American Bancorp of New Jersey, Inc. Announces Director Retirement.BLOOMFIELD, N.J. -- American Bancorp of New Jersey, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ABNJ ABNJ American Bancorp of New Jersey, Inc ) ("American") announced today that Stanley Obal, 85, a director of the Company and its subsidiary bank, American Bank of New Jersey for 26 years, retired effective today. Fred G. Kowal, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Company, said: "Mr. Obal has provided valuable guidance and dedicated service to the Company and the Bank for 26 years. We all wish him the best in his retirement." The Company also announced that it amended its bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an to reduce the number of directors from eight to seven to reflect the retirement of Mr. Obal. As of June 30, 2007, the Company had consolidated total assets of $562.2 million and stockholders' equity of $106.0 million. The Bank is a federally chartered stock savings bank which conducts business from its main office in Bloomfield, New Jersey and its branch offices located in Cedar Grove, Verona, Nutley and Clifton, New Jersey Clifton is a city in Passaic County, New Jersey, United States. As of the United States 2000 Census, the city had a total population of 78,672. Clifton was incorporated as a city by an Act of the New Jersey Legislature on April 26, 1917, replacing Acquackanonk Township, . The foregoing material contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 concerning our financial condition, results of operations and business. We caution that such statements are subject to a number of uncertainties and actual results could differ materially, and, therefore, readers should not place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. |
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