Spencer Savings Bank names Allerman-Rey its new president

Jane Allerman-Rey has been named the new president of Spencer Savings Bank, the bank announced Monday.

Allerman-Rey, who currently serves as executive vice president and chief operating officer, will assume the position Jan. 1, 2021. She succeeds longtime colleague Jose Guerrero, who will remain as chairman and CEO.

“It is exciting to be a part of this team so dedicated to, and a leader in, community banking,” Allerman-Rey said. “Throughout my career, I have been a strong supporter of community banks and have seen firsthand the impact that they have in the communities that they serve.

“Now, with all the technological changes in banking, community banks’ importance is even more critical, because the personal contact and rapport with the customer can never be overlooked.”

Spencer Savings Bank has served New Jersey’s local communities for more than 75 years. The bank has over $3 billion in total assets and operates 20 financial centers throughout the state. Spencer specializes in delivering premier banking products and services for consumers and businesses.

Allerman-Rey came from the regulatory side of banking. She worked as a federal regulator for eight years, first with the Federal Home Loan Bank of N.Y., followed by the Office of Thrift Supervision, a department of the U.S. Treasury, which was subsequently merged into the Office of the Comptroller of the Currency. She served as an examiner and later field manager and was responsible for the examination and supervision of a group of institutions in the Northeast region.

Guerrero said her variety of experiences at the bank and in the industry made her the perfect choice.

“Jane and I have worked together for the last 27 years, and she has been an integral part of the growth and success of Spencer Savings Bank,” he said. “She has grown from her initial position as a vice president to overseeing compliance, IT, marketing, lending and retail banking.

“As chief operating officer, she is a member of the bank’s key management committees. In addition to this, she has assisted in putting together an incredible team to lead this community bank into the changing world that we now confront.”
Allerman-Rey presently serves on the boards of two nonprofit organizations:  the UCEDC, an economic development corporation servicing N.J.’s small businesses, and the Westfield Area YMCA.  Within those organizations, she serves on a number of committees, some of which include: executive, loan, finance and budget committees. She is also an active member of the Financial Managers Society, a national organization that focuses on providing education, community support, networking and professional development for finance industry members.

She is a graduate of Clemson University, where she earned a degree in finance.