Cambridge Savings Bank in Cambridge, Mass., has a new CEO.
The $6 billion-asset mutual bank said in a press release that Ryan Bailey will also become its president on Feb. 28. He will succeed Wayne Patenaude, who is retiring.
Bailey previously served as head of retail banking at USAA.
“After over a decade of such strong direction from Wayne, we made it a priority to select an exceptional leader who will continue to uphold CSB’s values and commitment to excellence,” Robert Reardon, the bank’s chairman.
“The board has unwavering confidence that Ryan will build on Wayne’s legacy of maintaining CSB’s position as a strong community leader since 1834,” Reardon added.
Patenaude will become a special adviser to the board.