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Lowell Five Announces CEO Succession and Promotions

At the annual meeting of Lowell Five Bank on February 13th, Robert A. Caruso, Chairperson of the Board of Directors announced that David E. Wallace will be stepping down from his position as Chief Executive Officer effective April 2nd.  Mr. Wallace will remain active with the Bank as a Director and will serve on various Committees.  Bank President Jason (Jay) K. Stephens, CPA, will succeed Mr. Wallace as CEO.

David Wallace remarked, “Like all well-managed organizations, the Bank has comprehensive long-term succession plans, especially for top management.  Having been with the Bank for 25 years we have planned for my succession and the transition to Jay’s leadership.  The Bank has experienced yet another record year of performance and Jay has been instrumental to our exceptional performance.   He is an outstanding leader and his experience and oversight of a myriad of functions and facilitating strategic initiatives will further the Bank’s progress to achieving new levels of success as the President and Chief Executive Officer.”

“I am honored by the trust and confidence David, Bob, and the Board of Directors have placed in me, and privileged to be following David, who has taken the Bank to great heights over his tenure,” said Stephens.  “As the new steward, I am committed to continuing the excellence Lowell Five has achieved.”

In addition to Mr. Stephens being named Chief Executive Officer, several promotions were announced at the Annual Meeting:

Promoted to Chief Banking Officer
Alison E. Kalman, Executive Vice President

Promoted to Executive Vice President
Glenn B. Goldman, Chief Risk Officer

Promoted to Senior Vice President
Thomas G. Hosey, Risk, and Bank Secrecy Act
Colleen M. Beaumont, Cash Management
Cheryl A. Popp, Business Development
Christopher J. Wilcox, Commercial Loan Officer

Promoted to Vice President
April L. Aponte, Collections
Belinda M. Morang, Branch Manager
Karen K. Mahoney, Branch Manager
Allyson M. Thibeault, Branch Manager
Michael J. Sheahan, Branch Manager                                                                                                           
Rita M. Sheahan, Branch Manager
Linda A. Firth, Branch Manager
Maria Garay Dodd, Branch Manager
Patricia A. Lelos, Branch Manager
Kelly M. Frederick, Branch Manager
Yanelly Toribio Cruz, Branch Manager
Maria Consoli, Branch Manager
Sara M. Gagne, Branch Manager
Dawn M. Boyle, Branch Manager

Promoted to Assistant Vice President
Ana P. Silva, Client Service Center
Jennifer S. Jackson, Compliance

Promoted to Officer
Ashley Pimental, Client Service Center Assistant Manager
Elizabeth A. McArdle, Assistant Branch Manager
Renee D. Desrochers, Assistant Branch Manager
Nara Chuon Uy, Assistant Branch Manager
Cherie N. Farina, Assistant Branch Manager
Mandy L. Wray, Assistant Branch Manager
Leigh C. Jaynes, Assistant Branch Manager
Lisa M. Goodwin, Assistant Branch Manager
Shelley A. George, Assistant Branch Manager
David J. Dull, Assistant Branch Manager
Ashley L. LaBonte, Assistant Branch Manager
Lyndsey Jo Sullivan, Assistant Branch Manager
Kimberly M. Marchand, Assistant Branch Manager
Michelle R. Raffaelo, Assistant Branch Manager