Murphy named controller of Spencer Savings

Joseph Murphy has been named vice president and controller of Spencer Savings Bank, the bank announced last week.

Murphy will lead the accounting team in financial reporting, accounting operations, budgeting, profitability management and monitoring. He will oversee accounting controls in accordance with accounting and regulatory standards.

Chief Financial Officer Steve Fusco welcomed Murphy to the team.

“We are excited to welcome Joe to the Spencer team, and we all look forward to working with him,” he said. “Joe is a strong leader with extensive financial expertise and strong communication skills. He also has a passion for supporting and developing talent. We look forward to collaborating with him in continuing to drive our business forward.”

Murphy has a decade of accounting and finance industry experience.

Murphy, who has held past leadership positions for public and mutual banks, earned a B.S. in business from Virginia Tech. In 2024, he will be the incoming president for the Financial Managers Society of New York/New Jersey.

Spencer Savings Bank, a leading New Jersey-based community bank, has been serving its local communities for more than 100 years. The bank has about $4 billion in total assets and operates 27 financial centers throughout the state.