Township Resident Hired As Bank Vice President

Township resident Phillip Malavarca, Brian Bacha, and Owen McKenna, left to right, have all joined Spencer Savings Bank as Vice Presidents, Business Development Officers and will work to maximize opportunities for the bank in this rapidly-growing market. Photo: Spencer Savings Bank.

Elmwood Park –A township resident is among three business development officers recently hired by Spencer Savings Bank.

Philip Malavarca comes to Spencer Savings Bank with 15 years of commercial lending experience, according to a press release from the bank. Prior to joining Spencer, Malavarca served as a commercial loan officer for Tinton Falls-based Two River Bank.

Also hired were Brian Bacha of Wyckoff and Owen McKenna of Keansburg, according to the release.

“We are very excited to have just completed a very strong year of commercial loan production at Spencer,” John C. Duncan, Spencer’s senior vice president and senior lending officer, said in the release. “Spencer has experienced strong growth in its commercial lending portfolio.”

“We welcome these gentleman onto the team and are very confident they will deliver further growth for the bank,” he said in the release. “Their character and broad commercial experience make them great additions.”

Spencer’s loan portfolio now exceeds $2 billion, according to the release.


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