TOMS RIVER, N.J., July 25, 2012 /PRNewswire/ --The Board of Directors of Shore Community Bank (OTCQB:SHRC) has announced the appointment of Gary V. Lotano to serve on the Board of Directors. Mr. Lotano is President of Lotano Development, Inc., based in Toms River, NJ which is a private company established in 1987 that revitalizes and develops commercial and residential properties in Ocean and Monmouth Counties. Mr. Lotano is also affiliated with Amici Four Enterprises, Industrial Land Reclaiming, Inc., Downtown, Inc., River City Investments, Inc., Lotano/Speedy & Sons, LLC and Messina and Lotano, LLC.
Mr. Lotano has over thirty years of experience in construction and development and is owner and manager of several commercial and residential real estate properties. He has received special recognition for his foresight and hard work from Monmouth and Ocean counties and has been involved in numerous community activities and organizations, such as his current service as a Trustee for the Community Medical Center, the Barnabas Health Care System, the Business Improvement District and the Toms River Police Foundation.
Jerry Boisseau, Chairman of the Board of Shore Community Bank stated, "Gary Lotano has been an influential community leader for many years in many different venues. His commitment to the Board of Directors brings additional depth. His background and vast community involvement will assist in leading the Bank with our mission of continued growth. He will be a strong ambassador for Shore Community Bank."
Commenting on the appointment, Robert T. English, President and CEO stated, "Mr. Lotano is a well-respected business leader with a long history of service to the local community. His business experience and strong community ties will prove invaluable to the future growth of the Bank and will forward our mission to provide a broad range of financial services to individuals and businesses in Ocean County."
Shore Community Bank operates six banking offices located in Toms River, Ortley Beach, Jackson and Manahawkin, New Jersey. The Bank was founded in 1997 by a group of local business leaders with the objective of returning community based banking to the Toms River, Ocean County, New Jersey area.
Information in this release relating to Shore Community Bank's future prospects which are forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the following: (1) operating, legal and regulatory risks, such as continued levels of loan quality and origination volume, continued relationships with major customers and technological changes; (2) economic, political and competitive forces affecting our banking business, such as changes in economic conditions, especially in our market area, interest rate fluctuations, competitive product and pricing pressures within our market, personal and corporate bankruptcies, monetary policy and inflation; (3) our ability to grow internally or through acquisitions; and (4) the risk that management's analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful. Forward-looking statements may be identified by the use of words such as "expects," "believe," "will," "intends," "will be," or "would." Shore Community Bank assumes no obligation to update the forward looking information in this announcement, except as required under applicable law.
SOURCE Shore Community Bank
