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.

Mark is only the 15th president of the Institution for Savings since it was founded in 1820, and continues its longstanding tradition of promoting leaders from within the bank's talented management staff. Prior to becoming President, Mark held a number of positions since joining the bank in 1975. He began as the bank's first-ever Mortgage Officer, and went on to manage the Lending Department for nearly 2 decades. In 2001, he was promoted to Executive Vice President and Chief Operating Officer, a position he held until he was elected President and Chief Executive Officer by the Board of Trustees in 2004.

Mark is active in the community, both professionally and personally. In his capacity as President and CEO, he is also president of the bank's Charitable Foundation, which has granted nearly $2 million to community causes since its founding in 1997. Mark is also President of the Mary Alice Arakelian Foundation; on the Board of Directors for Anna Jaques Hospital; Trustee of the Putnam Scholarship Foundation; member of the Independent Community Bankers of America (ICBA), serving on its Mutual Advisory Committee; past Chair of the Greater Newburyport Chamber of Commerce & Industry; and past Chair of the Board of Directors of the Society for the Development of Arts and Humanities (SDAH) of Greater Newburyport.

Mark holds a BS/BA in business management from Stonehill College and is a graduate of the National School of Banking at Fairfield University.