Due to the planned retirement of the bank’s longtime Senior Vice President, Chief Technology Officer, S&W has been retained by Norway Savings Bank (“NSB,” norwaysavings.bank) to manage the search and selection process for its Chief Information Officer (“CIO”).
Established in 1866, NSB is a 156-year-old, $1.7B state chartered mutual bank. The bank has over 320 full-time employees and at its asset size is the 7th largest bank headquartered in the state of Maine. NSB offers a breadth of both loan and deposit solutions for consumer and business banking customers as well as investment and trust services through its asset management group and operates 24 branch locations in western and southern Maine. While the bank’s growth has been primarily organic, NSB also acquired Portland-based Coastal Bank in 2001. NSB is in strong financial condition, notably with over 12% Tier 1 capital, and has an approximately $1.1B loan portfolio, with over $1B secured by real estate. As a mutual bank, the bank is owned and governed by its depositors (there are no shareholders), allowing the bank to take a long-term view of success based on customers, community, employees, and strength of balance sheet. A fantastic corporate citizen, NSB awarded over $1MM to Maine nonprofits in 2021.
Joining a tenured and collaborative senior management team, the CIO will play a key leadership role in shaping the future of technology for this storied community banking franchise. Specifically, the CIO is responsible for leading, developing, and motivating a strong team to provide information systems and technology (IS&T) support and solutions for all of the bank’s business functions. This includes vision, leadership, and oversight of the IS&T environment, infrastructure, information security and cybersecurity, mainframe, enterprise data management, business application management, systems administration and integration, IS&T project management, vendor relationships and contracts, and budget and expense management.
For additional information about this unique community bank executive role, please contact a member of the S&W search team: Cameron Boyd, Managing Partner, Financial Services (email@example.com) or Nathan Townsend, Partner & Consultant (firstname.lastname@example.org).