TRY TO KEEP UP

TRY TO KEEP UP

LOCAL PROFESSIONALS MAKING THEIR MARK IN NEW ENGLAND BANKING

Berkshire Announces Executive Leadership Transition

Sean A. Gray

Berkshire Hills Bancorp, Inc., the parent company of Berkshire Bank, announced that Richard M. Marotta stepped down from his position as president and CEO of the company and CEO of the bank, as well as from his role as director to pursue new opportunities.

The bank’s leadership succession planning process concluded with the board choosing Sean A. Gray, current senior executive vice president of the company and president and chief operating officer of the bank, to serve as acting president and CEO for the company. The board will initiate a CEO search process to consider candidates inside and outside of Berkshire, and Gray will be a candidate in that search process.

According to the Worcester Business Journal, https://www. wbjournal.com/article/berkshire-hills-president-and-ceo-stepsdown Marotta is the second CEO to suddenly step down from the bank since 2018. His predecessor, Michael Daly, abruptly resigned as president and CEO in November 2018, with little explanation for the departure. Daly received $7.5 million as a severance package.

As CEO, in addition to the implementation of the Bank’s Be FIRST values, Marotta led the launch of Reevx Labs, the bank’s initiative for investment in local communities to help individuals and small businesses access banking services and capital. Under Marotta’s tenure, the bank expanded its outreach to diverse communities, achieved greater diversity in its executive/ senior management ranks, and has been recognized as a leader among its peers in environmental, social & corporate governance rankings.

Naylor Hired As VP To Oversee New Valley Branch

Malissa Naylor

New Valley Bank & Trust, the first new bank in Massachusetts in the past decade, opened its expanded downtown Springfield branch. Malissa Naylor has joined the bank as vice president, relationship manager to oversee the new office and to continue the bank’s business development efforts.

“Malissa is an experienced banker who brings a high level of community involvement to our team,” said Jeff Sullivan, New Valley’s president. “Malissa is eager to solve problems for customers; she leverages her 15 years of experience in banking to creatively bring answers to the table.”

Naylor will be working with the bank’s commercial banking team to advise and implement cash management solutions to its customers. New Valley’s online banking platform combines many customer-friendly features such as single sign-on for all cash management, remote deposit, wire and ACH functions, an online dashboard to view and transfer from outside financial institutions as well as between New Valley accounts, and full mobile banking functionality.

Naylor is a graduate of Westfield State University and holds a Bachelor of Science degree in business administration. She is a board member of Home City Housing, Inc., an affordable housing development company, and is also involved in numerous community organizations in a volunteer capacity.

Montgomery-Rice To Serve As Chair Of Maine Bankers

Robert Montgomery- Rice

At the 127th annual meeting of the Maine Bankers Association - held virtually this year - the member banks elected Robert S. Montgomery-Rice, president & CEO of Bangor Savings Bank, to head the association as chair beginning July 1. Also elected as association vice chair was Curtis C. Simard, president & CEO of Bar Harbor Bank & Trust.

Montgomery-Rice served as vice chair of the Maine Bankers Association this past year and has been a member of the executive committee since 2016. He also serves as a trustee of the Maine Financial Institutions Insurance Trusts. He joined Bangor Savings Bank in 2004 as the director of human resources. He was the chief operations officer before being named President & CEO in 2015.

Simard joined Bar Harbor Bank & Trust in 2013 and has worked in the banking industry for 28 years. He was originally elected to the executive committee in 2014 and served a threeyear term. He was reelected to the executive committee in 2019.

Tony McKim, president & CEO, First National Bank will continue to serve as the immediate past chair. In addition to the leadership, others elected to the executive committee include

Glenn L. Hutchinson, president & CEO, Bath Savings Institution; Stephen deCastro, president & CEO, Gorham Savings Bank; Jeanne Hulit, president & CEO, Maine Community Bank; and Timothy J. Thompson, president & CEO, Franklin Savings Bank.

Murphy To Succeed Forte As Head Of Massachusetts Bankers

Kathleen M. Murphy

The Massachusetts Bankers Association board of directors announced that Kathleen M. Murphy will become the next president and CEO of the Massachusetts Bankers Association. She will succeed Daniel Forte who has led the association as president and CEO since 1997, having joined in 1985.

Murphy joins the bankers’ group after 20 years as president and CEO of the Maryland Bankers Association and leading the Maryland banking industry, comprised of community, regional and nationwide banks at a time of significant economic, legislative, regulatory, technological and demographic change.

Prior to the Maryland Bankers Association, Murphy served at the American Bankers Association, Washington, D.C. as director of the Community Bankers Council, representing this constituency group before federal policy makers, regulators, media, community groups and other external partners. She currently serves on the ABA Foundation board of directors, the Independent Community Bankers of America Large Community Bank Council, the Maryland Coalition for Financial Literacy’s executive committee, and is former Chair of ABA’s State Bankers Association Alliance.

Patriot Bank Names New President & CEO

Robert G. Russell, Jr.

Patriot National Bancorp, Inc. the parent company of Patriot Bank, N.A. announced that Robert G. Russell, Jr. has been named president and CEO of both the bank and its parent company, Patriot.

Russell joins Patriot from Millington Bank of Morris and Somerset counties of New Jersey, where he served as executive vice president and chief operating officer. Russell has more than 30 years of community banking experience. Previously, he served as president and CEO of NJM Bank, and before that, as its chief financial and investment officer. Russell has led both institutions to achieve significant growth and increases in profitability.

Michael Carrazza, chairman of Patriot said, “Robert Russell has a strong community banking track record that overlaps with the leadership Patriot needs to continue its growth and unlock the intrinsic value of Patriot’s banking franchise. His skillset and the community banking experience he brings will allow us to continue building our franchise and enhance the banking services and experiences for our clients.”

In June Patriot reported that the institution’s total assets, as of the first quarter 2020, increased 2% to $999.6 million, its net loan portfolio increased to $808 million, deposits grew a strong 4.4 percent, or $33.7 million, to $803.2 million, and net interest income was up 1.9%.

Picard Named President & CEO Of Savers Bank

Rosemary Picard

Savers Bank announced that its board of directors has named Rosemary Picard as the company’s next CEO and president. Picard succeeds past CEO and President Joe Coderre who retired after 35 years with the company.

Picard was the bank’s chief operating officer and chief financial officer since 2014. Prior to joining Savers Bank, she served as CFO and treasurer for Dean Bank. Picard’s 20 years of banking experience which includes Beneficial Finance & Mortgage and State Street Bank & Trust. She is a certified public accountant and worked as a senior accountant for Piccerelli, Gilstein, & Co LLP located in Providence.

“Rosemary is eager to build upon the past successes of the bank and lead the company into its next chapter. Her forwardthinking ideas to improve the bank efficiencies along with providing leading bank customer financial solutions will insure that Savers Bank is among the top leading community banks in Central Massachusetts.” said Dr. Dewey J. Tiberii, board chairman.

Picard graduated with honors from University of Massachusetts Dartmouth with a Bachelor of Science degree in Accounting.

Franklin Savings Bank Hires Commercial Credit Risk Officer

Amy Hebert

Franklin Savings Bank announced the appointment of Amy Hebert to the role of commercial credit risk officer. Throughout her career, Hebert has gained an extensive amount of exposure in virtually all aspects of the commercial banking world, including compliance, lending and credit analysis. “The combination of Amy’s varied experience and thoughtful, professional approach align well with the culture at Franklin Savings Bank, and we believe she’ll be a strong addition to our team and play an important role in our future growth,” said Derek Hayes, senior vice president, director of commercial lending.

Hebert earned a master’s degree in business ethics and compliance from New England College of Business as well as a Bachelor of Science in Business Administration and Management from the University of Southern Maine. She spent that last 17 years working for another Maine-based financial institution. Hebert lives in Southern Maine with her three children.