Management

Michael J. Jones
President and Chief Executive Officer

Michael J. Jones is only the 16th president in the 196-year history of the Institution for Savings. As the leader of strategic planning and development, Mike is charged with ensuring that the Bank attains its vision of positively affecting the lives of every person, business and organization within the communities it serves.

With more than 20 years of banking and financial experience, Mike served as President and CEO of Ipswich Co-operative Bank from 2002 until July of 2007 when the two banks merged into the Institution for Savings. Mike joined the Ipswich Co-op in 1999 as Treasurer and Chief Financial Officer, and was appointed its Executive Vice President in 2000. Earlier, Mike was the Controller for Stoneham Bank, and also worked for MetroWest Bank and Wolf & Company.

Mike holds a master's degree in Business Administration and is a Certified Public Accountant as well as a member of the Massachusetts Society of CPAs. He is also a member of the Ipswich Affordable Housing Trust and the Ipswich Affordable Housing Partnership.

 

Kimberly A. Rock
Executive Vice President and Chief Operating Officer

In her role as Executive Vice President and Chief Operating Officer Kim oversees the day to day operations of this $2.6 billion Bank. Kim has spent her entire professional career with the Institution for Savings. She joined the Bank in 1984 as a Teller and was promoted to Assistant Manager of the Storey Avenue Office in 1992. In 1993, she became the Storey Avenue Office Manager and Assistant Treasurer, and was later elevated to Vice President in 2004. She was promoted to Senior Vice President in 2007 and elected to her current position and a Trustee of the Bank at its 2009 Annual Meeting. She assumed her current position in July 2010.

Kim is active in the community, serving as Treasurer of the Putnam Free School Foundation , a member of the Triton Education Foundation, on the Board of the North Shore YMCA and Trustee of the Mary Alice Arakelian Foundation.

 

David E. Boudreau
Senior Vice President, Commercial Lending

 

With 30 years of business banking experience, Dave manages a solid portfolio of commercial relationships for the Institution for Savings while continuing to help businesses of all sizes navigate the myriad of financing options to achieve their goals. He has been with the Institution for Savings since 2006 and previously held similar positions to TD Bank and other North Shore banks. Daveís knowledge of the local market, coupled with his extensive experience in commercial financing, is an enormous asset to businesses of all sizes contemplating their borrowing needs.

David holds a Bachelorís degree and an MBA and has completed a number of banking and finance programs. He is active in numerous local Chambers of Commerce and business organizations.

 

Stephen P. Cote
Senior Vice President, Treasurer and Controller

Stephen has more than 30 yearsí experience in the banking industry, primarily in accounting and finance.  He joined the Institution for Savings in July of 2007 when it merged with the Ipswich Co-operative Bank and where he held the position of Chief Financial Officer and Treasurer.  He joined the Ipswich Co-operative Bank in 2000 as Assistant Treasurer and was promoted in 2001.  Earlier in his career, Stephen worked for Mount Washington Bank, Stoneham Bank, and MetroWest Bank.  He holds a Bachelor's degree in Finance and an associate degree in Accountancy as well as an advanced graduate school of banking degree.

Along with serving as the Bankís Treasurer, Steve is the Treasurer for the Bankís Charitable Foundations, sits on the Bankís scholarship committee, and is active in local communities.

 

Patricia A. Ferguson
Senior Vice President, Human Resources and Administration

In her role as Senior Vice President of Human Resources and Administration, Tricia manages the day-to-day staffing and benefit plans for the Bank's employees, as well as serves as the Bank's Compliance Coordinator. She began her banking career at the Boston Five Cents Savings Bank as a Teller, then joined the Institution for Savings team in 1989, rising through the ranks from Main Office Teller to Mortgage Processor to Human Resources Officer. She was elevated to Vice President in 2003 and to Senior Vice President in July 2007.

Tricia is a past Board member of the Jeanne Geiger Crisis Center and active in the local Chambers of Commerce. She holds a Bachelorís degree and  has completed a number of banking and finance courses.

 

Thomas M. Hopp
Senior Vice President and Chief Information Officer

In today's fast-paced world, information technology is critical to a Bank's success, and Tom ably leads the charge in this area for the Institution for Savings. In his role, Tom oversees the day to day planning and operations of the Bank's extensive state of the art computer and communications applications and infrastructure for the Bank's busy offices.

Tom joined the Institution for Savings in April of 2003 as Systems Support Specialist.  He was promoted to Vice President of Information Technology in 2008 and to Senior Vice President and Chief Information Officer in 2013. Previously he worked for Celarix.com as a Data Quality Specialist. Tom holds a Bachelorís degree as well as an  MBA.  He holds a number of specialty certifications, including CISSP Certified Information Systems Security Professional; CCISO Certified Chief Information Security Officer; CEH Certified Ethical Hacker; MCSE Microsoft Certified System Engineer and MCSA Microsoft Certified System Administrator.

 

Lawrence R. Hunter
Senior Vice President, Residential Lending, NMLS#605007

Larry has experience with all types of residential, consumer and commercial lending. He joined the Institution for Savings in July of 2007 when it merged with the Ipswich Co-operative Bank, and where he held a similar position since 2003. In 2013, Larry was promoted to Senior Vice President. Prior to joining the Ipswich Co-operative Bank, Larry was Vice President of Loan and Credit Administration at First & Ocean National Bank in Newburyport. Earlier in his career, he was Vice President of Small Business Lending at the First National Bank of Ipswich, and before that, with Sears Credit. He holds a Bachelorís degree as well as an advanced banking degree.

Larry is a member of the Rotary Club of Newburyport and active in various community organizations.

 

Robert C. LeGallo, CPA
Senior Vice President and Chief Financial Officer

As Senior Vice President and Chief Financial Officer, Rob's primary responsibilities are to direct the internal and regulatory financial reporting of the Bank, including preparation of monthly financial reporting for the Bank's Board of Trustees, and coordinate the annual external audit. Rob joined the Institution for Savings as Assistant Vice President and Controller when it merged with the former Ipswich Co-operative Bank in 2007. Before joining the Ipswich Co-operative Bank in 2004, he was a senior auditor for Wolf & Company, a certified public accounting and business consulting firm.

Rob holds a Bachelorís degree and is a certified public accountant.

 

Karen A. MacCormack
Senior Vice President, Senior Lender, Commercial Lending

As Senior Vice President of Commercial Lending, Karen manages the Bankís knowledgeable and professional Commercial Lending team as well as her own diverse portfolio of commercial loans. Based at the Bankís Commercial Lending Center located at 312 Haverhill Street in Rowley. Karen has more than 35 years of lending experience, the last 17 years with the Institution for Savings and Ipswich Co-operative Bank.

Prior to 1997, Karen was Vice President of Commercial Lending at the Ipswich office of First National Bank of Ipswich for 7 years and she worked at Boston Federal Savings Bank for 12 years.

Karen is a member of the Ipswich Family YMCA Board and Finance Committee.

 

Anna L. Makos
Senior Vice President, Residential Lending, NMLS#605006

As a longtime employee of the Institution for Savings, Anna is one of the most knowledgeable and experienced members of the Bank's management team and well-versed in all facets of the Bank's lending operations. Anna joined the bank in 1983 and since that time has been instrumental in managing a very significant loan portfolio.

Anna became a Mortgage Officer in 1996, was promoted to Senior Mortgage Officer in 2003 and Assistant Vice President in 2004.  In 2007 she was promoted to Vice President and in 2013 to Senior Vice President. Anna serves on the Board of Turning Point, Inc.

 

Tammy A. Roeger
Senior Vice President, Retail Banking

With more than 20 years of experience in banking, Tammy oversees the day to day operation and oversight of the Bank's extensive branch and retail banking operations. Tammy joined the Institution for Savings in July of 2007 when the Bank merged with the Ipswich Co-operative Bank, where she held the same position since October of 2004. Prior to joining the Ipswich Co-operative Bank, she was the Vice President of Branch Administration at First & Ocean National Bank in Newburyport. Earlier in her career, Tammy worked at Shawmut Bank where she held various retail banking positions.

Tammy has completed a number of banking courses and  serves on the Board of the Newburyport Learning Enrichment Center at Kelleher Park.

 

Karl R. Wilson
Senior Vice President, Commercial Lending

Karlís 30 years of commercial lending and business development experience is a great asset to the Bankís busy commercial lending division. Karl joined the Institution for Savings in October of 2013. Before joining the Bank he held a similar position at North Shore Bank where he managed a $55 million corporate loan portfolio. Previously, he was also Senior Vice President of Commercial Lending at Century Bank.

Karl holds a Bachelorís degree  and an MBA in Finance. He is a Board Member, Vice President and past President and Treasurer of Citizens for Adequate Housing; current member and past Chairman of YCC North Shore District Finance Committee,  and on the Board of the Beverly Childrenís Learning Center.

 

Christine N. Allen
Vice President, Information Technology

In todayís tech-savvy banking world, maintaining state of the art and secure information technology systems is critical. In her role as vice president of information technology, Christine oversees the security of the Bankís server and network infrastructure to ensure that the Bankís technology is safe and protected.

Christine joined the Institution for Savings in 2010 as senior systems engineer and was promoted to assistant Vice President in 2012. In 2016 she was promoted to Vice President. Christine holds a Bachelorís degree as well as a number of certifications including Systems Security Certified Practitioner (SSCP), Comp TIA Security+, and Microsoft Certified System Engineer (MCSE).

 

Wesley R. Barry
Vice President, Retail Banking

As Vice President of one of the Bank's busiest departments, Wes works closely with the Senior Vice President of Retail Banking to manage the day-to-day operation and oversight of retail banking services, as well as the Individual Retirement Account (IRA) department. Wes joined the Institution for Savings in 2004 as Assistant Manager and New Accounts Representative in the Storey Avenue Newburyport office. He became the bank's Personal Banker in 2005, and in 2007 was promoted to Assistant Vice President of Retail Banking. Wes was promoted to Vice President in March 2010.

Wes holds a Bachelorís degree and has completed numerous banking and finance courses.
 

Mary Anne Clancy
Vice President, Communications

As Vice President of Communications, Mary Anne is charged with the day-to-day planning and implementation of the bank's advertising, public relations and community outreach efforts. She has more than 25 years of experience in marketing and communication with an emphasis on financial services, including Assistant Vice President of Marketing and Public Relations for the former First & Ocean National Bank. She also ran her own freelance marketing business, Writing Etc., and earlier in her career was a public relations account executive with Mullen of Wenham.

Mary Anne joined the Institution for Savings in 2006 after serving a term as Mayor of the City of Newburyport. She is active in the community, including a Corporator of Anna Jaques Hospital, on the Board of Directors for the Firehouse Center for the Arts, on the Board of the North Shore Chamber of Commerce,  on the Economic Development Action Committee of the Greater Newburyport Chamber of Commerce & Industry, and chair of RESTORE, a non-profit committee that raised funds to renovate World War Memorial Stadium. She is also a founder and past Board member of the Newburyport Education Foundation and served on the Newburyport School Committee for 10 years.

 

Rebecca L. Collins
Vice President, Finance

As Vice President of Finance, Becky works closely with the Chief Financial Officer and Controller to oversee the day to day operations of the Bank's busy finance department. Becky joined the Institution for Savings in 2004 as a Financial Analyst in the Main Office. She was promoted to Assistant Vice President in March 2007 when the Bank merged with the Ipswich Co-Operative Bank and relocated the finance division to the Depot Square Ipswich Office. In March 2012 she was promoted to Vice President.

Becky holds a Bachelorís degree in Accounting. She serves on the Board and sits on the Finance Committee of the Jeanne Geiger Crisis Center.

 

Rebecca L. Conary
Vice President, Retail Operations

As the overseer of one of the busiest and most important areas of the Bank, Becky manages the day-to-day Deposit Services group which handles all of the Bankís telephone customer service functions. Like several other key members of the Bank's management staff, Becky has spent her professional career with the Institution for Savings. After receiving her associate degree in Business Management, she joined the Institution for Savings as a teller. Becky was promoted to Assistant Vice President and Manager of the Newburyport Storey Avenue Office in 2004, and elevated to Vice President of Retail Operations in 2009.

Becky serves on the Board of the Boys and Girls Club of Lower Merrimack Valley.

 

Katrina P. Cutts
Vice President, Commercial Lending

With over 25 years of experience in financial services, Nina works closely with the other members of the Bankís commercial lending team to  grow the Bankís commercial real estate, construction and loan portfolio in Massachusetts and southern New Hampshire.

Nina joined the Institution for Savings staff in 2014 from The Provident Bank where as Vice President of Commercial Lending she managed an $82 million commercial loan portfolio, the largest in the bank. Previously she held a similar position at TD Bank in Portsmouth, NH.

Nina holds a Bachelorís degree and serves on the Board of the Coastal Economic Development Corporation, a non-profit regional economic development corporation serving the greater Seacoast area

 

Melissa W. LeBel
Vice President, Branch Administration and Training

With more than 30 years of banking experience, Melissa supervises the Bank's busy retail offices as well as manages the training program. She joined the Bank in 2004 as manager of the Main Office after 19 years at TD Bank North, where she was Vice President of Business Development and Retail Management. In 2006, Melissa became the first-ever manager of the Bank's new office in Salisbury Square. Prior to her promotion to Vice President in March 2010, Melissa managed the Bank's Storey Avenue/Newburyport office.

Melissa holds an associate degree and  serves on the Board of Directors of Opportunity Works, Inc.

 

John A. LeBlanc
Vice President, Loan Operations

As Vice President of Loan Operations, John manages and directs the servicing of the Bankís extensive residential and consumer loan portfolio.  Before joining the Institution for Savings in August 2013, John was with St. Maryís Credit Union for six years where most recently he was Vice President of Operations.  Johnís previous loan experience included Union Trust Mortgage, Cambridgeport Bank and the Stoneham Cooperative Bank.

 

Bruce P. Macdonald
Vice President, Branch Administration

As Vice President of Branch Administration, Bruce is charged with overseeing the day-to-day operations of the Bankís busy Rockport, Gloucester and Beverly offices.

Bruce joined the Institution for Savings in 2011 as Assistant Manager of the Salisbury Office, promoted to Salisbury Manager in 2013 and assumed his current role as Vice President of Branch Administration in March of 2015. Before coming to the Institution for Savings, Bruce served as manager of the First National Bank of Ipswich (now First Ipswich)ís Main and Rowley Offices.

Bruce holds a Bachelorís degree and is active in a number of community organizations and events.

 

Caroline M. Meagher
Vice President, Electronic Banking

As Vice President of Electronic Banking, Caroline oversees three key areas of the Bank's delivery services: Internet Banking, Bill Pay and Mobile Banking. She also assists in the day to day operations of the busy Deposit Services group. Caroline began her career with the Institution for Savings in 1994 as a weekend teller and advanced to the core processing division in 2000 where she worked through 2009. She was promoted to Vice President of Core Processing in 2007 and in early 2010 assumed her current position as Vice President of Electronic Banking.

Caroline holds a Bachelorís degree in Business Administration with a concentration in Finance. She serves on the Board of Directors of the Pettengill House.

 

Lori G. Rostkowski
Vice President, Commercial Lending

An experienced credit administrator with the former Rockport National Bank, Lori joined the Institution for Savings commercial lending team when the two banks merged in August 2014. Lori currently manages a portfolio of commercial loans for customers on Cape Ann and originates and services new commercial loans. Prior to joining the Bank, Lori served as Financial Manager at Hasbro Interactive of Beverly.

Lori holds a Bachelorís degree in Business Administration and has attended numerous commercial lending and financial training workshops and seminars

 

Christopher R. Sullivan
Vice President, Residential Lending, NMLS#605009

 

As Vice President of Residential Lending, Chris has been a strong contributor to the Bankís reputation as one of the areaís strongest residential lenders.  Chris joined the Institution for Savings in 2006 from the Newburyport Bank where he was a loan officer for 10 years.  Before that he was a collection officer for the Credit Bureau of Greater Newburyport. He is also a former Newburyport City Councilor and Mayor.

Chris served United States Navy ranked as Navy Chief, retiring in 2006 after 26 years of service. He completed a number of banking courses and is a class agent with the Newburyport Education Foundation as well as on the Board of Directors of the Greater Newburyport Chamber of Commerce & Industry, and the Anna Jaques Hospital Community Health Foundation.

 

Nancy J. Taylor
Vice President, Residential Lending, NMLS#462424

 

One of the Bankís busiest and most productive residential lenders, Nancyís focus is to provide customers with outstanding personal service delivered with some of the most competitive mortgage rates in the area. Nancy joined the Institution for Savings team in 2013 as Mortgage Officer and was promoted to Vice President in 2016. She holds a Bachelorís degree as well as her Juris Doctorate, and has completed numerous banking courses. She also holds a Mediation Certification from the Commonwealth of Massachusetts.

Nancy has been very involved in her community.  She is a co-founder and former President of the Triton Education Foundation and a member of the Town of Newbury Library Building Committee.  She currently volunteers as a Mediator at Newburyport District Court and is on the Board of Coastal Homebuyers Education Inc. and the Howard Benevolent Society.