The Future of Community Bank Mergers
By:
Robert E. Kafafian
Sharon J. Lorman
Richard B. Trauger, Jr.
Guest: James S. Vaccaro , President and CEO Manasquan Bank
Podcast Show Notes:
Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking news that happened this month. TMIB will be available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute or at your desk.
Topic: The Future of Community Bank Mergers
Start time: 1:40
Is a merger in your future? In this podcast Jim Vaccaro, CEO of Manasquan Bank, gives his perspective on what it takes for a community bank merger to be successful and the importance of culture in community bank merger decisions. Jim is the President and CEO of $1.3 billion Manasquan Bank which announced a merger with $259 million Metuchen Savings Bank in May 2018. Jim previously served as Chairman, President and CEO of Central Jersey Bancorp, parent company of Allaire Community Bank and Monmouth Community Bank, which he helped found. Central Jersey Bancorp was acquired by Kearny Federal Savings Bank (MHC) in 2010. Join us for a discussion of the future of community banking and how it takes more than numbers to create a successful merger!
About James S. Vaccaro
James S. Vaccaro is Chairman, President and Chief Executive Officer of Manasquan Bank, a $1.3 billion-dollar mutual banking organization founded in 1874. Manasquan Bank currently operates from ten offices and branches located in Monmouth and Ocean Counties, New Jersey.Prior to joining Manasquan in 2012, Mr. Vaccaro served as executive vice president and chief operating officer for SpringPoint Senior Living, New Jersey’s leading provider of not-for-profit senior house and healthcare.While he has worked in other fields, the majority of Mr. Vaccaro’s career has been as a leader within the banking profession, with more than thirty years of experience in the industry.He served as chairman, president and CEO of Central Jersey Bancorp, parent company of Allaire Community Bank and Monmouth Community Bank, which he helped found in 1998. From 1982 to 1995, Mr. Vaccaro was employed by Central Jersey Bank and Trust Company and served in various capacities including executive vice president, treasurer, CFO and member of the board of directors.A leader in both civic and philanthropic organizations, Mr. Vaccaro is a member of the Board of Trustees of Monmouth University, RWJ/ Barnabas Health and a member of the Board and former Chair of Monmouth Medical Center. He is former Chairman of the Board for Visiting Nurses Association of Central New Jersey, is on the advisory board of Interfaith Neighbors and the leadership council of Prevention First. He is the former Chair of the Board of Directors for the New Jersey Bankers Association and is a member of the Board of Directors of Four Springs Capital, LLC.In 2013 Mr. Vaccaro was the recipient of the Monmouth University Distinguished Business Leader Award and in 2007 the Long Branch Chamber of Commerce honored Mr. Vaccaro with the Louis G. Libutti Community Service award for exceptional leadership, professional achievement and stellar record of community service.Mr. Vaccaro received a BS in economics from Ursinus College and earned a PMD certification from Harvard Graduate School of Business.
Watch for episode 32 of This Month in Banking to be released on Wednesday, August 29, 2018 and a new episode on the last Wednesday of every month.
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