New Jersey Community Bank Announces Management Reorganization

FREEHOLD, NJ / ACCESSWIRE / April 30, 2015 / New Jersey Community Bank (the “Bank”) (OTCQB: NJCB), announced today a reorganization of the Bank’s management structure. Chairman and Chief Executive Officer and Bank founder Robert D. O’Donnell is retiring as Chief Executive Officer of the Bank. He will remain as Chairman of the Board and an executive employee of the Bank.

The Board of Directors has formed a search committee to oversee a thorough search, with the assistance of an executive search firm, for a new President and Chief Executive Officer. In the meantime, Director William H. Placke, a seasoned bank executive, has agreed to serve as President and Chief Executive Officer of the Bank. Mr. Placke has over 47 years of experience in the banking industry. He has previously served as President and Chief Executive Officer of two separate community financial institutions, and has worked as an executive officer at a variety of insured depository institutions. 

Separately, the Bank also announced that Mr. Huell Alberty has been appointed Chief Lending Officer. Mr. Alberty has over 32 years of lending experience. Prior to joining New Jersey Community Bank in 2011, he has served as a Commercial Loan Officer of two separate community banks in the New Jersey area, and prior to that he has worked as a senior commercial lender at few other financial institutions.

New Jersey Community Bank is a community-focused commercial bank headquartered in Freehold, New Jersey with offices in Cranbury and Neptune, New Jersey. At March 31, 2015, the Bank had total assets of $129.3 million, total loans of $83.1 million and total deposits of $114.3 million.

CONTACT:

New Jersey Community Bank:
Naqi A. Naqvi
Executive Vice President & CFO
nnaqvi@njcbk.com

Source: New Jersey Community Bank

ReleaseID: 428381