Northeast Community in N.Y. Splits CEO, President Titles

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

Northeast Community Bancorp (NECB) in White Plains, N.Y., has promoted Jose Collazo to become its president.

Collazo, who remains Northeast Community's chief operating officer, succeeded Kenneth Martinek, effective immediately, the $470 million-asset company said in a press release Friday. Martinek remains the company's chairman and chief executive.

Northeast Community said that splitting the roles will allow Martinek to focus more on the company's strategic direction and governance, while overseeing efforts to improve the loan portfolio. Martinek said an increased regulatory burden from the Dodd-Frank Act also influenced the decision.

"It's really difficult to have your hand in the day-to-day operations and still keep an good handle on the regulatory requirements and on changes to the regulations," Martinek said in the release. "This will really allow me to focus more on the overall governance. I will still keep an eye on loan-portfolio origination and things like that, but my role will really be to guide the bank and help it grow."

Northeast Community has spent recent years focusing on its expansion into Massachusetts.

JOIN THE DISCUSSION

SEE MORE IN

'The Law Penalizes the Consumers It Set Out to Protect': Comments of the Week

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.

(Image: Fotolia)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
TWITTER
FACEBOOK
LINKEDIN
Already a subscriber? Log in here
Please note you must now log in with your email address and password.