New Jersey Community Bank's chairman has resigned, less than four months after he quit as chief executive of the Freehold bank.
The $132 million-asset company said Robert O'Donnell will remain on its board. William Placke, who was named interim CEO after O'Donnell stepped down in April, was named interim chairman this week.
O'Donnell's move was made effective "a couple weeks ago," said bank spokesperson Nick Naqei. New Jersey Community Bank is conducting a search for O'Donnell's full-time replacement.
The personnel moves were announced the same day that the bank reported a second-quarter loss of $41,000, or 2 cents per share, on a decline in total loans and fee income.
O'Donnell's decision to resign as chairman was not related to the bank's second quarter performance, Naqei said.