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Creating New Hampshire Mutual Bancorp will mean one fewer thrift but allows management the chance to preserve a type of institution that is threatened with extinction.
September 17 -
A recent survey shows that two-third of mutual savings banks have considered mergers and that 40% give it even odds that they will participate in consolidation in the next five years.
March 25 -
Biddeford Savings Bank and Mechanics Savings Bank will form a holding company to help each cut costs and make bigger loans. But the thrifts are hoping to keep their own charters, and independence, over the long term.
February 17
New Hampshire Mutual Bancorp in Concord will promote two executives to the position of president of its bank units after the retirement of Chief Executive Paul Rizzi.
The $1.5 billion-asset company named Philip Emma president of Merrimack County Savings Bank and Richard Wyman president of Meredith Village Savings Bank. Both moves are
The promotions come as Rizzi plans to retire as president and CEO of Merrimack County, after 18 years at the bank. Rizzi will also retire as co-president and co-CEO of the holding company. Samuel Laverack will become the sole president and CEO of New Hampshire Mutual Bancorp.
Wyman will succeed Laverack as president of Meredith Village. At both Merrimack County and Meredith Village, the CEO positions will be left vacant.
Emma is currently chief operating officer of New Hampshire Mutual Bancorp and president of MillRiver Wealth Management, an affiliated subsidiary. Wyman is currently chief financial officer of New Hampshire Mutual Bancorp.
Rizzi will remain a director of both New Hampshire Mutual Bancorp and Merrimack County. Emma will also retain his position as president of MillRiver.
As part of the series of personnel moves, New Hampshire Mutual Bancorp also promoted Jason Hicks from treasurer of New Hampshire Mutual Bancorp to chief financial officer.
New Hampshire Mutual Bancorp was formed in 2013, to serve as the holding company for Merrimack County and Meredith Village, which merged in the same year.
