Jay M. Ford to Retire




Jay M. Ford to Retire as Crest Savings Bank's President and CEO; Anthony DeSalle Named as Successor

WILDWOOD, November 27, 2017 – Today the Board of Directors at Crest Savings Bank announced that Jay M. Ford, President and Chief Executive Officer, will retire effective January 3, 2018. To ensure a smooth and successful transition, Ford will continue as a member of the Board of Directors upon his retirement. Anthony DeSalle, currently Senior Vice President and Chief Financial Officer, will assume the role of President and Chief Executive Officer as of January 3, 2018 and will also become a member of the Board of Directors.

Mr. Ford’s decision to retire will serve as the culmination of 50 years of banking experience in the financial services industry with 25 years of distinguishedJay and Tony service as President & CEO at Crest Savings Bank. During his tenure Mr. Ford grew the Bank’s assets from $60 million to $480 million and administered numerous new technologies to enhance the banking experience.

"I am grateful to have spent 25 years with Crest Savings Bank, and deeply honored to have had the opportunity to watch the Bank grow under my tenure. I am very proud of our continued success as the premier community bank in Cape May County and of the advances we have made to serve the evolving needs of our customers," said Ford.

Chairman of the Board, Frank Colson, stated, "On behalf of Crest Savings Bank’s Board of Directors, we extend our deep gratitude to Jay for his distinguished service and immeasurable contributions over the years. He has been a strong and valued leader as our President & CEO and we are grateful for the legacy of success established under his leadership."

The Board has worked on the leadership succession plan over the past several years. According to Chairman, Frank Colson, "Throughout this process, we have come to realize the importance of selecting a candidate that shares our vision for the Bank’s continued success. In October, the Board of Directors unanimously approved Anthony DeSalle to be the next President and Chief Executive Officer. We recognize the scope of DeSalle’s industry knowledge and the strong interpersonal skills that make him a natural leader. We are confident this is the right choice for the future of Crest Savings Bank."

DeSalle joined Crest Savings in 2014 as Chief Financial Officer. He holds a BS in Economics from The Wharton School of the University of Pennsylvania, an MBA from Villanova University School of Business, and is a Certified Public Accountant. DeSalle has had an instrumental role on the Senior Management Team since he joined the Bank. Mr. Ford stated, "For several years I have had the opportunity to work closely with Tony and he is one of the most talented individuals that I have had the opportunity to work with. I have full confidence in his ability to lead the Company."

"I am humbled and excited by this opportunity to lead Crest Savings Bank. It has been an honor to work with Jay. His counsel extends beyond traditional banking principles. He has been a leader with the highest ethical standards who cares deeply about the Bank’s employees." said DeSalle. "As incoming CEO, I’m eager to maintain the Bank’s strong community foundation. With the support of the Bank’s Board, management and employees, I look forward to building on Jay’s legacy and to leading this company to even higher levels of achievement in the years to come in this constantly changing banking environment."

Crest Savings Bank has been a vital institution in the Wildwoods since September 19, 1919. It was originally established to provide mortgages to the growing population of the island. Over the years its products and services expanded, locations changed and its name evolved and in October, 2000 it changed to its current name, Crest Savings Bank. The Bank prides itself on offering a full line of big bank financial products including a wide range of commercial and small business loans including acquisition, facility expansion, refinance and lines of credit, residential loans, deposit and wealth management services with the personal touch you expect at a community bank. Additional information about Crest Savings Bank is available at www.crestsavings.bank.


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