COVER STO RY
Four Decades Of Service Kathy Underwood Shows Leadership For Banking And The Community
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BY K EN L I EB ESK I N D, S PEC I A L TO B A NK I NG NEW E NGL A ND
athy Underwood was toiling away in A GREAT CAREER a Maine grocery story while a college After college, Underwood started her career with student. One of her accounting professors Key Bank. Her employment path would take her approached her and told her to seek to president of the bank’s operations in Maine. “I more lucrative employment. He made an started as a loan collateral clerk processing loan introduction to a banker friend not knowing he had documents and ran the private banking department laid the foundation for a 43-year career. before becoming president of the bank in 2000 and While completing her economics degree, maintained that position until 2005,” she recalled in a Underwood worked part-time as a Portland Savings telephone interview. Bank teller. Then she transferred to Key Bank where She was hired as president of Ledyard National Bank she would stay for 25 years. in 2005 by Dennis Logue, the She’s now president/CEO chairman of the board at the of Ledyard National Bank, a time who said, “It was a difficult community bank based in negotiation but we stuck to it “It’s a great honor to Hanover, New Hampshire with and she has been remarkable six branches in the granite be recognized as being over the years.” state and one in Vermont. It’s Logue cited three helpful to my industry. a position Underwood has held characteristics that generate It’s been a great career, since 2005. success – mastery of the In spite of her professor’s tongue, enthusiasm and belief it’s never the same and advice to seek more money, in a higher power. “She has all it’s very rewarding to Underwood’s career has not three of these,” he said. “She help our clients in our been one built just seeking is quite articulate speaking renumeration. It’s a collection clearly in front of an audience communities.” of service to her profession and she’s done a good job and to the greater community. leading the bank. We faced It’s why she has been named challenges in 2008 but we the 2020 recipient of the continued to pay dividends. Sandra J. Pattie Distinguished Leadership Award. She did a good job of preparing us for what’s coming She joins a number of prominent New England and has done a great job of managing our financial women bankers who have received the accolade. advisors and leading the activities of a growth phase.” The award is given to prominent New England Underwood oversees a bank that is currently women bankers in tribute to Sandra J. Pattie, the first achieving superlative numbers with record quarterly female CEO of BankNewport in Rhode Island. Previous earnings for the second quarter of 2020 and year to winners include Michelle Roberts, president and date. Total revenue for the quarter was $8,149,150, an community affairs officer of Bristol County Savings 11.6% increase over 2019 with total revenue for the first Bank in Massachusetts in 2017; Ellen Ford, CEO of the six months of $15,453,775, an 8.3% increase. People’s Credit Union in Rhode Island in 2018; and “We’ve achieved record earnings for a number Cynthia Merkle, president/CEO of the Union Savings of years and we’re one of the top 200 community Bank in Connecticut, and Guilda Nogueira, CEO, East banks in the nation in the under $2 billion category,” Cambridge Bank in Massachusetts, in 2019. Underwood said. “We have a strong wealth “It’s a great honor to be recognized as being helpful management department and commercial lending to my industry. It’s been a great career, it’s never the group and we’re hitting on all cylinders.” same and it’s very rewarding to help our clients in our The bank is operating efficiently during the communities,” said Underwood. coronavirus. “We’re refinancing mortgages and giving
10 BANKING NEW ENGLAND | Issue Four | September 2020
