Bancorp of New Jersey's (NYSEMKT:BKJ) talented CEO died in 2013, effectively derailing the stock. Since hitting a high in August, shares have fallen 15%, grossly underperforming the regional bank index (NYSEARCA:KRE) by 2600 basis points. The reaction is understandable: Founding chairman and chief executive Albert Buzzetti mentored the bank through a powerful growth spurt, expanding BKJ from 1 to 9 offices in only 8 years. Although his death is a loss for the company, I believe the bank will continue to deliver strong growth and represents an attractive entry point.
First, the board was well-prepared for the succession, appointing Michael Lesler the bank's new CEO within a week of Buzzetti's passing. Lesler has been with BKJ...
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