Due to an upcoming retirement, Smith & Wilkinson has been retained by Merrimack Valley Credit Union (MVCU) to manage the search for the credit union’s next SVP, Commercial Lending Manager. Founded in 1955, MVCU has grown from humble beginnings to become one of the five largest credit unions in Massachusetts. With the recent merger between MVCU and RTN FCU, they now manage over $2.4B in assets, with over 116,000 members spread across nearly two dozen locations.

Reporting to the EVP, CLO, & Corporate Strategy, the SVP, Commercial Lending Manager is responsible for overseeing the administration and growth of the credit union's commercial loan portfolio, ensuring compliance with policies and regulations while maintaining asset quality and profitability. This role involves directing commercial loan activities, overseeing underwriting, credit reviews, and portfolio management, as well as ensuring risk management and business development initiatives align with the credit union’s strategic goals. Additionally, the SVP collaborates with various departments on product development and service outreach, leads regulatory compliance efforts, and participates in senior leadership meetings to support overall organizational objectives. Maintaining strong external relationships and fostering a culture of continuous improvement are also key aspects of this role.

For a confidential conversation and additional information, please reach out to Nathan Townsend (ntownsend@smithandwilkinson.com).

Smith & Wilkinson is honored to be partnering with Liberty Bay Credit Union to identify the organization's next President & CEO.

Liberty Bay Credit Union, headquartered in Braintree, MA, was originally founded in 1917 to serve telephone workers and their families and, today, serves a geography-based field of membership across eastern Massachusetts of 24,000 members and a field of membership encompassing nearly three million people. With $800MM in total assets and 14% capital, Liberty Bay aspires to continually improve their member experience, add new members to the organization, and return profits to members in the form of higher rates on deposits and lower rates on loans. The Credit Union believes this can be accomplished through a combination of progressive operational efficiencies, continuous improvement methodology, and a corporate culture focused on doing what is right for their members, community, and employees.

Successful candidates will have a well-rounded operational and financial expertise, experience streamlining operations and identifying efficiencies, mature leadership abilities, and, ideally, experience within the credit union industry. 

For more information and a confidential conversation, please contact Carll Wilkinson (cwilkinson@smithandwilkinson.com) or Moriah Maron, Director of Recruiting (mmaron@smithandwilkinson.com). 

S&W has been retained by Northern Bank to manage the search and selection process for the Chief Financial Officer (“CFO”) position. Founded in 1960, Northern Bank is an approximately $3.1B, privately held and family-run bank. From its roots in Woburn, Massachusetts, the bank has grown to serve a national customer base and into one of the best run banks in the country, serving over 32,000 clients nationally, operating 12 retail locations, and employing approximately 300 dedicated professionals. During the 10-year period of 2013-2023 the bank achieved a 3X increase in assets, a 4X+ increase in capital, and grew its employee headcount by 83%. The bank is primarily a commercial lender, with approximately $1.2B of its $2.7B loan portfolio in C&I. The bank has a large specialty lending expertise, focused largely on QSR's nationally, distinguishing itself through its expertise, creative dealmaking, cutting edge analytics, and white glove service. Northern's outstanding financial performance speaks to the success of its model; for the period ending 3/31/24 Northern Bank had a NIM of 4.41, ROA of 1.64, ROE of 11.84, Efficiency Ratio of 43.75, and Core Capital of 14.40. In 2023, the bank launched Northern Digital Solutions (NDS), with the aim of developing proprietary digital products and solutions both for the benefit of existing Northern Bank customers as well as to be sold to other financial institutions. A generous corporate citizen, the bank donates to a wide array of area nonprofits through both grants from the Northern Bank Charitable Foundation and through donations.

Reporting to the bank's President & CEO, James Mawn, the Chief Financial Officer will lead all aspects the bank's finance and accounting functions and be a collaborative member of executive leadership. We are seeking exceptional bank finance executives for this unique, growth-oriented leadership role. Successful candidates will have demonstrated expertise across a wide spectrum of finance, accounting, reporting, and analytics functions, strong leadership skills directing an exceptional team of professionals, and will have thrived within entrepreneurial work environments.

For additional information, or to arrange a confidential conversation, please contact a member of the S&W search team: Cameron Boyd, Managing Partner (cboyd@smithandwilkinson.com) or Darcy Flaherty, Senior Associate (dflaherty@smithandwilkinson.com).

Established in 1866, Norway Savings Bank ("NSB,") is a 158-year-old, $1.7B state chartered mutual bank. The bank has 300 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 13% 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 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. With a full suite of mobile and online banking solutions, the bank is the epitome of a modern community bank, balancing local interests and decision making while allowing customers to bank where they want, and when they want. A fantastic corporate citizen, NSB awarded over $1.05MM to 355 Maine nonprofits in 2023 and its employees volunteered over 4,000 hours.

The Chief Risk Officer (CRO), reporting directly to the President and CEO, is tasked with leading NSB’s comprehensive enterprise-wide risk management program, encompassing vendor, departmental, credit, and information security risks. This role is pivotal in identifying, assessing, and monitoring risk levels, ensuring the effectiveness of risk controls, and aligning NSB’s risk management activities with the Board of Directors' risk tolerance directives. The CRO also oversees credit risk management, particularly within the commercial and retail loan portfolios, ensuring compliance with regulatory requirements and maintaining credit quality. Additionally, the CRO serves as the primary liaison between bank management and the Board Risk Management Committee, supports various management committees, and directly supervises key risk and compliance officers. This leadership role will be heavily involved in strategic planning, regulatory compliance, and risk mitigation across the organization.

For additional information, please contact a member of the S&W search team: Nathan Townsend, Partner (ntownsend@smithandwilkinson.com) or Cameron Boyd, Managing Partner (cboyd@smithandwilkinson.com).

Under the general supervision of the Head of the Division (SVP, Trust), this position performs a variety of duties relative to the business development of the Greenfield Savings Bank Wealth Advisory business in the assigned region. The Senior Trust Officer markets investment, trust and other fiduciary services to prospective individual, business and not-for-profit clients. The selected person will develop relationships with sources of new business referrals, including bank personnel, attorneys, accountants and other professional advisors.

S&W has been retained by Washington Trust to manage the search and selection process for the bank’s Executive Vice President, Chief Retail Banking Officer. Founded in 1800 and headquartered in Westerly, Rhode Island, Washington Trust is the oldest community bank in the U.S and one of the premier financial institutions in the region. The bank has approximately $7.2B in total assets, manages $6.8B in wealth assets under administration, has $5B in deposits, and a $5.6B in loan portfolio. Washington Trust serves customers across established business lines in commercial and mortgage lending and wealth management, creating diverse income sources, and operates 28 retail locations in Rhode Island, Connecticut, and Massachusetts. The bank is publicly traded (NASDAQ - WASH) and in outstanding financial condition. For the most recent reporting period the bank had a return on equity (ROE) of 9.34%, return on assets of 0.60%, outstanding asset quality metrics, and is well-capitalized.

Reporting to the bank’s President & Chief Operating Officer, the EVP, Chief Retail Banking Officer’s main function is to contribute to the strategic direction of the corporation through the effective leadership of the retail banking division. Primary responsibilities will include expert leadership and management of the retail banking team, the development and execution of a strategic plan for the continued growth of the division, the continuous improvement of the existing branch network and customer experience, and a proactive approach to future opportunities to expand the network. The role will serve as a member of senior management and participate in enterprise level initiative and governance functions and committees. We are seeking exceptional retail banking executives for this unique leadership role. Knowledge of the markets currently served by Washington Trust is highly valued. Successful candidates will have a demonstrated track record of utilizing and recommending technology solutions that improve customer experience and process optimization, past success in leveraging retail branches as a driver of deposit growth, and deep product acumen. For additional information, please contact a member of the S&W search team: Cameron Boyd, Managing Partner, Financial Services (cboyd@smithandwilkinson.com) or Darcy Flaherty, Senior Associate, Financial Services (dflaherty@smithandwilkinson.com).

Smith and Wilkinson is currently retained by Connected Credit Union (https://www.connectedcreditunion.org/) to manage the search for their next CEO due to an upcoming retirement. This well run, community-chartered, credit union is looking for their next leader to continue serving their growing member base through a combination of superior member service and new solutions. At $120MM, Connected Credit Union has over 8,000 members within the Central Maine market and has a long tradition of benefiting the local community. We are seeking a well-rounded, member focused, financial services executive who understands the rewards and challenges of leading a smaller community focused institution. Please contact Stephen Peary or Julia Crouter for more information on the role.

Due to the continued growth and evolution of the bank, The Cooperative Bank of Cape Cod ("The Coop”) has retained S&W to manage the search for its next FVP, Commercial Relationship Manager.

Headquartered in Hyannis, Massachusetts, The Coop is a mutual community bank that has been serving the financial needs of consumer and small business customers for 103 years. With a vision to be "positively different" in service to its customers, employees, and the communities it operates in, the bank offers a full suite of products and services to meet the needs of its customers both on Cape and beyond. Under the leadership of its current Chair of the Board, President & CEO, Lisa Oliver, The Coop has evolved significantly in recent years, nearly doubling its asset size to $1.6B, establishing The Cooperative Bank of Cape Cod Charitable Foundation Trust, renovating its headquarters, and being recognized nationally for the diversity of its Board of Directors and senior leadership team. The bank is in strong financial condition with good earnings, efficiency ratio, asset quality, and capital.

Reporting to the Chief Commercial Banking Officer, the FVP, Commercial Relationship Manager manages commercial lending activities and focuses on developing new business in alignment with the bank's policies and objectives. The role is pivotal in cultivating and maintaining strong customer relationships, evaluating loan requests, and presenting recommendations to higher approval authorities. Responsibilities include managing a pipeline of loan and deposit activities to meet growth goals, training less experienced team members, and negotiating credit terms with clients. Additionally, the individual plays a key role in representing the bank in the Cape Cod community, participating in civic and non-profit initiatives to enhance its public image.

For additional information, or to arrange a confidential conversation, please contact a member of the S&W search team: Cameron Boyd, Managing Partner, Financial Services (cboyd@smithandwilkinson.com) or Nate Townsend, Partner, Financial Services (ntownsend@smithandwilkinson.com).

S&W has been retained by Arrow Financial Corporation (“Arrow”) to manage the search and selection process for the bank’s next Director of Wealth Management.

Headquartered in Glens Falls, NY, Arrow is an approximately $4B, publicly traded (Nasdaq: AROW), diversified community bank. Arrow is the parent company of two, long-standing community banks, Glens Falls National Bank & Trust Company and Saratoga National Bank & Trust Company, as well as for North Country Investment Advisors, Inc. and Upstate Agency, LLC. The bank serves commercial, consumer, and nonprofit customers across northeastern New York and the Capital District through both its retail branch network and a modern suite of online and mobile banking solutions, allowing its customers the flexibility to bank where they want, and when they want. The bank is aggressively growing their business in the Capital Region. Arrow is in strong financial condition, and at the end of 2023 reported strong net income ($30MM), total loans ($3.18B), retail deposits ($3.51B), and return on average equity (8.29%). As stated by the company’s President & CEO, David DeMarco, in the 2023 Annual Report, “At the heart of everything we do is our mission to strengthen financial lives and make a positive impact on the communities we serve.” The bank is a fantastic corporate citizen, having donated almost $800,000 to area nonprofits in 2023 and volunteered more than 11,000 staff hours.

Reporting to the bank’s SEVP, Chief Banking Officer, the Director of Wealth Management will lead the effort to grow a business line that the bank has identified as a key, strategic priority in its future plans. The position will be responsible for the leadership and management of a tenured team of wealth management professionals across Retirement Plan Services, Trust & Wealth Services, Investment Services, and Operations. We are seeking exceptional banking leaders with a demonstrated understanding of the role that a robust wealth management offering can play in enriching the lives of customers as well as how the growth of a wealth division can support a holistic financial relationship across the organization. As a member of the Senior Leadership Team, the ideal candidate will be a strong leader of people, dedicated to fostering a culture of collaboration, accountability, and sales growth. This is a primarily in-office role in Glens Falls, NY.  Glens Falls is an amazing place to live, work and play at the foothills of the Adirondack Mountains minutes from the Queen of lakes, Lake George, and a quick ride from Saratoga.

For additional information about this unique community bank leadership role, please contact a member of the S&W Search Team: Cameron Boyd, Managing Partner (cboyd@smithandwilkinson.com) or Moriah Maron, Director of Recruiting (mmaron@smithandwilkinson.com).

Our client is a $7B mutual bank based in Connecticut. The Digital Banking Analyst will support digital banking projects surrounding: Online Banking, Money Movement, Online Account Opening and other apps and features as included and delivered through digital banking. He/she will provide support to Digital Product Owners as needed in the operational support of features and applications as well as delivering on the roadmap. Assist in setting up, testing and implementing new features and changes to the product suite.

The family office (PCW) either manages directly or is essential in purpose to the financials, accounting, tax planning, investments, estate planning, insurance, banking, personal projects, property management, philanthropic interests, administrative functions, and the relationships associated with the family that are held in multiple Trusts, LLCs, or owned directly in accounts and as real property. PCW intentionally will outsource functions and tasks to selected ‘expert managers’ in certain areas, knowing full-well that any successful outsourcing is only possible with the historical context and detailed information maintained and managed by PCW staff.

Due to an upcoming retirement, S&W has been retained by Newtown Savings Bank ("NSB," http://www.nsbonline.com/) to manage the search and selection process for the Bank’s next SVP, Chief Financial Officer (“CFO”).

Headquartered in Newtown, Connecticut, Newtown Savings Bank is an approximately $1.9B, 169-year-old, mutually chartered community bank. As a mutual bank, the bank is governed by its depositors, allowing it to take a long-term view of success based on a belief in "The Power of Local," which helps families to save, businesses to grow, and the communities it serves to prosper. NSB is a top 10 bank in Connecticut by asset size and was recently named as a Top Regional Bank by Newsweek for 2024. Additionally, NSB was named the top CT-based lender for single-family purchase mortgages in 2023. NSB operates 15 retail locations across Fairfield, Litchfield, and New Haven County and recently updated their technology to best serve customers and businesses alike. NSB is regulated by the FDIC and the State of Connecticut Department of Banking.

Reporting directly to the Bank’s President and CEO and working closely with a collaborative senior leadership team, the CFO will be responsible for the overall financial oversight of the Bank. Key responsibilities include oversight of finance and accounting functions, balance sheet management, financial reporting, management of the secondary market and investment portfolios, and driving organizational profitability. As an integral member of the Executive Committee, the CFO is an important and highly visible role, as such, this individual is expected to provide strong organizational leadership, management, and strategic vision across the Bank. We are seeking well-rounded finance and accounting executives with a deep commitment to community banking for this leadership role.

For more information, or to arrange a confidential conversation, please contact Moriah Maron, Director of Recruiting (mmaron@smithandwilkinson.com). 

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Headquartered in Skowhegan, Maine, Skowhegan Savings Bank is a mutual savings bank serving the communities of Kennebec Valley for 150 years. The Bank has fifteen branches that serve central Maine. With total assets just under $900MM, Skowhegan Savings Bank has been committed to taking an active role in making their communities a better place to live and work. As a matter fact, the Bank has been named one of “Maine’s Best Places to Work” year after year.

With an outstanding Tier 1 Risk-Based Capital Ratio of 19.88%, a growing deposit base, and a commercial loan portfolio focused on high asset quality, Skowhegan Savings Bank has maintained excellent financial performance during a challenging interest rate and regulatory environment. Due to continued growth and demand in the marketplace, the position of Senior Commercial Credit Analyst is available.

The position primarily provides financial spreading and tasks related to all types of commercial loan underwriting. Works to support loan officers. Prepares credit related reports for presentation to loan officers or committees by investigating and analyzing complex commercial credit risks. Will make recommendations regarding new deals and modifications to existing credits.

S&W has been retained by $13B OceanFirst Bank, a publicly traded bank with a reach from Boston to Washington, DC and headquartered in Toms River, New Jersey, to manage the search for their next Director of External Reporting and Tax.

OceanFirst Bank, established over 120 years ago, has consistently demonstrated its commitment to excellence, integrity, and innovation in delivering comprehensive banking solutions to individuals and businesses across New Jersey and beyond. With a strong emphasis on community involvement and customer satisfaction, OceanFirst Bank continues to expand its footprint while maintaining a customer-centric approach.

The Director of External Reporting & Tax at OceanFirst Bank plays a pivotal role in ensuring meticulous financial reporting in adherence to GAAP, SEC regulations, and internal policies. This strategic leadership position oversees the accurate and timely preparation of SEC filings, including 10-Q and 10-K reports, as well as regulatory filings such as FFIEC 041 and FR Y-9LP. The role also encompasses managing federal and state tax returns and provisions, contributing significantly to the bank’s fiscal health and regulatory compliance.

To arrange a confidential conversation or to obtain further information, please contact a member of the S&W search team: Darcy Flaherty, Senior Associate (dflaherty@smithandwilkinson.com) or Steve Peary, Partner (speary@smithandwilkinson.com).

Smith and Wilkinson has been retained by Municipal Credit Union, MCU, on a search for a VP of Business Development. The VP of Business Development is a Sales Executive position focused on identifying new business opportunities, building, and maintaining relationships with Select Employee Group (SEGs)s and driving revenue growth for the company. The role actively oversees the Business Development Team and Community Engagement Specialist. The primary responsibilities of this role will be to grow and activate the portfolio of Select Employer Groups (SEG), promote the credit union’s various product and service offerings, represent the credit union in the community, and effectively convey MCU’s brand. This is an excellent opportunity for a high-performing, seasoned sales leader to take over and bring MCU's Business Development Team to the next level. Please contact Stephen Peary or Julia Crouter for a confidential discission around the role.

Reporting to the EVP Chief Operating Officer, the Senior Commercial Lending Officer will be responsible for overseeing the management and direction of the Commercial Lending team, Commercial Loan Administration department, the Commercial Portfolio Manager, and the Commercial Banking & Compliance Assistant. This person will be a “player-coach” with business development and portfolio management responsibilities, while being part of the Senior Leadership Team.  Our client is a $1B mutual bank with locations in Southern Maine and Southern New Hampshire.