Chief Operating Officer

S&W has been retained by Reading Cooperative Bank (“RCB”, www.readingcoop.com) to manage the search and selection process for the bank’s Chief Operating Officer.

Established in 1886, “with a mission to make it possible for the average ‘workingman’ to purchase a home,” Reading Cooperative Bank is an approximately $710MM, Massachusetts-based mutual bank. As a mutual bank, the bank is owned and governed by its depositors, and its mutual ownership structure allows it to operate under the mantra of “people over profits, every time.” Consistent with the Bank’s mission, RCB has recently opened its 11th branch location in Lawrence, MA and operates two educational branches within local high schools. As the Bank has evolved it has grown into a progressive and technology-driven community financial institution embodying the best of what a community bank can be – committed to the communities it serves with pioneering technology offerings that allow its customers to bank where and when they want. RCB is in strong financial condition, with good earnings, efficiency, capital, and asset quality(noncurrent loans to loans of 0.20%). The bank maintains an approximately $556MM loan portfolio, 95% of which is secured by real estate.

Reporting to the President & CEO, the COO will join an accomplished and collaborative senior management team and will be integral in both setting the strategic vision of the bank and leading key departments toward that vision. The COO is responsible for all internal operational functions of the bank, including Information Technology, Core Processing, Deposit Operations and Call Center, Loan Servicing, Project Management, and Facilities. This important and highly visible role will serve as a member of the Executive Team and, as such, is expected to provide necessary leadership and management to ensure the strength of these key functions with an emphasis on improving customer experience and internal processes as well as contributing to the bank’s culture, strategy, and leadership. We are seeking innovative and strategic banking leaders for this important and highly visible community banking executive role. For additional information, or to arrange a confidential discussion, please contact a member of the S&W search team: Cameron Boyd, Managing Partner, Financial Services (cboyd@smithandwilkinson.com) or Moriah Maron, Senior Associate, Financial Services (mmaron@smithandwilkinson.com).

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