Thomas W. Kelly, president & CEO of Hoosac Bank and chairman & CEO of MountainOne Financial Partners, MHC, has announced that he will be leaving his current positions, effective October 31.
Kelly will become president & CEO of Bank of Newport, the oldest mutual savings bank in the nation, which has ten branches, approximately $800 million in assets, and insurance and investment subsidiaries. Bank of Newport is headquartered in Newport, Rhode Island.
Kelly joined the former North Adams Hoosac Savings Bank in February 1997 as executive vice president and COO, becoming president and CEO in June 1998. During his tenure, Hoosac Bank grew from $178 million to $281 million in assets, acquired Coakley, Pierpan, Dolan & Collins Insurance Agency, Inc. and True North Financial Center, added drive-thru banking in North Adams, expanded product offerings and, together with Williamstown Savings Bank, formed MountainOne Financial Partners, MHC.
An avid sailor, Kelly and his wife, Phyllis, will move closer to their daughter, who lives in the Boston area. Regarding his decision, Kelly said. "I have only good things to say about my years with Hoosac Bank and the wonderful support I received from board members, staff, customers, and the community as a whole. The fact that I was actively recruited for this new position is a tribute to the success of Hoosac Bank over the past several years and the regional and national recognition we received. I am very proud of the management team we have built, and I expect great things from Hoosac Bank in the future."
Stephen M. Long, Jr. senior member of the Hoosac Bank board of directors, said, "Tom Kelly has been an exceptional president and CEO. His thorough grasp of issues and opportunities within the banking industry has allowed Hoosac Bank to build up on its 150 year reputation as an outstanding corporate citizen in Berkshire County. We will miss his inspired leadership but balance that with the knowledge that he leaves Hoosac Bank fiscally strong and well positioned for the future. Both Tom and Phyllis have made a significant difference in the economic, cultural and educational life of the Berkshires."
Founded in 1848, Hoosac Bank offers a wide array of banking services to individuals and businesses through offices in North Adams and Williamstown. Coakley Pierpan, Dolan & Collins Insurance Agency, Inc., established in 1997, provides comprehensive investment, financial planning, employee benefits and life insurance services to individuals and businesses through offices in North Adams and Williamstown.
If you would like to contribute information on this article, contact us at info@iberkshires.com.
Your Comments
iBerkshires.com welcomes critical, respectful dialogue. Name-calling, personal attacks, libel, slander or foul language is not allowed. All comments are reviewed before posting and will be deleted or edited as necessary.
No Comments
Berkshire Food Project Closed for Power Issues
NORTH ADAMS, Mass. — The Berkshire Food Project is closed Monday because of a power outage early in the morning.
"We are unable to get proper electricity and heat to the building," according to Executive Director Matthew Alcombright. "We hope that this can be resolved and be open tomorrow."
The project does have some sandwiches and frozen meals that will be distributed at the entry.
The city has lifted a boil water order — with several exceptions — that was issued late Monday morning following several water line breaks over the weekend. click for more
The bridge had been closed to all vehicle traffic since March 2023 after being deemed structurally deficient by the state Department of Transportation. click for more
