FOR IMMEDIATE RELEASE
November 16, 2017
Capital Bank Contact:
David J. Hanrahan
Capital Bank of New Jersey Appoints James R. Haefele, CPA as Director
Vineland, NJ (11/16/2017) - Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced today the appointment of James R. Haefele, CPA to its Board of Directors.
Haefele is a partner at Haefele Flanagan, a public accounting and consulting firm in Maple Shade, New Jersey. In addition to being a Certified Public Accountant, he is Accredited in Business Valuation and is a Master Analyst in Financial Forensics. When not serving the wide professional needs of his clients, Haefele is active in the community. He coaches youth sports and serves as Treasurer for the Legacy Foundation, which supports Legacy Treatment Services in Hainesport, New Jersey.
Capital Bank Chairman of the Board Dominic J. Romano commented, 'The Board welcomes Jim as a Director. We know that his business and financial acumen will benefit Capital Bank. We are also confident that with his extensive South Jersey connections he will be able to assist us with our business development efforts throughout our market.'
Haefele remarked, 'I've known the commercial lending team at Capital Bank for quite some time. It's a high-quality organization that I'm proud to be associated with. And its recent opening of a Loan Production Office in Marlton is a demonstration of the bank's commitment to be an active lender to businesses in Camden and Burlington counties.'
Capital Bank is a nearly-$500 million community bank which opened for business in 2007. It has five locations - two in Vineland, one in Woodbury Heights, one in Hammonton, and its newly-opened Marlton Loan Production Office. In 2017 Capital Bank was, for the third consecutive year, named as one of American Banker's Top 200 Community Banks in the United States. For more information about Capital Bank, please visit www.capitalbanknj.com.
Haefele Flanagan, founded in 1967, is a full service consulting, accounting, auditing, and tax service firm. In addition to being a member of the AICPA, the NJSCPA and PICPA, the firm is an independent member of the PCAOB and CPA Associates International Inc. - a consortium of 130 select independent CPA firms with members in major cities in the United States as well as international associates in 60 countries around the world. For more information, visit www.hfco.com.
James R. Haefele, CPA
FORWARD LOOKING STATEMENTS
The Bank may from time to time make written or oral 'forward-looking statements', including statements contained in this release. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions. Actual results may differ materially from such forward-looking statements, and no undue reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, unanticipated changes in the financial markets and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; stronger competition; insufficient allowance for credit losses; a higher level of net loan charge-offs and delinquencies than anticipated; material adverse changes in the Bank's operations or earnings; a decline in the economy in our primary market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume; changes in laws and regulations, including issues related to compliance with anti-money laundering and the bank secrecy act laws; adoption, interpretation and implementation of new or current financial or regulatory accounting pronouncements; operational risks, including our ability to fund the loans in our pipeline; the risk of fraud by employees and customers; the inability to successfully implement new lines of business or new products and services; and other factors, many of which are beyond the Bank's control. The words 'may', 'could', 'should', 'would', 'believe', 'anticipate', 'continue', 'estimate', 'expect', 'intend', 'plan', 'will', 'project', 'take' and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Bank pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. The Bank does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Bank.