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MIDDLETOWN, N.J., Jul 24, 2007 (BUSINESS WIRE) --
Community Partners Bancorp (NASDAQ symbol CPBC) has announced, effective August 1, 2007, additional steps in its management succession planning, assuring the continuity of the Bancorp's mission, strategy and long- term goals.
Barry B. Davall will retire as Chairman & CEO of Two River Community Bank, while continuing as President, CEO & Director of Community Partners Bancorp.
William D. Moss, President & Director of Two River Community Bank, will also assume the title of Chief Executive Officer of the Bank. Mr. Moss is also Vice President & Senior Loan Officer of Community Partners Bancorp.
Michael J. Gormley was named Chief Operating Officer of Community Partners Bancorp. Mr. Gormley will remain Senior Vice President and CFO of Community Partners Bancorp and Executive Vice President & CFO of Two River Community Bank and The Town Bank.
Alan B. Turner, Executive Vice President of Two River, will become the Bank's Senior Loan Officer, a position previously held by Mr. Moss.
Charles T. Parton, Chairman of Two River Community Bank and Community Partners Bancorp stated, "We are very fortunate to have this type of depth in top level management. It has allowed us to put into action a succession plan which will assure continued strength in leadership for years to come, and enable Mr. Davall to devote his time and talent to strategic initiatives and management oversight."
Community Partners Bancorp is the parent company of Two River Community Bank, based in Middletown, New Jersey, and The Town Bank, headquartered in Westfield, New Jersey.
SOURCE: Community Partners Bancorp
Media Information: Barry B. Davall, President & CEO, 732-706-9009 Community Partners Bancorp www.communitypartnersbancorp.com
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