BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding
company for BCB Community Bank (the “Bank” or “BCB”)), today
announced that Michael A. Shriner has been named President and
Chief Executive Officer of BCB Bancorp and BCB Community Bank,
effective January 1, 2024. Retiring President and Chief Executive
Officer Thomas M. Coughlin, 63, will continue to serve on the
Company’s Board of Directors.
Mr. Shriner, a 35-year veteran of banking, was
formerly President and Chief Executive Officer of Millington, New
Jersey-based MSB Financial Corp. and Millington Bank prior to being
acquired by Kearny Bank. Under his leadership, he converted
Millington Bank from a mutual holding company structure to a fully
public institution through a Second Step Conversion. Mr. Shriner
joined Millington Bank in 1987 and held various commercial and
corporate banking positions, including that of Chief Operating
Officer and Board Member prior to his promotion to President and
Chief Executive Officer in 2012. Most recently, he held the role of
Market President for Kearny Bank, where he transitioned legacy
Millington Bank customers to Kearny Bank following the merger
acquisition. Mr. Shriner holds an Associate of Arts Degree in
Business Administration from the University of New Hampshire and is
a Graduate of The National School of Banking, Fairfield
University.
“Michael Shriner’s success in leading a growing
franchise will most certainly be an asset to our management team as
BCB continues to expand,” said Mr. Mark D. Hogan, Chairman of the
Board. “His knowledge of banking, finance, credit administration
and risk management is exceptional. Michael has an established
record of building a high-performance banking culture and
results-driven profitability management. The Board and management
are excited about the expertise, energy and professionalism that
Michael brings to our organization.”
“BCB is committed to providing superior banking
services to businesses and individuals in the community. I am
excited to join and lead a team of professionals that delivers that
commitment,” said Mr. Shriner. “I am confident we are building a
great team that is capable of growing our business banking model
and maximizing shareholder returns as we capitalize on
opportunities taking place within the banking industry.”
Mr. Coughlin has been with the Bank since its
inception, most recently serving as President and Chief Executive
Officer of BCB Community Bank and BCB Bancorp since 2014. Believing
that Bayonne was underserved by community banks, Mr. Coughlin,
along with the support of local investors, founded Bayonne
Community Bank in 2000.
“Tom Coughlin’s leadership and dedication are
evident in the success BCB has experienced during his tenure,” said
Mr. Hogan. “On behalf of the Board of Directors, I want to express
our sincere appreciation to Tom for the leadership and guidance
that he has provided.”
“It is an honor to have served BCB for almost 23
years,” said Mr. Coughlin. “Throughout my career, I have been
fortunate to work with an outstanding group of banking
professionals, and I am extremely proud of what we have
accomplished together. BCB Bank has always maintained a strong
commitment to serve our customers, communities, shareholders and
employees.”
About BCB Bancorp, Inc.
Established in 2000 and headquartered in
Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of
BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has 28 branch offices in
Bayonne, Edison, Hoboken, Fairfield, Holmdel, Jersey City,
Lyndhurst, Maplewood, Monroe Township, Newark, Parsippany,
Plainsboro, River Edge, Rutherford, South Orange, Union, and
Woodbridge, New Jersey, and four branches in Hicksville and Staten
Island, New York. The Bank provides businesses and individuals a
wide range of loans, deposit products, and retail and commercial
banking services. For more information, please go to
www.bcb.bank.
Forward-Looking Statements
This release, like many written and oral
communications presented by BCB Bancorp, Inc., and our authorized
officers, may contain certain forward-looking statements regarding
our prospective performance and strategies within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. We intend
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and are including this
statement for purposes of said safe harbor provisions.
Forward-looking statements, which are based on certain assumptions
and describe future plans, strategies, and expectations of the
Company, are generally identified by use of words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “plan,” “project,”
“seek,” “strive,” “try,” or future or conditional verbs such as
“could,” “may,” “should,” “will,” “would,” or similar expressions.
Our ability to predict results or the actual effects of our plans
or strategies is inherently uncertain. Accordingly, actual results
may differ materially from anticipated results.
In addition to factors previously disclosed in
the Company’s reports filed with the U.S. Securities and Exchange
Commission (the "SEC") and those identified elsewhere in this
release, the following factors, among others, could cause actual
results to differ materially from forward-looking statements or
historical performance: the inability to close loans in our
pipeline; changes in asset quality and credit risk; the inability
to sustain revenue and earnings growth; changes in interest rates
and capital markets; inflation; supply chain disruptions; any
future pandemics and the related adverse local and national
economic consequences; civil unrest in the communities that the
company serves; customer acceptance of the Bank’s products and
services; customer borrowing, repayment, investment and deposit
practices; customer disintermediation; the introduction,
withdrawal, success and timing of business initiatives; competitive
conditions; economic conditions; and the impact, extent and timing
of technological changes, capital management activities, and
actions of governmental agencies and legislative and regulatory
actions and reforms.
Contact: |
Pam
SclafaneVice President,
Marketing201.823.0700, ext.
2038psclafane@BCB.Bank |
Ryan
BlakeChief Operating
Officer201.823.0700, ext.
2076rblake@BCB.Bank |
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/995ef873-3342-47d5-86d7-7775c7fd4991
BCB Bancorp (NASDAQ:BCBP)
Historical Stock Chart
From Apr 2024 to May 2024
BCB Bancorp (NASDAQ:BCBP)
Historical Stock Chart
From May 2023 to May 2024