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MountainOne President Leaving for Vermont Institution

04:18PM / Monday, August 25, 2014
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NORTH ADAMS, Mass. — The president of MountainOne is returning to Vermont.

Northfield Savings Bank on Monday announced that Thomas S. Leavitt would become the company's 14th president and chief executive in a notice posted on Vermont Business. He was on the senior management team of Vermont's Merchants Bank for 16 years.

"Northfield Savings Bank is one of New England's premier mutual banking companies. Its long commitment to the well-being of the Green Mountain State is tops," Leavitt said in a statement. "I look forward to coming home to serve the interests of our customers and communities."

The 150-year-old Northfield, a $750 million mutual institution, has 13 branches throughout Central Vermont and Chittenden County.

Leavitt has been CEO and president of MountainOne Bank and Financial Partners for two years. MountainOne Chairman Daniel Bosley said Leavitt will be leaving the company Sept. 25.

"On behalf of the MountainOne board and corporators, I wish to thank Tom for his service to our company and communities in the Berkshires and Eastern Massachusetts. He has worked hard with our management team and board to unify our structure and lead a coherent strategy of growth," Bosley said in a statement. "We will miss his leadership, but feel we have a strong organization to carry our many exciting initiatives forward."

Bosley described Leavitt's departure as "a rare and unexpected opportunity to lead another quality institution" in the Green Mountain State.

He led the advancement of MountainOne Bank along with its insurance and investment divisions Coakley, Pierpan, Dolan & Collins, True North Insurance and True North Financial, said Bosley.

Leavitt said it was a privilege to work with MountainOne and was grateful for the board's "steadfast dedication to the very best practices of governance." He said he would be cheering the banking institution along from his new post in Vermont.

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