Nina P. Cutts Joins Institution for Savings as Vice President of Commercial Lending
Nina P. Cutts has joined the Institution for Savings as Vice President of Commercial Lending, announced President and CEO Michael J. Jones recently. In her new position she will work closely with the Institution for Savings’ commercial lending team to expand the Bank’s growing commercial real estate, construction and commercial and industrial portfolio throughout Massachusetts and southern New Hampshire.
Ms. Cutts has more than 25 years of experience in banking, lending and financial services. Before coming to the Institution for Savings, she was the Vice President of Commercial Lending at The Provident Bank in Amesbury where she managed an $82 million commercial loan portfolio. Before that Ms. Cutts held a similar position at TD Bank in Portsmouth, NH.
“We are extremely pleased to welcome Ms. Cutts to our high-performing commercial lending team,” said Mr. Jones. “Nina has a very strong and impressive track record in commercial lending and portfolio management, and is familiar with our markets, particularly the Seacoast and southern New Hampshire areas. Her knowledge and personal style of banking will be a great asset to the Bank as we look to exceed last year’s record-breaking year in our commercial lending division in 2014.”
Ms. Cutts graduated from the University of Massachusetts at Amherst. Currently she is on the Board of the Coastal Economic Development Corporation, a non-profit regional economic development corporation serving the greater Seacoast area. She resides in Kittery Point, ME with her husband, Rich Cutts.
Ms. Cutts can be reached by calling her direct line at 978-312-6811 or via email by clicking here.
Institution for Savings Topsfield Office Deposits Reach $50 Million in First 6 Months
After opening its doors just a little more than six months ago, the Institution for Savings’ newest banking office located at 5 Main Street in Topsfield has already exceeded $50 million in deposits, announced President and Chief Executive Officer Michael J. Jones recently. This milestone is particularly impressive given the growing national trend for banks to close offices rather than open new ones.
“While we enthusiastically embrace and encourage alternative banking channels such as internet and mobile banking, I firmly believe that conveniently located offices and our personal style of banking continues to be most important to customers. That certainly has proven true in Topsfield,” said Mr. Jones.
Institution for Savings Rowley Office Deposits Top $200 Million
At a time when the growing national banking movement has seen either stagnation or a decline in deposits, the Rowley Office of the Institution for Savings is defying that trend, recently exceeding the $200 million milestone in total deposits just six years after opening its doors.
“We are very happy to see the phenomenal growth that this location has experienced in the last six years,” said Institution for Savings President and CEO Michael J. Jones. “I believe it proves that our brand of personal, professional attention to our customers, coupled with great products, great rates, low fees and community support is exactly what customers are looking for in a bank.”
Bank Trustee Thankful to be Here
Excerpted from the Daily News, November 28, 2013
Jim Vaiknoras/staff photo.
Dr. Saira Naseer-Ghiasuddin, an internist at the Anna Jaques Hospital, came to the U.S. from Pakistan.
Dr. Saira Naseer-Ghiasuddin, an internist with an office on Green Street and patient privileges at Anna Jaques Hospital, has come a long way from her home in Lahore, Pakistan.
But the energetic physician would have it known that despite the occasional harrowing headline, Pakistan is a nation where girls and women have many opportunities to pursue their dreams.
Institution for Savings Named #1 Medium Employer in Massachusetts
The Institution for Savings has been named as the #1 Medium Employer in Massachusetts in The Boston Globe’s annual Top Places to Work Survey, announced the Globe’s Publisher Christopher Mayer. The announcement was made on November 14th at a reception hosted by The Globe at Boston’s Seaport Hotel and will be featured in the Top Places to Work 2013 magazine that will be published in the paper on Sunday, November 17th . Online, the report can be found by clicking here.
This is the sixth consecutive year that the Bank has made the list and the second time that it has ranked number one. It was named number one Small Employer in 2011.
Karl R. Wilson Joins Institution for Savings as Senior Vice President of Commercial Lending
Karl R. Wilson has been hired as Senior Vice President of Commercial Lending, announced Institution for Savings President and Chief Executive Officer Michael J. Jones.
Mr. Wilson has nearly 30 years of commercial lending and business development experience, with a strong emphasis on the North Shore. Before joining the Institution for Savings he held a similar position at North Shore Bank where he managed a $55 million corporate loan portfolio. Previously, Mr. Wilson was also Senior Vice President of Commercial Lending at Century Bank.
John A. LeBlanc Joins Institution for Savings as Vice President of Loan Operations
The Institution for Savings recently hired John A. LeBlanc as Vice President of Loan Operations, announced President and Chief Executive Officer Michael J. Jones. In that role, he will manage and direct the servicing of the Bank’s residential and consumer loan portfolio.
Mr. LeBlanc joined the Institution for Savings from St. Mary’s Credit Union where he worked for six years, most recently as Vice President of Loan Operations. His previous loan experience was at Union Trust Mortgage, Cambridgeport Bank and the Stoneham Cooperative Bank.
Institution for Savings Donates $500,000 for New Library in Salisbury
Further solidifying its long-standing commitment to the Town and residents of Salisbury, the Institution for Savings has pledged $500,000 towards the construction of the new public library, announced President and CEO Michael J. Jones.
“When we opened our Salisbury office in 2006 we pledged to become a true partner with the Town of Salisbury and to positively affect the lives of every person, business and organization in this great community,” said Mr. Jones. “I can think of few better ways to do that than to help fund this much-needed new library – a place that can be used by virtually every Salisbury resident. We are thrilled to be able to help.”
Boston Business Journal Executive Profile on Michael Jones
Jones Charts Growth for Long Haul . . . The executive offices at Massachusetts banks aren't exactly full of young faces. So three years ago, when Michael Jones became president at the Institution for Savings in Newburyport at 42, his board and his fellow bank employees were a little skeptical.
Bank Donates Funds for Topsfield’s Korean War Veterans Memorial
Local veterans gathered with representatives from the Institution for Savings at the recently dedicated Korean War Veterans Memorial on Veterans Green in Topsfield. The Bank donated funds for the monument which recognizes the “Forgotten War" in which 44,000 Americans were killed, as well as honors the only Topsfield casualty, PFC John Anthony Steline.
Pictured from left to right: Henry Steline, brother of PFC John Anthony Steline; Ryan Burke, West Point Military Academy Class of 2017; Dave Comeau, Commander, Topsfield American l Legion; Paula Burke, mother of Ryan Burke; Norm Eisler, Topsfield Historical Society; Michael Jones, Institution for Savings President and CEO; Kimberly Rock, Executive Vice President and COO; and Suzanne Bradford, Topsfield office Manager.
Institution for Savings Posts Third Consecutive Year of Record Earnings
For the third consecutive year the Institution for Savings posted record earnings for 2012, reporting $17.2 million in net income, announced President and Chief Executive Officer Michael J. Jones at the Bank’s 193rd Annual Meeting. The event was held on March 11 at Black Swan Country Club with 240 of the Bank’s Corporators and Employees attending.
The $17.2 million in net earnings, an increase of $1.2 million over 2011, was the highest in the Bank’s 192-year history. Total assets increased $102 million, or 8 percent, reaching $1.4 billion. The majority of the growth was in the Bank’s lending portfolio which increased $113 million or 15 percent.
Institution for Savings Educational School Banking Office Opens at Masconomet Regional High School
High school students now have a unique opportunity to learn firsthand what it takes to be bankers at the Educational School Bank of the Institution for Savings which recently opened within Masconomet Regional High School.
The School Bank, located near the school store and cafeteria, has been completely renovated into a working facility, with hardwood floors, granite countertops and a check counter. The Masconomet Educational School Bank is a full service retail banking office approved by the Federal Deposit Insurance Corporation (FDIC) and Massachusetts Division of Banks. The School Bank is staffed by Supervisor Donna Emerzian who is in the process of training students to work at the Bank. It offers checking, savings, student ATM cards and other personal banking products and services to students and faculty members and from 10:30 a.m. -2:30 p.m. when school is in session.
Bruce Macdonald Promoted to Manager of Institution for Savings' Salisbury Office
Bruce P. Macdonald has been promoted to Manager of the Institution for Savings’ Salisbury Square Office, announced President and Chief Executive Officer Michael J. Jones today. Mr. MacDonald succeeds April Shonkwiler who is relocating with her family out of state.
Mr. Macdonald joined the Institution for Savings in June of 2011 as Assistant Manager of the Salisbury Square Office. Before that, he was Branch Manager at several locations for the former First National Bank of Ipswich. Earlier in his career, he was employed at Brookline Savings Bank.