Photo Courtesy of The Cooperative Bank of Cape Cod
The Cooperative Bank of Cape Cod has appointed Erik Porter to be its next president and chief executive officer. He will succeed current President and CEO Lisa Oliver upon her retirement in October.
Porter has served as the bank’s chief financial officer since 2023. He has more than two decades of experience, the bank said, having also held senior leadership roles at Metro Credit Union, Cape Cod Five, CFGI, Wainwright Bank & Trust and Wolf & Company P.C.
In his new role at The Coop, Porter will assume responsibility for the ongoing strategic direction, financial performance, operational excellence, sustainable growth and community engagement for the bank. He has taken a lead role in developing the bank’s current strategic plan, the bank said in its announcement, including the recent launch of the bank’s new online banking system.
“I am honored and humbled to serve as the next leader of The Cooperative Bank of Cape Cod, an admired community institution and trusted financial partner of local residents and businesses for more than a century,” Porter said in a statement. “I am grateful to the bank’s board of directors for their trust in my capabilities and experience, and Lisa Oliver for her leadership, mentorship and unwavering commitment to the bank and its employees. The talented and hardworking team at The Coop is one of the institution’s greatest strengths, and I look forward to collaborating with them as we deliver on our mission to be the best bank for Cape Cod.”
Oliver joined the Cape Cod bank as president and CEO in 2017, becoming the first female CEO in its 103-year history. In 2020, she became the Bank’s first female board chair. Oliver helped drive a 72 percent increase in assets during her tenure, the bank said, and also established The Cooperative Bank of Cape Cod Charitable Foundation Trust in 2018, which has distributed 3 percent of The Coop’s annual earnings since inception to meet critical needs across Cape Cod.
“I congratulate Erik on his selection as the sixth president and CEO in The Coop’s 104-year history,” Oliver said in a statement. “His deep knowledge of the Cape Cod market, strong relationships in the region and across the industry, collaborative management style and financial and strategic acumen make him well positioned to lead the bank.”
