey 07704.
    The business of the Bank is to provide deposit and lending services for
individuals and small to medium-sized businesses and professional practices in
the Bank's market area.  Through its affiliation with Peapack Gladstone
Financial Services, it provides asset management services.  The Bank offers
traditional services such as safe deposit boxes and drive-through teller
windows, as well as newer technological offerings such as Internet banking,
including electronic bill-payment.

    Statements about the future expectations of Rumson-Fair Haven Bank & Trust
Company constitute forward-looking statements.  Since these statements involve
risks and uncertainties and are subject to change at any time, the Bank's
actual results could differ materially from expected results.  Among these
risks, trends and uncertainties are the effect of governmental regulation on
Rumson-Fair Haven Bank & Trust Company, the availability of working capital,
the cost of personnel and the competitive market in which Rumson-Fair Haven
Bank & Trust Company operates.

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