Spencer Savings Bank, a community bank headquartered in northern N.J., recently announced the expansion of its Retail Bank’s Business Development group. The bank recently hired two new business development officers, Daniel Murphy and Anthony Axtmann, to meet the growing demands of the division. They will be responsible for the acquisition of new commercial deposit and lending relationships.

Both Murphy and Axtmann are seasoned banking professionals with decades of experience in the industry. Murphy joins Spencer with 23 years of banking experience and was previously employed by BCB Community Bank as a VP/Professional Services Business Banker. Prior to that, he was at Investors Bank as an AVP/ Professional Services Business Banker and Branch Manager. Axtmann has over 15 years of banking experience and was previously employed by Investors Bank as a VP/District Manager. Prior to that, he held numerous positions at the bank in Retail Sales.

“We are excited to welcome both Daniel and Anthony to the Spencer team,” said George Celentano, Senior Vice President and Head of Retail Banking. “Both men are seasoned banking professionals with strong commercial banking backgrounds. We look forward to working with them and expanding our Commercial Banking footprint within the communities that we serve.”