S&W has been retained by Northeast Bank (northeastbank.com) to manage the search for the bank’s Chief Risk Officer (“CRO”).
Northeast Bank is a high-performing publicly traded community bank. The bank was founded in Maine in 1872 and acquired by its current ownership group in 2010. The bank’s overall strategy is to originate consumer and small business deposits primarily through its retail branch network in western, central, and southern Maine and to use those loans to originate and purchase commercial real estate loans nationally. Northeast Bank has experienced significant growth and currently has approximately $3B in total bank assets and is in exceptional financial condition with strong earnings, efficiencies, asset quality, and capital. From the most recent reporting period the bank has an ROE of 17.49%, efficiency ratio of 44.12%, noncurrent loans to loans of 0.62%, and core capital ratio of 10.38%. The Bank is regulated by the FDIC and the State of Maine Bureau of Financial Institutions.
Reporting directly to the bank’s President & CEO and joining highly collaborative executive team, the CRO will play a critical role in the ongoing development and implementation of enterprise-wide risk management practices and culture, position the bank for ongoing growth and success. The CRO will be responsible for leading teams in Compliance, BSA and ALM, and serve as the Bank’s Information Security Officer. We are seeking exceptional risk management talent with strong communication skills for this unique and growth-driven community bank leadership role. For additional information, or to arrange a confidential discussion, please contact Moriah Maron, Consultant, Financial Services (email@example.com).