Nicholas Lorusso and Barry Minkin standing next to each other in black suits, with red ties.

Spencer Savings Bank has announced the re-election of Nicholas Lorusso and Barry Minkin to the bank’s Board of Directors, for a term of three years. The election was announced at its Annual Meeting, held at the Royal Manor in Garfield, on January 23, 2020.

“Spencer is pleased to announce the re-election of Mr. Lorusso and Mr. Minkin to our Board of Directors,” said Jose B. Guerrero, President, Chairman and CEO of Spencer Savings Bank. “Both Nicholas and Barry have stellar reputations and a strong record of successfully leading and advising companies for success. Their input and guidance throughout the years has been invaluable. We look forward to continuing to work with them and strengthening our partnership to create a long-term vision and strategy in providing the best that banking has to offer for residents and businesses in our community, securing their future. Together, we also continue our commitment to our strong philantrophic work and goals – all of which have helped to strengthen our community throughout the decades.”

Nicholas Lorusso was President of Spencer Savings Bank and is currently retired. He has been on Spencer’s Board of Directors since 1984 and has served as Chairman. He also has chaired and continues to serve as a member of other board committees.   He served on the Executive Board of Banker’s Co-Op, and serves as a member of Community Hope.

Barry Minkin has more than thirty years of corporate benefit and human resource experience in such firms as New York Blue Shield, Pirelli Cable Corporation, SCM, Western Union and The Teare Group, a benefit consulting firm. He has served as a member of the Institute for Electrical and Electronic Engineers Inc., Employee Benefits Committee, Risk and Insurance Management Society of New Jersey, and the Council of Employee Benefits and Washington Business Group on Health Care.

About Spencer Savings Bank:
Spencer Savings Bank, a leading New Jersey-based community bank headquartered in Elmwood Park, N.J., has been serving its local communities with integrity and pride for more than 75 years. The bank has over $3 billion in total assets and operates 21 financial centers throughout New Jersey. Spencer specializes in delivering premier banking products and services for consumers and businesses. Visit for more information.

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