Roselle Savings Bank announced that CEO and President Jill G. Schafhauser will be retiring, effective Friday.
The Roselle-based bank said that Detlef “D” Felschow, current executive vice president and chief operating officer, will assume the role of CEO and president.
Schafhauser had a 46-year banking career with Roselle Savings Bank, including 16 years as its CEO and president.
“I know this sounds like a cliché, but it seems like only yesterday when, as a child, I would accompany Mom to the bank for various functions. Time really flies by, but I can honestly say that I have enjoyed every minute of my career here at Roselle Savings Bank. I’m going to miss our employees, our customers and our business associates immensely,” Schafhauser said in a statement.
Schafhauser said she will remain as an active member of the bank’s board of directors.
The bank has locations in Roselle, Cranford, Bernardsville and High Bridge.
“We are sad to see Jill go, but know that she will not be far away as she continues to serve on the bank’s board of directors. When you think about her 46-year career, Jill exemplifies what dedication, loyalty and service to the bank, customers and community is all about. She also truly cared about each and every one of her employees,” William E Fredericks, chairman of the board, said in a statement.
He added, “With Detlef Felschow as our new president and CEO, we are extremely confident that our bank and our customers remain in very capable hands. ‘D’ is an experienced and thoroughly knowledgeable banking executive. His strategic vision and solid banking expertise will reinforce our mission, further strengthen our community competitive edge, and help us to remain poised for growth well into the future.”
Felschow has been with the bank for two years. Prior to joining Roselle Savings Bank, he was the senior vice president and chief operating officer of Hilltop Community Bank. Before that, he was senior vice president, retail banking at The Ramapo Bank.