Spencer News

We are proud to announce that Spencer is donating $75,000 to the American Red Cross NJ to support Hurricane Ida relief efforts. “Hurricane Ida had a devastating impact in many communities across New Jersey,” said Jose B. Guerrero, Spencer’s Chairman and CEO. “We are proud to help support our local community as they continue to …

We recently made a donation of $7,500 to Passaic County Community College (PCCC) to help provide financial support to low-income, minority students seeking higher education. The donation will be used to provide low-income students, enrolled in the Student Support Services (SSS) and PCCC Success programs, with financial emergency assistance awards. The awards are used to …

Spencer Savings Bank Honored With Financial Managers Society (FMS) Community Engagement Award We are very proud to have been recently honored with the Financial Managers Society (FMS) Community Engagement Award. The FMS Community Engagement Award has been established by the organization to recognize institutions that have answered the call of duty amidst a global pandemic …

We are proud to announce that we have distributed an additional $50,000 in grant funding, provided by the Federal Home Loan Bank of New York’s Small Business Recovery Grant Program, to small businesses and nonprofit organizations. The program supports the financial security and health of workers employed by organizations that have suffered a decrease in …

Spencer Savings Bank has awarded almost $25,000 in scholarships to high school and middle school students from 32 local schools in Bergen, Passaic, Union, Mercer, Morris and Essex counties. To date almost $500,000 has been awarded since the program first started in 2002. “As a community bank, investing in our local youth for a brighter …

Spencer Savings Bank, SLA (“Spencer”) and Mariner’s Bancorp/Mariner’s Bank jointly announced today that they have entered into a definitive stock purchase agreement pursuant to which Spencer will acquire Mariner’s Bank in an all-cash transaction. Under the terms of the agreement, Mariner’s Bank will merge into Spencer, with Spencer the surviving entity. The merger enhances and …

Among their latest major commercial customer acquisitions, Spencer is proud to announce their largest commercial deposit relationship in history – $125 million dollars with one of the country’s largest 1031 Exchange Intermediaries. “As we continue to grow our commercial business, we will continue to focus on growing long-term mutually beneficial relationships with 1031 Intermediaries,” stated …

FeedNJ, a campaign run by Soup Kitchen 411, is designed to provide restaurant prepared meals to food insecurity programs around New Jersey. In 2020, the program provided meals to 35,000 New Jerseyans all over the state. Not only do they feed those in need, but they also help provide economic relief to restaurants who have …

Spencer Savings Bank, a leading New Jersey-based community bank, is pleased to announce that President and COO Jane Allerman-Rey has been appointed a member of the New Jersey Bankers Association (NJBankers) Board of Directors. She has been elected for a two-year term. “It is an honor to be a part of the NJBankers leadership team. …

Spencer Savings Bank recently made a $2,500 donation to Eva’s Village to help feed community members. The organization’s Community Kitchen is serving to-go breakfast and lunch to over 400 individuals daily. This is in addition to serving 3 prepared meals a day to those residing in their recovery and sheltering programs. Since the COVID-19 pandemic …