Capital Bank Announces Officer Changes;
Reports Record First Quarter Earnings
Vineland, NJ (4/30/2014) – Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced several officer changes at its April 29 Annual Stockholders Meeting.
Anthony J. Altadonna, Capital Bank’s Chief Lending Officer, will be retiring effective June 13, 2014. “Tony was part of my initial team which launched Capital Bank in 2007,” said David J. Hanrahan, Sr., President and CEO. “Our loan growth, credit quality and lending reputation are outstanding. No one deserves more credit for those accomplishments than Tony.”
“Seven years ago Tony left his secure position to join us because he believed in Capital Bank’s potential,” added Dominic J. Romano, Chairman of the Board. “Our bank and our stockholders owe him a debt of gratitude for all his positive impact on our institution. We will miss him, and we wish him the best in his well-earned retirement.”
Altadonna’s banking career spanned 40 years, including the first 10 as a bank examiner for the FDIC.
Joseph F. Rehm, Senior Vice President, will be promoted to Executive Vice President and Chief Lending Officer effective June 13. “Joe was also part of the initial team that opened Capital Bank in 2007,” said Hanrahan. “He has worked hard to deserve this promotion, and has my and the Board’s full confidence. “
Rehm resides in Clayton and is a life-long South Jersey resident. He has been employed in commercial lending for over 15 years. He graduated from the Stonier Graduate School of Banking and Wharton Leadership Program in 2013. Rehm actively serves on the boards of several local organizations, including the Gloucester County Chamber of Commerce (Vice Chair), the Gloucester County YMCA (past President), and the Construction Finance Managers Association of South Jersey (Secretary).
Capital Bank also announced that it has hired Brian Timberman as Vice President, Gloucester and Salem County Market Manager. Rehm said “Dave and I, along with several other members of our team, have known Brian for a long time and have worked with him before. He is an excellent commercial lender, and he is a great addition to our lending team.”
Timberman has been a South Jersey banker for nearly 30 years, and over his career worked for institutions including Susquehanna Bank and Fulton Bank of New Jersey. He resides in Pittsgrove Township. He currently serves as Chairman of the Salem County Vo-Tech School Educational Foundation and as Vice Chairman of Memorial Hospital of Salem County.
Capital Bank also announced at its Annual Stockholder Meeting that it had record first quarter earnings of $815,000 for the three months ended March 31, 2014, an increase of $132,000 (19.4%) compared to the first quarter of 2013.
At the meeting all eleven of the bank’s directors were overwhelmingly re-elected by its stockholders.
In addition to Romano and Hanrahan, Capital Bank’s directors are David F. Arena, John J. DiDonato, Daniel Falasca, William J. Hallissey, Harry E. Hearing, Daniel R. Kuhar, Salvatore A. Pipitone, Patricia Pilone and George H. Stanger, Jr.