It shuffles its executive line-up to ready itself for growth
New Jersey-based BCB Bank (BCB) has announced a major overhaul of its business, with a new leader taking the reins at its newly formed subsidiary, BCB Capital Group (BCG).
The bank has appointed Mark Noto as its new chief lending officer and David Garcia as the new executive vice president of BCG, the company’s new alternative lending subsidiary, which will be focused on short-term, value-add, and opportunistic commercial mortgage transactions.
Noto and Garcia will report to BCB president and CEO Thomas Coughlin and Ryan Blake, BCB’s senior vice president and chief operating officer. The formation of the new lending arm coincides with an increase in value-add and interim financing requests received by the bank, BCB said in its news release.
“BCB Capital will now provide our clients an enhanced ability to navigate market conditions to meet their long-term goals. This new effort further augments BCB’s reputation as an accretive, forward-thinking, innovative lender,” Garcia said.
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Garcia joined BCB in 2020 and has served as chief lending officer for two years. He brings nearly three decades of experience in the finance industry with time spent at Oritani Bank (since merged with Valley National Bank), UBS Investment Bank, and Daiwa Securities’ real estate finance group.
Meanwhile, Noto will lead all of the bank’s lending initiatives in his new role. He joined BCB from Citizens Bank, where he most recently served as head of commercial banking.
“We are very pleased to have Mark join our team. His wealth of experience in C&I lending, finance and his commitment to community banking fit BCB’s mission,” said Coughlin. “His expertise and leadership will help us map and navigate the terrain as we continue to focus on our existing customer base while creating a positive strategy that helps to bring greater clarity to business owners during these uncertain economic times.”
“My approach has always been straightforward. Listen to your client, understand their business, and give them the best solution that works for them and the bank,” Noto said. “I chose BCB because I believe I can make a positive impact. Their solid foundation in banking principles and their will to grow the business made my decision a comfortable one.”
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