Cape Bank Appoints Industry Veteran Arthur M. Birenbaum To Lead Expanding Commercial Lending Practice

CAPE MAY COURT HOUSE, N.J.--()--Cape Bancorp, Inc. (Nasdaq: CBNJ), the parent company of Cape Bank, a $1.1 billion asset bank headquartered in Cape May Court House, NJ, has announced the appointment of industry veteran Arthur M. Birenbaum, formerly of The Bancorp, to lead Cape Bank’s growing commercial lending practice.

Birenbaum has more than 35 years of experience creating, building and expanding profitable banking services, particularly to the small- and mid-sized marketplace. Prior to joining Cape Bank, he served as Executive Vice President of Commercial Lending for The Bancorp, where total assets grew organically from $75 million to approximately $4.6 billion during his tenure.

“Arthur is a dynamic business leader, as well as a trusted advisor to many of the Philadelphia region’s top entrepreneurs and real estate developers,” said Michael D. Devlin, President and Chief Executive Officer of Cape Bancorp and Cape Bank. “As Cape Bank continues its westward expansion into the Philadelphia market, his leadership will be a major asset as we focus on the growing needs of the middle market sector.”

According to Devlin, Birenbaum not only brings a wealth of knowledge and experience, but also a personal portfolio of longstanding relationships within the business community.

“Arthur has a demonstrated record of success in developing such long-term relationships and we look forward to utilizing his knowledge and leadership to better serve our customers. We welcome him to the Cape Bank team,” said Devlin.

“I am very pleased to be joining an organization that is committed to bringing a range of highly personalized business services to entrepreneurs, as well as small and mid-sized businesses,” said Birenbaum. “Philadelphia is a community that has been built by the hard work and personal efforts of entrepreneurs and small business people. I look forward to working with my colleagues at Cape Bank to bring these energetic business leaders customer-focused financial services that will help them continue to grow and prosper.”

Before joining The Bancorp in 2001, Birenbaum served at the former Jefferson Bank as Senior Vice President, Philadelphia Business Banking Lending Group, from 1992 through 2000. Subsequently he served as Co-Chairman of the Bank’s Government Lending Taskforce, coordinator of the Bank’s Asset Based lending function, and a member of Jefferson’s Loan Production Oversight Committee. During his tenure at Jefferson, he was an integral member of a team that grew total assets from $400 million to $1.8 billion at the time of the bank’s sale to Hudson United Bank in 2000.

ABOUT CAPE BANCORP, INC.

Cape Bancorp, Inc. with total assets of $1.1 billion, is the parent company of Cape Bank, a New Jersey chartered savings bank providing a complete line of business and personal banking products through its fourteen full service offices located throughout Atlantic and Cape May counties in Southern New Jersey, one drive-up teller/ATM operation in Atlantic County, and two market development offices located in Burlington County, New Jersey and in Radnor, Pennsylvania. Cape can be contacted at (609) 465-5600 or 225 North Main Street, Cape May Court House, New Jersey. To learn more about the Company, please visit www.capebanknj.com.

FORWARD LOOKING STATEMENTS

Certain statements contained herein are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks, as described in our SEC filings, and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions, which may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contacts

Cape Bancorp, Inc.
Michael D. Devlin, President & CEO
609-465-5600
or
Simon PR
Thomas Derr, 215-545-4715 x29
215-620-7723 (cell)
tderr@simonpr.com

Release Summary

Cape Bank appoints Arthur M. Bierenbaum to lead commercial lending practice

Contacts

Cape Bancorp, Inc.
Michael D. Devlin, President & CEO
609-465-5600
or
Simon PR
Thomas Derr, 215-545-4715 x29
215-620-7723 (cell)
tderr@simonpr.com