Spencer Bank Welcomes New Executives

Spencer Savings Bank recently welcomed two new executives and also congratulated a Rising Star honoree bestowed by the New Jersey Banking Association.

In the bank’s Small Business Finance division, Milena Bosak was named Vice President, Small Business Relationship Manager. The division provides small business lending and deposit products to clients across New Jersey.

Milena Bosak

“We are pleased to welcome Milena to our Small Business Finance team,” “Milena is passionate about developing strong relationships with our business clients and is focused on providing a superior client experience. We look forward to her partnership in helping us serve our business banking and business lending clients, ensuring our New Jersey business community continues to grow and prosper,” said Sergio Musacchio, Senior Vice President and Director of Commercial and Industrial Lending and Small Business Finance.

Michael Claisse

Michael Claisse was recently promoted to Executive Vice President and Chief Lending Officer, where he will assume leadership responsibilities across all residential, consumer and commercial lending areas as well as oversee the loan portfolio management and loan operation functions.

“Michael has been an essential member of the Spencer Savings Bank team since he joined the bank in 2018. His proven leadership, expertise in lending and commitment to customer excellence will continue to drive our company’s future success,” said Jose Guerrero, Chairman and CEO.

Bosak brings almost 20 years of banking industry experience to Spencer’s Small Business Finance division. Prior to joining Spencer, she held various leadership positions at national and regional financial institutions in New Jersey.

Claisse joined the bank as Director of Commercial Real Estate Lending where he managed the bank’s Commercial Real Estate department and was responsible for growing the portfolio while maintaining excellent credit quality. is a seasoned banking executive with over 30 years of industry experience. He has a strong background in real estate equity and finance products and held senior positions at several banks. He is frequently a speaker and panelist at national lending conferences and seminars.