Worcester Business Journal

F O C U S OUTSTANDING WOMEN IN BUSINESS AWARDS BY SUSAN SHALHOUB Special to WBJ M ary McGovern is not only reaching milestones. She helps other women (and men) reach their goals by encouraging volunteerism, gentle mentoring, exhibiting leadership, and blasting out of her own comfort zones with confidence. All continue to pay off: In January, McGovern became Country Bank's first female president. Then, in August, she became the first woman to lead the Ware bank in its 174-year history when she succeeded CEO Paul Scully following his retirement. "I am very competent. I have taken over newer divisions," said McGovern. "I know enough about the bank to trust its leaders and help them get to the next level. I am leaning in, reading books. Is it scary? It certainly is scary." Of the 25 largest banks in Central Massachusetts when ranked by local deposits, Country Bank is one of four to be led by a woman. McGovern is "whip smart and incredibly intelligent," said Katie Crockett, a member of the bank's board of trustees. Prior to becoming the bank's leader, McGovern served as its CFO since 2011, later adding the title of chief operating officer in 2022 before becoming president and CEO. During her time as CFO, bank assets grew 30%. Loans are up 66% to $1.5 billion, and deposits are up by 68% to $1.4 billion as of Aug. 31. "When she was CFO, she reported to us monthly on strategic planning, a rigorous process," Crockett said. During this time, the bank transitioned to an asset-based model from an investment-related platform, she said, with McGovern taking the lead. In 2022, when she was promoted to Country Bank's chief operating officer, McGovern oversaw finance, operations, facilities, retail banking delivery, and technology. "She was very deferential to Paul. It was an interesting process to see her management style, which was more delegated. She was quick to develop an organizational chart, another strength aside from her financial prowess," Crowley said. Though McGovern gives credit to Scully for laying the groundwork, she took the ball and ran with it in creation of the founding partnership with the Worcester Red Sox. She also championed the addition of six bank locations. As a volunteer in the community, McGovern has served on the Baystate Health Foundation board in Springfield and just joined The Food Bank of Western Massachusetts board as well. She is active in Be Like Brit, the Worcester nonprofit named after Britney Gengel, established to build an orphanage in Haiti after Britney's death at age 19 following an earthquake during a mission trip there. McGovern went on a humanitarian trip to the country in 2015 with the organization. "When she volunteers for something, she is thoughtful and puts 120% into it," Crockett said. "Rather than racing around, she puts time where she will have an impact." On a large scale, bank philanthropy has reached almost $10 million over the past decade on McGovern's watch. Giving back creates a stronger community, stronger customers, and a stronger bank, McGovern said. McGovern has grown a $1.5B bank Mary McGovern President & CEO Country Bank, in Ware Residence: Wilbraham Education: Bachelor's degree from Emman- uel College and MBA from Babson College Who is your hero? My mother. She came from very humble beginnings, managed to put her education first, and went to school to become a registered nurse. She married my father, had nine children, and still contin- ued to work the night shift. She taught her children the importance of education and hard work. Since you started your career, how have things changed for women in the profes- sional world? Things have changed for the better. During my 30+ years in the banking industry, I have seen more representation of women in leadership. Women are mentoring other women to get them to the next level. Becoming the first female president of Coun- try Bank in its 174-year history demonstrates that change. What obstacles do women in the work- place face today? There is still underrep- resentation of women in executive roles, childcare struggles, gender bias, and wage inequality. The glass ceiling still exists in many industries. There has been progress to lessen these obstacles, but there is more work to be done to even the gender equality in the workplace. PHOTO | MATT WRIGHT 20 Worcester Business Journal | September 30, 2024 | wbjournal.com

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