Spencer News

Spencer Savings Bank is pleased to announce the appointment of Farrukh Qureshi as Vice President and Director of Internal Audit. In his new role, Qureshi will report to the Audit and Risk Committee of the board of directors. With over 25 years of experience in the financial services industry, Qureshi has a strong background in …

Spencer Savings Bank, a leading New Jersey-based community bank, donated $10,000 to the Research & Development (R&D) Council of New Jersey to help support their Governor’s STEM Scholars program. The students also enjoyed a great personalized event that featured a tour of the bank and dinner with senior management team members. The two scholars were …

Spencer Savings Bank is pleased to welcome Joseph Murphy as Vice President and Controller. Mr. Murphy will lead the accounting team in financial reporting, accounting operations, budgeting, profitability management and monitoring. He will oversee accounting controls in accordance with accounting and regulatory standards. “We are excited to welcome Joe to the Spencer team, and we …

Spencer Savings Bank, one of New Jersey’s leading community banks, is pleased to welcome Yuber Calzadilla as the new Financial Center Manager of Spencer Savings Bank’s Hackensack location. The financial center is located at 240 Essex Street in Hackensack, NJ. Yuber is responsible for leading and managing customer relationship development, local community engagement and the …

Spencer Savings Bank, one of New Jersey’s strongest community banks, is pleased to welcome Sergio Musacchio as Senior Vice President and Director of Small Business Finance. Musacchio will be overseeing the bank’s Small Business Lending division where he will implement new small business lending and deposit products while ensuring the bank’s strong credit culture is …

Introduction In the latter half of 2022 and the first half of 2023, the Federal Reserve embarked on an unprecedented rate hike cycle, raising interest rates from a historic low of 0.25% to 5.25%, in just 12 months. This aggressive monetary policy move, the fastest rate increases since the 1980s, has reverberated across financial markets …

Spencer Savings Bank, one of New Jersey’s leading community banks, is preparing to open a new financial center in Edison, NJ. The new financial center is anticipated to open in December and will be located at 3900 Park Ave. (Ste. 108). The Edison location is one of 27 full-service Spencer Savings Bank financial centers located …

Spencer Savings Bank, one of New Jersey’s leading community banks, is pleased to welcome Kama Patel as the new Edison Assistant Financial Center Manager. The financial center, located at 3900 Park Avenue, recently opened its doors to the Edison community. Kama will be responsible for providing exceptional customer service while attending to customers’ banking needs …

Spencer Savings Bank, one of New Jersey’s leading community banks, is pleased to welcome Jorge Garcia as the Financial Center Manager of its new Edison location. The financial center, located at 3900 Park Avenue, opened its doors to the Edison community this week. Garcia is responsible for leading and managing customer relationship development, local community …

The Senate and General Assembly of the State of New Jersey recently recognized Spencer Savings Bank, highly esteemed throughout the Garden State, for promoting academic excellence through its scholarship program. Assemblyman Gary S. Schaer recently visited the bank to present Jose B. Guerrero, Spencer’s CEO and Chairman, and the Executive Management team with the Proclamation …