BCB Bancorp in N.J. hires veteran turnaround expert as new CEO

Tom O’Brien can’t quit banking.

The veteran turnaround artist has agreed to become the president and CEO of BCB Bancorp in Bayonne, N.J. The company said in a press release that O’Brien, 75, will also join its board.

O’Brien was chairman, president and CEO of Sterling Bancorp, orchestrating the sale of most of its banking operations. He also turned about and sold Sun Bancorp in New Jersey and was CEO of State Bancorp from 2006 to 2012.

BCB parted ways with former CEO Michael Shriner last month. In January, the company disclosed that it would record a $15.1 million pretax writedown tied to an “isolated” cannabis-related real estate owned property.