MANAGEMENT

Mark F. Welch
President and Chief Executive Officer

Mark F. Welch has served as Chairman and President of the Institution for Savings since March of 2004. As the leader of strategic planning and development, Mark 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.   ...Read More

Michael J. Jones
Executive Vice President, Chief Operating Officer, and Chief Financial Officer

In his role as Executive Vice President, Chief Operating Officer and Chief Financial Officer, Mike oversees the daily financial functions as well as the day to day operations of this $870 million bank. With more than 17 years of banking and financial experience, most recently he served as President and CEO at Ipswich Co-operative Bank, a position he held 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.   ...Read More

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's 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.   ...Read More

Karen A. MacCormack
Senior Vice President, Residential and Commercial Lending

As Senior Vice President of Residential and Commercial Lending, Karen is charged with overseeing all aspects of lending operations and functions throughout the bank. With more than 25 years of experience in banking, Karen joined the Institution for Savings in 2007 when the bank merged with the Ipswich Co-operative Bank.   ...Read More

Kimberly A. Rock
Senior Vice President, Retail Banking

As one of the bank's most senior employees, Kim has spent her entire professional career with the Institution for Savings, moving up through the ranks to her current position as Senior Vice President in charge of the bank's branch and personal deposit operations. Kim joined the Institution in 1984 as a Teller and was promoted to Assistant Manager of the West office in 1992. In 1993, she became the West Office Manager and Assistant Treasurer, and was later elevated to Vice President in 2004. She was promoted to Senior Vice President in 2007.  ...Read More

David E. Boudreau
Vice President, Commercial Lending

With more than 20 years of business banking experience, David is a key member of the Institution for Savings' Commercial Lending team, offering a full range of financing choices to businesses in Newburyport, Salisbury, Rowley, Newbury, West Newbury, Amesbury and the surrounding communities. Before joining the Institution for Savings in 2006, David was Vice President of Commercial Lending at TD BankNorth's Newburyport office. Before that, he held similar positions at Revere Federal Savings and Medford Savings Bank. His 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.  ...Read More

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 20 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.   ...Read More

Stephen P. Cote
Vice President, Finance and Treasurer

Stephen has more than 20 years experience in accounting and finance, 19 years of which are in banking industry. 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 Mt. Washington Bank, Stoneham Bank, and MetroWest Bank. He holds a Bachelor's degree in Finance and an Associate's Degree in Accountancy from Bentley College, and holds an advanced degree from the Graduate School of Banking at the University of Wisconsin-Madison.   ...Read More

Lawrence R. Hunter
Vice President, Lending

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. 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. A graduate of Gordon College in Wenham, Larry holds an advanced degree from the Graduate School of Banking at the University of Colorado.   ...Read More

Anna L. Makos
Vice President, Residential Lending

As a 24-year 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. She became a Mortgage Officer in 1996, was promoted to Senior Mortgage Officer in 2003, and then named Assistant Vice President in 2004. Anna was named Vice President in 2007.   ...Read More

Caroline M. Meagher
Vice President, Systems

In today's technologically intensive world of banking and finance, there are few busier bank employees than Caroline. Overseeing a staff of three, Caroline manages the information systems for all bank operations, including its six busy banking offices. Caroline started as a Weekend Teller at Institution for Savings in 1994 and joined the systems department in 2000. She was promoted to Vice President in 2007.   ...Read More

Tammy A. Roeger
Vice President, Retail Banking

With more than 17 years of experience in banking, Tammy assists the Senior Vice President of Retail Banking with 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.   ...Read More