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W W W. M A I N E B I Z . B I Z 11 N OV E M B E R 3 0 , 2 0 2 0 MEMBER FDIC MEMBER FDIC EQUAL HOUSING LENDER EQUAL HOUSING LENDER Growing a business? TALK TO A NEIGHBOR. 1-800-447-4559 | bathsavings.com You had the vision to build You had the vision to build something meaningful in the something meaningful in the community. We have the community. We have the experience to help it grow. experience to help it grow. Custom lending solutions are Custom lending solutions are here for you — and so are we. here for you — and so are we. Let's talk. Let's talk. Mara Pennell Mara Pennell Vice President, Commercial Lending Vice President, Commercial Lending Rob Tod Rob Tod Founder, Allagash Brewing Founder, Allagash Brewing B I Z M O N E Y Machias Savings bulks up leadership 'to stay local' B y R e n e e C o r d e s M achias Savings Bank will kick off 2021 with a new leadership structure it's counting on to "stay local" while pursuing growth. The setup, announced Nov. 13, includes two new executive positions, including chief banking officer, and four regional senior vice presidents. "We have grown this company one great employee and one new customer at a time. That's how we expect to continue to grow," Larry Barker, the bank's CEO, told Mainebiz. "We have to be Maine's best big small bank." The announcement follows the bank's recent move into a new $5 million downtown headquarters building at 31 Main St., Machias. Under the plan the bank is calling a strategic restructuring, every member of the senior team has been promoted to executive vice president. The promotions include the newly created executive leader- ship positions of chief banking officer and chief data analytics and product officer. Christian Lyford, previously chief operating officer, will serve as chief banking officer, while Nicole Pellenz has been promoted to chief data analytics and product officer. She was previously senior vice president for deposit relationships. Barker explained to Mainebiz that while previously retail and business or commercial banking were run as sepa- rate departments, both will now be overseen by Lyford. "We wanted to break down those silos," Barker said. "We've had market teams we've been trying to encourage to work together, and I believe this is the next step in the evolution of that work — taking it to yet another level." Machias Savings Bank, which has $1.8 billion in assets, has 16 branches from Portland to Calais and about 285 employees. Beyond the senior level promotions, Machias Savings Bank is introducing four new regional senior vice presi- dent positions, with Jonathan Alley leading the Downeast and northern markets; Jill Saucier managing the midcoast market; and Dean Clark heading the central market. A fourth regional senior vice president, for the southern market, has not yet been named and will be managed for the time being by Chris Fitzpatrick, who will stay in his role as chief lending officer. As part of the reorganization, there are two additional promotions to senior vice president roles: Kari Reynolds to senior vice president leading a new relationship sup- port department, which includes loan serving, customer service and deposit services; and Lucas Morris as senior vice president, senior credit officer, overseeing business loan processing and underwriting. Among other details, Peter Greene will fill Lyford's former role as chief operating officer; Traci Sanborn will remain chief customer experience officer; Nate Martell will fill the role of chief risk officer, with a focus on enterprise risk management; Matt Walsh will continue as chief financial officer; and Danielle Caricofe will remain as chief human resources officer. Barker told Mainebiz that there are no other hir- ing plans at this moment, and that Machias Savings would focus in the next three to five years exclusively on the state of Maine with significant growth in the southern part of the state. We've had market teams we've been trying to encourage to work together, and I believe this is the next step in the evolution of that work. — Larry Barker Machias Savings Bank P H O T O S / C O U R T E S Y O F M A C H I A S S AV I N G S B A N K Jonathan Alley Dean Clark Jill Saucier

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