FORT LEE, N.J., Dec. 19, 2013 (GLOBE NEWSWIRE) -- Bancorp of New Jersey, Inc. (NYSE MKT:BKJ), the holding company of Bank of New Jersey, today announced that its Board of Directors has appointed Michael Lesler as President and Chief Executive Officer, effective immediately. Mr. Lesler has served as the President and Chief Operating Officer of the Company and the Bank since June 2009, and is Vice Chairman of the Board of Directors. He served as Executive Vice President and Chief Financial Officer from the Bank's inception through June 2009.
Albert F. Buzzetti, who had served as Chairman of the Board and Chief Executive Officer of the Company and the Bank since their inception, passed away on December 13, 2013.
Mr. Lesler has been an officer of the Company and the Bank since their inception. Mr. Lesler's performance as President demonstrated to the Board that he is well qualified for his new position and for leading Bank of New Jersey forward.
In connection with Mr. Lesler's promotion, the Board of Directors also appointed Richard Capone as Senior Vice President and Chief Financial Officer of the Company and the Bank, effective immediately. Mr. Capone has served as a Senior Vice President and the Controller of the Bank since August 17, 2009.
Bank of New Jersey, headquartered at 1365 Palisade Avenue, Fort Lee, New Jersey, offers convenient hours and a high level of service for traditional consumer and commercial products and services. The Bank, currently, has 9 branch offices located in Fort Lee (3 locations), Hackensack, Haworth, Harrington Park, Englewood, Cliffside Park and Woodcliff Lake. A tenth location, in Englewood Cliffs, NJ, has received regulatory approvals from the FDIC and the NJDOBI. All locations are in Bergen County, NJ.
For more information about Bank of New Jersey and its products and services, please visit http://www.bonj.net or call 201-944-8600.
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This press release and other statements made from time to time by Bancorp of New Jersey's management contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include economic conditions affecting the financial industry; changes in interest rates and shape of the yield curve; credit risk associated with our lending activities; risks relating to our market area, significant real estate collateral and the real estate market; operating, legal and regulatory risk; fiscal and monetary policy; economic, political and competitive forces affecting our business; and that management's analysis of these risks and factors could be incorrect, and/or that the strategies developed to address them could be unsuccessful. Any statements made that are not historical facts should be considered to be forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate, whether as a result of new information of future events, except as may be required by applicable law or regulation.
Bancorp of New Jersey, Inc.
Fort Lee, New Jersey, UNITED STATES
Day's Range: 13.25-13.44
Previous Close: 13.49
Market Cap: 71.17M
Day's Volume: 6,000