Elizabeth E. Hance

Elizabeth E. Hance is President and Chief Executive Officer of Magyar Bank, a community oriented financial institution headquartered in New Brunswick, NJ.

Ms. Hance first started with Magyar as a summer intern, and it was during this opportunity that she developed a passion for community banking that is still very evident in her today. Upon graduating college, Ms. Hance officially joined Magyar taking a position in the Bank’s Residential Lending Department. Over the years, Ms. Hance has held numerous positions at the Bank including Executive Vice President and COO from 2003-2004, Executive Vice President and CFO from 1990-2002, and Controller from 1986-1989. She has served as the Bank’s President & Chief Executive Officer since January 2005, overseeing the Bank’s initial public offering in January 2006.

Ms. Hance’s passion for community banking extends far beyond her professional accomplishments. Today, she is affiliated with numerous organizations that share her same commitment to the communities where she works and lives. Ms. Hance is on the Board of Trustees of the Children’s Specialized Hospital, United Way of Central Jersey, George Street Playhouse, American Hungarian Foundation, and New Brunswick Tomorrow. She also serves on numerous committees for each of these organizations, and is on the Fifth Anniversary Gala Planning Committee for My Daughter’s Keeper, Inc.

Additionally, Ms. Hance is actively involved in numerous professional organizations including America’s Community Bankers Regulatory Affairs Committee, RMA Associates, Financial Managers Society, Middlesex County Chamber of Commerce and the New Jersey League of Community Bankers.

Ms. Hance holds an A.A.S. in Accounting and B.A. in Economics, and is licensed as a New Jersey Life & Health Insurance producer. In July 2005, Ms. Hance graduated with honors from the National School of Banking of America’s Community Bankers, a rigorous three-year graduate-level program focused on strategic thinking and strategic planning.

Ms. Hance served on the FMS Financial Managers School Advisory Council in 2003, the Board of Trustees of Brunswick-Raritan Housing Corporation from 1992-2000, the Board of Trustees of YWCA of Central Jersey from 1987-1992, the New Jersey Department of Banking & Insurance’s Elder Financial Fraud Prevention Task Force in 1996, the Federal Home Loan Bank of New York’s First Home Club Task Force in 1993, the Robert Wood Johnson University Hospital Auxiliary from 1991-1995, and as an instructor for the Institute of Financial Education, Garden State Chapter, 1985-1990.

She and her husband Jim live in North Brunswick, NJ and have one daughter.