Press release

Cross River Expands Capital Markets Portfolio and Professional Team

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Cross River Bank (“Cross River”), a leading innovator and provider of
banking services for financial technology companies, today announced
several key initiatives taken to expand its Capital Markets portfolio
and professional team, further fortifying its commitment and ability to
provide best-in-class capital markets services and solutions to the
fintech community and beyond.

“These changes speak not only to our dedication to providing best of
breed products and services, but also to ensuring we are constantly
innovating and working on new ways to add value to our business and
partners,” said Gilles Gade, Founder, President, and CEO of Cross River.
“Our talented additions to the Capital Markets team, coupled with our
mission of delivering expertise, cutting-edge technology and customer
service, reflect the strength of the department and its enormous
potential to continue to drive change aligned with the needs of our
clients and customers.”

Cross River today announced several key new hires to its Capital Markets
team from online lending and business banking company, Laurel Road,
which was successfully acquired by KeyBank in April 2019. The new team
includes team leader Noah Cooper, who becomes Cross River’s SVP, Head of
Capital Markets, as well as Rahul Jha, Joshua Karlgaard and Ryan
Callahan. They will be focused on managing the Bank’s balance sheet and
secondary market activities including securitization and loan pool sales.

“My colleagues and I have always appreciated Cross River’s position as a
leading innovator as well as its long-standing reputation as a trusted
banking partner,” said Noah Cooper, SVP, Head of Capital Markets. “We
are deeply honored by the opportunity to join Cross River’s impressive
Capital Markets team and look forward to drawing from our own
experiences to continue expanding the Company’s ability to serve the
complex, evolving needs of its partners.”

In addition, Cross River today announced that it has closed a warehouse
facility with Idea Financial, a Miami-based lender that provides access
to affordable and flexible capital to growing small businesses across
the country. Under the terms of the agreement, Cross River will provide
a warehouse facility up to $70 million, which will enable Idea Financial
to deliver greater and more efficient access to credit for small
business customers nationwide. The facility is originated by Cross
River’s Strategic Financing Solutions Group, a specialized team focused
on providing warehouse lending, forward flow and direct lending services
to help empower the growth of early-stage fintechs.

“This financing will allow Idea Financial to scale and marks the
beginning of a very important strategic relationship between Cross River
and Idea Financial,” said Justin Leto, co-founder and CEO of Idea
Financial. Larry Bassuk, co-founder and President of Idea Financial,
added: “With this facility in place, Idea Financial will continue
providing competitively priced financing solutions so our small and
medium sized business clients can grow and thrive.”

About Cross River
Cross River Bank is a fast-growing
financial services organization that merges the established expertise
and traditional services of a bank, with the forward-thinking offerings
of a technology company. They combine a compliant and comprehensive
suite of products into a unique banking-as-a-platform solution,
encompassing lending, payments and risk management. Cross River partners
with leading marketplace lenders and fintech companies enabling them to
focus on their own growth without hindering innovation. Founded in 2008,
Cross River is a New Jersey state-chartered FDIC insured bank. For more
information, please visit Cross River’s website at www.crossriver.com
or the company’s Twitter @crossriverbank.

About Idea Financial
Idea Financial is a digital
small-business lender that provides Main Street businesses with the
financial resources they need to Charge their Businesses Forward. Idea
Financial’s online platform allows a small business owner to apply for,
and receive, up to $250,000 of financing in less than one day. For more
information, visit: www.ideafinancial.com