l62515011k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 11-K

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


(Mark One)

x
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2014

OR

o
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _________

Commission file number 000-32891



A.  Full title of the plan and the address of the plan, if different from that of the issuer named below:

1ST CONSTITUTION BANK 401(K) RETIREMENT SAVINGS PLAN

B.  Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

1st Constitution Bancorp
2650 Route 130
Cranbury, New Jersey 08512
 
 
 
 
 
 
    
 
 
 
 
 
1st Constitution Bank 401(k)
Retirement Savings Plan
 
Financial Statements and
Supplementary Information
 
December 31, 2014 and 2013
    
 
 
 
 
 
    
 
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan
Table of Contents
December 31, 2014 and 2013

 
   Page   
   
Report of Independent Registered Public Accounting Firm
1
   
Financial Statements
  
   
Statement of Net Assets Available for Benefits
2
   
Statement of Changes in Net Assets Available for Benefits
3
   
Notes to Financial Statements
4
   
Supplementary Information
  
   
Schedule H, Line 4(a) - Schedule of Delinquent Participant Contributions
13
   
Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)
14
 
 
 
 
 
Report of Independent Registered Public Accounting Firm
 
 
Trustee, Audit Committee and Participants
1st Constitution Bank 401(k) Retirement Savings Plan
 
We have audited the accompanying statement of net assets available for benefits of the 1st Constitution Bank 401(k) Retirement Savings Plan (the “Plan”) as of December 31, 2014 and 2013, and the related statement of changes in net assets available for benefits for the year ended December 31, 2014. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2014 and 2013, and the changes in net assets available for benefits for the year ended December 31, 2014 in conformity with accounting principles generally accepted in the United States of America.
 
The supplemental information in the accompanying schedules of Schedule H, Line 4(a) - Schedule of Delinquent Participant Contributions and Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year) as of or for the year ended December 31, 2014 have been subjected to audit procedures performed in conjunction with the audit of the 1st Constitution Bank 401(k) Retirement Savings Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but include supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedules is fairly stated in all material respects in relation to the financial statements as a whole.
 

/s/ Baker Tilly Virchow Krause, LLP
Clark, New Jersey
June 29, 2015
 
 
1
 
1st Constitution Bank 401(k) Retirement Savings Plan
Statement of Net Assets Available for Benefits
December 31, 2014 and 2013
 
             
   
2014
    
2013
  
             
Assets
            
Investments, at fair value
   $ 8,058,544     $ 6,864,856  
Cash
     54,441       5,087  
Notes receivable from participants
     226,871       163,666  
                 
Total assets
     8,339,856       7,033,609  
                 
Liabilities
     9,940       -  
                 
Net assets available for benefits at fair value
     8,329,916       7,033,609  
                 
Adjustment from Fair Value to Contract Value for
                
Interest in Fully Benefit-Responsive Investment Contract
     (3,173 )     (1,234 )
                 
Net assets available for benefits
   $ 8,326,743     $ 7,032,375  
 
See notes to financial statements
 
 
2
 
1st Constitution Bank 401(k) Retirement Savings Plan
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2014
 
Additions to Net Assets Attributed to
      
Investment income:
      
Net depreciation in fair value of investments
   $ (9,909 )
Interest and dividends
     371,426  
         
Net investment income
     361,517  
         
Interest income on notes receivable from participants
     6,151  
         
Contributions:
        
Participant
     779,846  
Employer
     243,684  
Rollovers
     324,730  
         
Total contributions
     1,348,260  
         
Total additions
     1,715,928  
         
Deductions from Net Assets Attributed to
        
Benefits paid to participants
     383,880  
Administrative expenses
     37,680  
         
Total deductions
     421,560  
         
Net increase in net assets available for benefits
     1,294,368  
         
Net Assets Available for Benefits
        
Beginning of year
     7,032,375  
         
End of year
   $ 8,326,743  

See notes to financial statements
 
 
3
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
1.
Description of the Plan
 
The following description of the 1st Constitution Bank 401(k) Retirement Savings Plan (the “Plan”) provides only general information. Participants should refer to the plan document for a more complete description of the Plan’s provisions.
 
General
 
The Plan is a defined contribution plan covering all eligible employees of 1st Constitution Bank (the “Company” or “Sponsoring Employer”) who have completed 6 months of service and are age twenty-one or older. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).  1st Constitution Bank acquired Rumson –Fair Haven Bank & Trust (“Rumson Bank”) in 2014.  The Plan was amended effective February 7, 2014, in order to grant predecessor service credit for participants who were employed with Rumson-Fair Haven Bank & Trust.  Participants of the Rumson-Fair Haven Bank & Trust 401(k) Profit Sharing Plan were immediately eligible for the Plan.
 
Contributions
 
Each year, participants may contribute up to 100% of pretax annual compensation, as defined by the Plan up to the maximum limits of the Internal Revenue Code (“IRC”). Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollovers). The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 3 percent of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. Participant contributions to the Plan are recorded in the period that payroll deductions are made from participants. The Company contributes a matching contribution of up to 3 percent of eligible participant compensation, as defined by the Plan. Matching Company contributions are recorded in the same period as participant contributions. Participants direct the investment of all contributions into various investment options offered by the Plan. Contributions are subject to certain limitations.
 
Participant Accounts
 
Each participant’s account is credited with the participant’s contribution and allocations of (a) the Company’s contribution and (b) Plan  earnings (loss), and charged with an allocation of administrative expenses. Allocations are based on participant  earnings (loss) or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.
 
 
 
4
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
Vesting
 
Participants are immediately vested in their contributions plus actual earnings (loss) thereon. Vesting in the Company’s matching contribution is based on years of continuous service. Participants are fully vested after three years of credited service, as follows:
 

Years of Service
   Percentage
     
1 year
  
0%
2 years
  
50%
3 years
  
100%

A year of service for vesting will be determined on the basis of the hours of service method.  The participant is credited with a year of service for vesting purposes upon completion of 1,000 hours of service during the Plan year.

 
 
Notes Receivable from Participants
 
Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Borrowings are secured by the balance in the participant's account and bear  the interest rate of 3.25% - 4.25% at December 31, 2014. Principal and interest is paid ratably through bi-weekly payroll deductions. Terms range from one to five years or greater for the purchase of a primary residence. The number of outstanding loans that a participant can have at one time is two loans.
 

Payment of Benefits
 
On termination of service, a participant may elect to receive an amount equal to the value of the participant’s vested interest in his or her account in a lump sum.  If the balance is equal to or greater than $5,000, the participant may elect to defer payment. In addition, the Plan allows for hardship distributions if certain criteria are met.
 
Forfeited Accounts
 
At December 31, 2014 and 2013, forfeited non-vested accounts totaled $837 and $0, respectively. The forfeiture account is used to offset Plan expenses or future Company matching contributions. During 2014, $4,290 was used to reduce Plan expenses.
 
Cash Account
 
At December 31, 2014 and 2013, a cash account balance of $54,441 and $5,087, respectively, was in a non-interest bearing  cash account. This account is used by the custodian and record keeper of the Plan for Plan fees.
 
 
 
5
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
2.
Summary of Significant Accounting Policies
 
Basis of Accounting
 
The financial statements of the Plan are prepared on the accrual basis of accounting.
 
Investment contracts held by a defined contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in an investment contract through a common collective trust fund. The Statement of Net Assets Available for Benefits presents the fair value of the investment contract held in the common collective trust fund as well as the adjustment of the fully benefit-responsive contract from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis.
 
Use of Estimates
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires Plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosures of contingent assets and liabilities. Actual results could differ from those estimates.
 
Investment Valuation and Income Recognition
 
Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 3 for a discussion of fair value measurements.
 
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net depreciation includes the Plan's gains and losses on investments bought and sold as well as held during the year.
 
Notes Receivable from Participants
 
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable are recorded as distributions based upon the terms of the plan document.
 
 
 
6
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
Administration of Plan Assets
 
The Plan’s assets are  administered under a contract with Daily Access Corporation (“DAC”)  as the  record keeper. MG Trust acts as the custodian and trustee of the Plan. The custodian invests funds received from contributions, investment sales, interest, and dividend income and makes distribution payments to participants. Certain administrative expenses of maintaining the Plan are paid by the Company.
 
Payment of Benefits
 
Benefits are recorded when paid.
 
Recent Accounting Pronouncements
 
In May 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-07,  Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate New Asset Value per Share (or Its Equivalent) (“ASU 2015-07”). ASU 2017-07 removes the requirement to include investments in the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient under Accounting Standards Codification 820.  ASU 2015–07 is effective for the Plan for years beginning after December 15, 2015  with early adoption permitted.  Management is currently evaluating the impact of the pending adoption of ASU 2015-07 on the Plan’s financial statements.
 
 
 
7
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
3.
Fair Value Measurements
 
The Plan measures its investments at fair value on a recurring basis in accordance with U.S. GAAP. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The framework that the authoritative guidance establishes for measuring fair value includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs used in determining valuations into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:
 
Level 1 - Fair value is based on unadjusted quoted prices in active markets that are accessible to the Plan for identical assets. These generally provide the most reliable evidence and are used to measure fair value whenever available.
 
Level 2 - Fair value is based on significant inputs, other than Level 1 inputs, that are observable either directly or indirectly for substantially the full term of the asset through corroboration with observable market data. Level 2 inputs include quoted market prices in active markets for similar assets or liabilities, quoted market prices in inactive markets for identical or similar assets, and other observable inputs.
 
Level 3 - Fair value would be based on significant unobservable inputs. Examples of valuation methodologies that would result in Level 3 classification include option pricing models, discounted cash flows, and similar techniques
 
Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2014 and 2013. There were no transfers of investments between Level 1 and Level 2 during the years ended December 31, 2014 and 2013.  The Plan held no Level 3 investments during 2014 or 2013.
 
Shares of registered investment companies are valued at the quoted net asset value (“NAV”) of shares held by the Plan at year end.
 
The common collective trust fund is valued based upon the units of the common collective trust fund held by the Plan at year end times the respective unit value. The unit value of the common collective trust fund is based upon significant observable inputs, although is not based upon quoted market prices in an active market. The common collective trust fund’s investment objective is designed to provide a high level of return, to seek the preservation of capital and to provide a competitive level of income over time that is consistent with the preservation of capital. To achieve its investment objective, the common collective trust fund is invested in a Guaranteed Interest Contract whose assets are invested in the Wells Fargo Stable Value Fund and enters into “wrapper” contracts issued by third-parties and invests in cash equivalents represented by shares in a money market fund. The characteristics of this contract allow for their principal value to remain stable regardless of the volatility of the bond market. The contracts are typically issued by life insurance companies, banks or other financial institutions. The underlying investments of the common collective trust fund consist primarily of Level 2 inputs, consisting of inputs either directly or indirectly observable for substantially the full term of the asset through corroboration with observable market data. The Plan’s investment in the common collective trust fund is not subject to any withdrawal or redemption restrictions. The Plan has no unfunded commitments relating to the common collective trust fund at December 31, 2014 and 2013.
 
 
 
8
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
1st Constitution Bank Unitized Stock Fund is a fund available to the participants to direct their contributions into. The 1st Constitution Bank Unitized Stock Fund are unitized funds that fluctuate directly with the value of the securities held in the fund, primarily consisting of 1st Constitution Bancorp stock. The NAV per unit is primarily derived from the Company’s close prices as reported on a national securities exchange on the last business day of the Plan year based on the unit equivalent number of shares. In addition, the fund can include short-term investment of cash in a money market account.
 
The preceding methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
 
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014:
 
   
Assets at Fair Value as of December 31, 2014
  
   
Level 1
    
Level 2
    
Level 3
     Total  
Registered investment
companies:
                                
Target funds
   $ 1,331,175     $ -     $ -     $ 1,331,175  
Equity funds
     3,725,724       -       -       3,725,724  
Balanced fund
     304,090       -       -       304,090  
Bond Funds
     447,198       -       -       447,198  
1st Constitution Bank Unitized
Stock Fund
             2,020,551       -       2,020,551  
Common collective trust fund,
Wells Fargo Stable Value
Fund
     -       229,806       -       229,806  
                                 
Total
   $ 5,808,187     $ 2,250,357     $ -     $ 8,058,544  
 
 
 
9
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2013:
 
   
Assets at Fair Value as of December 31, 2013
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Registered investment
companies:
                        
Target funds
   $ 932,021     $ -     $ -     $ 932,021  
Equity funds
     3,009,180       -       -       3,009,180  
Balanced fund
     482,827       -       -       482,827  
Bond Funds
     398,525       -       -       398,525  
1st Constitution Bank Unitized
Stock Fund
             1,886,839       -       1,886,839  
Common collective trust fund,
Wells Fargo Stable Value
Fund
     -       154,229       -       154,229  
                                 
Total
   $ 4,822,554     $ 2,042,302     $ -     $ 6,864,856  


 
4.
Investments
 
The following presents investments that represent 5% or more of the Plan’s net assets available for benefits at December 31, 2014 and 2013.
 
   
2014
    
2013
  
             
1st Constitution Bank Unitized Stock Fund
   $ 2,020,551     $ 1,886,839  
JP Morgan Equity Index
     1,128,527       798,460  
T Rowe Price Mid-Cap Value
     450,154       333,601  
Franklin Growth Series
     416,747       *  
Columbia Acorn USA Fund
     429,817       386,251  
Pimco Total Return
     *       316,874  
American Funds American Balanced
     *       482,827  
Oppenheimer Developing Markets
     *       305,793  
 
 
*Investment did not represent 5% of more of the Plan’s net assets.
 
 
 
10
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
During 2014, the Plan’s investments (including gains and losses on investments bought, sold, as well as held) during the year appreciated (depreciated) in fair value as follows:
 
   
2014
  
       
Registered investment companies
   $ 604  
1st Constitution Bank Unitized Stock Fund
     (11,757 )
Common collective trust fund
     1,244  
         
Total
   $ (9,909 )

 
5.
Related Party Transactions/Party-in- Interest
 
The Plan issues loans to participants, which are secured by the participant’s account balances. These transactions qualify as party-in-interest transactions.  DAC, as the record keeper, is the administrator of these transactions.
 
Certain administrative functions of the Plan are performed by officers or employees of the Company. No such officer or employee receives compensation from the Plan.
 
At December 31, 2014 and 2013, the Plan held 168,624 units and 154,139 units, respectively, of common stock, 1st Constitution Bancorp stock with a cost basis of $1,290,941 and $1,138,302, respectively, and a fair value of $1,836,315 and $1,695,529, respectively. Purchase transactions and sales proceeds recorded in common stock during 2014 were  $338,345 and $192,876, respectively.  There were no dividends earned on the 1st Constitution Bank common stock fund in 2014.
 

6.
Plan Termination
 
Although it has not expressed any intent to do so, the Company has the right to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100 percent vested in their Company contributions.
 
7.
Tax Status
 
The Internal Revenue Service (“IRS”) has determined and informed the Company by a letter dated March 31, 2008, that the Plan and related trust are designed in accordance with applicable sections of the IRC. The Plan has been amended since receiving the determination letter. However, the Plan administrator believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC as of December 31, 2014 and 2013.
 
U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2014 and 2013, there are no uncertain positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2011.
 
 
 
11
 
 
 
1st Constitution Bank 401(k) Retirement Savings Plan 
Notes to Financial Statements
December 31, 2014 and 2013
 
 
8.
Risks and Uncertainties
 
The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statement of Net Assets Available.
 

9.
Delinquent Participant Contributions
 
For the year ended December 31, 2014, the Company did not remit 2 remittances of participant contributions to the Plan on a timely basis as defined by the Department of Labor’s Rules and Regulations for Reporting and Delinquent Participant Contributions Disclosure under ERISA. Such contributions totaled $54,998 for the year ended December 31, 2014 which are summarized on the Schedule for Delinquent Participant Contributions and were self corrected in 2014. The Company paid the lost earnings of $34 in 2014 relating to the late remittances of contributions for the year ended December 31, 2014.
  
 
 
12
 
 
1st Constitution Bank 401(k) Retirement Savings Plan
Schedule H, Line 4(a) - Schedule of Delinquent Participant Contributions
EIN: 22-2937245     Plan Number: 001
Year Ended December 31, 2014
 
   
Total that Constitute Nonexempt Prohibited Transactions
    
Participant Contributions
  
Contributions not
  
Contributions Corrected
  
Contributions Pending
  
Total Fully Corrected Under
Transferred Late to the Plan (1)
  
Corrected
  
Outside of VFCP
  
Correction in VFCP
  
VFCP and PTE 2002-51
                             
  $
   54,998
       $
-
       $
54,998
         -         -  

 
(1)
Amount does not include participant loan repayments
 
 
13
 
 
1st Constitution Bank 401(k) Retirement Savings Plan
Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)
EIN: 22-2937245     Plan Number: 001
December 31, 2014
 
                 
Current
  
(a)
  
Identity of Issue (b)
  
Description of Investment (c)
  
Cost (d)
    
Value (e)
  
                     
   
Registered investment company
  
American Funds American Balanced
   N/R     $ 304,090  
   
Registered investment company
  
American Funds High Income Trust
   N/R       51,676  
   
Registered investment company
  
American Funds Capital World Bond
   N/R       49,438  
   
Registered investment company
  
American Funds EuroPacific Growth
   N/R       204,707  
   
Registered investment company
  
American Funds New Perspective
   N/R       77,802  
   
Registered investment company
  
Columbia Acorn USA Fund
   N/R       429,817  
   
Registered investment company
  
Franklin Growth Series
   N/R       416,747  
   
Registered investment company
  
JP Morgan Equity Index
   N/R       1,128,527  
   
Registered investment company
  
Oppenheimer Developing Markets
   N/R       240,003  
   
Registered investment company
  
Pimco Total Return
   N/R       346,084  
   
Registered investment company
  
Prudential Jennison Mid-Cap Growth
   N/R       203,448  
   
Registered investment company
  
T Rowe Price Equity Income
   N/R       259,515  
   
Registered investment company
  
T Rowe Price Mid-Cap Value
   N/R       450,154  
   
Registered investment company
  
T Rowe Price Retirement 2005 Fund
   N/R       9,287  
   
Registered investment company
  
T Rowe Price Retirement 2015 Fund
   N/R       288,136  
   
Registered investment company
  
T Rowe Price Retirement 2020 Fund
   N/R       234,219  
   
Registered investment company
  
T Rowe Price Retirement 2025 Fund
   N/R       182,983  
   
Registered investment company
  
T Rowe Price Retirement 2030 Fund
   N/R       240,373  
   
Registered investment company
  
T Rowe Price Retirement 2035 Fund
   N/R       66,760  
   
Registered investment company
  
T Rowe Price Retirement 2040 Fund
   N/R       181,346  
   
Registered investment company
  
T Rowe Price Retirement 2045 Fund
   N/R       13,457  
   
Registered investment company
  
T Rowe Price Retirement 2050 Fund
   N/R       86,415  
   
Registered investment company
  
T Rowe Price Retirement 2055 Fund
   N/R       28,199  
   
Registered investment company
  
Thornburg Core Growth Fund
   N/R       27,907  
   
Registered investment company
  
Columbia Small Cap Index
   N/R       287,097  
   
Common Collective Trust Fund
  
Wells Fargo Stable Value Fund
   N/R       229,806  
*
  
1st Constitution Bank Unitized Stock
  
Common Stock
   N/R       2,020,551  
*
  
Participant Note Receivables
  
Interest rates: 3.25%-4.25%
   $0       226,871  
                       
                  $ 8,285,415  
                       
*
  
Party-in-interest transactions as defined by ERISA
  
   
N/R - Cost omitted for participant directed investments
  

 
14
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
   
1ST CONSTITUTION BANK 401(K)
   
RETIREMENT SAVINGS PLAN
   
(Name of Plan)
     
     
DATE:  June 29, 2015
By:  
/s/ Dorine M. Nicol
   
Dorine M. Nicol
   
Sr. Vice President/Human Resources Director
 
 
 
 
 
Exhibit Index

Exhibit 23.1
Consent of Independent Registered Public Accounting Firm