Northern Bank Selects Joe Lussier as EVP, Chief Financial Officer
March 2025 – In anticipation of the planned retirement of its longstanding Chief Financial Officer (CFO), Northern Bank retained Smith & Wilkinson to manage the executive search and selection process for this strategic executive hire. This position reports directly to the President & CEO and plays a pivotal role in guiding the bank’s financial strategy, overseeing all finance and accounting functions, and serving as a key member of the executive leadership team.
Northern sought a strategic and forward-thinking financial executive with deep expertise across finance, accounting, reporting, and analytics, as well as a proven track record of building and leading high-performing teams within a dynamic, growth-oriented environment.
Following a comprehensive search process, Northern ultimately selected Joe Lussier, CPA, CFA to serve as its next CFO. A resident of Bedford, New Hampshire, Lussier spent 26 years with publicly traded Enterprise Bank in Finance and Accounting roles of increasing scope, responsibility, and visibility. For 6 years, he served as EVP, Chief Financial Officer & Treasurer for the Lowell-based bank until its sale to Rockland Trust. During his tenure as CFO at Enterprise, the bank was a consistent top performer across all key financial indicators. He began his career with KPMG and received his BS in Finance and Accounting from Merrimack College.
The Northern Bank CFO search was managed by Cameron Boyd, Managing Partner.
About Northern Bank
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.
About Smith & Wilkinson
For over 25 years, Smith & Wilkinson has been a trusted executive search and talent advisory partner. Our Financial Services team serves banks, credit unions, service providers, associations, nonbank lenders, financial technology companies, community and economic development organizations, and government-sponsored enterprises in attracting, promoting, and retaining senior leaders who drive long-term business success.
Our financial services executive search work includes Board, C-suite, and Director level engagements across executive leadership, strategy, risk, finance, operations, lending, technology, and wealth management, and more. With industry-leading market insight and a consultative approach, we provide both clients and candidates with exceptional visibility into today’s evolving talent landscape.
Looking to fill a leadership role similar to this position? Please contact us to learn more about partnering with Smith & Wilkinson’s Financial Services executive search team to attract, promote, and retain the talent your organization needs to grow and compete.