Newburyport Bank in Newburyport, Mass., has a new president.
The $1.6 billion-asset mutual said in a press release that Jim McCarthy will also become its chief operating officer on June 28. McCarthy, a member of the bank’s board, was chairman, president, and CEO of First Ipswich Bank
“Jim is a seasoned and respected leader who understands both the opportunities and the complexities of modern banking,” Lloyd Hamm, president and CEO of holding company River Run Bancorp, said in the release.
“At a time when our industry is navigating rising interest rates, regulatory pressures, and rapidly shifting customer expectations, his experience and strategic mindset will be instrumental in driving forward our mission and delivering value to our communities,” Hamm added.