Northfield Savings Bank Board Chair Nancy Pope has announced Thomas Pelletier, President & CEO, will be leaving the Bank in 2015. Ms. Pope stated the Board has known for several years of Pelletier’s choice to depart the Bank in 2015 upon reaching the age of 60. Ms. Pope expressed the Board’s deep appreciation for Pelletier’s commitment to the Bank. She added NSB is well positioned for a change in leadership and the Board is confident the Bank’s performance will not be disrupted.
Pelletier became President & CEO in 1998. During his tenure, NSB has grown from $352 million to $754 million in assets and expanded its branch network into the Chittenden County market. Ms. Pope attributed the Bank’s growth and expansion, strong capital position, excellent asset quality, consistent earnings and staff development to the strength of Pelletier’s leadership. She also noted Pelletier’s role in establishing the NSB Foundation, which together with the Bank, donates 10% of profits to area community organizations.
The Board has engaged Kaplan & Associates, Inc. of Philadelphia to assist in identifying the next President & CEO. The Board will be considering internal and external candidates for the position.
Northfield Savings Bank was founded in Northfield, VT in 1867 by a schoolmaster and haberdasher who believed a local community bank was needed. More than seven generations later, the Bank continues this community-minded tradition, and has grown to become the second largest bank headquartered in Vermont. Northfield Savings Bank operates 13 branches throughout central Vermont and Chittenden County. Member FDIC. Equal Housing Lender.
