Highlands State Bank receives charter

VERNON n Highlands State Bank has received approval of its application for a bank charter from the New Jersey Department of Banking and Insurance. The approval, included in the commissioner's decision and order, is subject to certain conditions. The bank had previously received approval from the Federal Deposit Insurance Corporation. George E. Irwin, president and CEO of the bank, reported that the bank has raised more than $8 million towards its goal of $10 million in capital. He said he expects the bank to open in the fourth quarter of this year.