SOURCE: New Jersey Community Bank

New Jersey Community Bank

February 16, 2012 17:13 ET

New Jersey Community Bank Promotes Naqi "Nick" A. Naqvi to Executive Vice President

FREEHOLD, NJ--(Marketwire - Feb 16, 2012) - New Jersey Community Bank (OTCBB: NJCB) (the "Bank"), today announced that Nick Naqvi has been promoted to Executive Vice President and Chief Financial Officer. Naqvi, who previously served as Senior Vice President and Chief Financial Officer, will continue to oversee all of the Bank's accounting, finance and investment functions, along with shareholder relations and benefits administration. Since joining the Bank two years ago, Naqvi has played a critical role in the Bank's exceptional performance.

"Nick brings a wealth of managerial experience to our executive ranks. His experience in managing core finance and accounting functions at a variety of financial institutions will be especially valuable as we enter next phase of our growth at the Bank," said Chairman and CEO Robert D. O'Donnell. "We are thrilled to have him serve as a valued partner to the executive team in making strategic decisions."

Naqvi brings to the Bank over 30 years of experience in community banking. Prior to joining the Bank in early 2010, he has held a number of senior management roles at financial institutions including Greater Community Bancorp, Carver Bancorp, and Village Bank of South Orange. Nick started his career at First Virginia Bank before joining Village Bank in 1983. He then joined Greater Community Bancorp in 1986 as Treasurer and elevated to SVP and CFO during his 22 years of service with them. While at Greater Community Bancorp, he also served as SVP and Chief Audit Executive and was a member of the Institute of Internal Auditors. He is a graduate of Virginia Commonwealth University with major in accounting and finance.

"On behalf of the Board of Directors and myself, I congratulate Nick on his promotion," concluded Mr. O'Donnell.

About the Bank
New Jersey Community Bank is a state-chartered commercial bank headquartered in Freehold, New Jersey. The Bank opened for business in July 2008 and operates three full-service banking offices in the central New Jersey counties of Monmouth and Middlesex. The Bank provides traditional commercial and retail banking services to small businesses and consumers. For additional information about New Jersey Community Bank, please visit www.njcbk.com or call 732-431-2265.

Forward-Looking Statements
This release contains forward-looking statements relating to present or future trends or factors affecting the banking industry, and specifically the financial condition and results of operations, including without limitation, statements relating to the earnings outlook of the Bank, as well as its operations, markets and products. Actual results could differ materially from those indicated. Among the important factors that could cause results to differ materially are interest rate changes, change in economic climate, which could materially impact credit quality trends and the ability to generate loans, changes in the mix of the Bank's business, competitive pressures, changes in accounting, tax or regulatory practices or requirements, resolution of tax reviews, and those risk factors detailed in the Bank's periodic reports. The Bank undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.

Contact Information

  • Contact at New Jersey Community Bank:

    Robert D. O'Donnell
    Chairman and CEO
    rodonnell@njcbk.com

    3441 Route Nine North
    Freehold, New Jersey 07728
    (732) 431-2265
    Fax (732) 303-1831
    www.njcbk.com