Amboy's chairman and CEO dies unexpectedly

George Scharpf, chairman and CEO of Amboy Bancorp. in Old Bridge, N.J., has died.

The $2.4 billion-asset bank said in a press release Monday that Scharpf's passing on Friday was unexpected. He had just turned 78.

The bank named Joseph DiSepio, its vice chairman, to succeed Scharpf as chairman. Gregory Scharpf, Amboy’s chief operating officer, succeeded his father as president and CEO.

Scharpf began his career at Amboy in 1969 when the bank had $39 million in assets. He had been CEO since 1981.

“He led by example — at the bank, in the community and at home,” Gregory Scharpf said in the release. "Clients appreciated his advice, but valued his old-school banker style even more.”

Amboy said it will hold a special event in coming days to celebrate the elder Scharpf's life.

George Scharpf

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