Pictured left to right are Chuck Walker, Scott Cote and Jon Dowst.
Haverhill-based Pentucket Bank has named Chief Credit Officer Jonathan Dowst its next president. Dowst will replace current president Charles Walker on July 1. Walker will continue as president of the bank’s holding company until his retirement on June 30, 2021.
Dowst will take over as CEO in 2021, when Scott Cote also retires on June 30. Cote will remain as chairman of the bank and holding company, and Dowst will become president and CEO of the holding company.
Cote said in a statement that he was pleased Dowst had been named president.
“Jon is a very talented professional who is committed to preserving the bank’s culture and community support,” he said. “For nearly 130 years, Pentucket Bank has uniquely served the Merrimack Valley. As a mutual bank, Pentucket Bank is customer owned. Pentucket Bank’s sole interest has been and will continue to be improving the financial well-being of its customers and the communities that it serves throughout the Merrimack Valley and Southern New Hampshire.”
Dowst came to Pentucket Bank in 2019 from Bank of America, according to his LinkedIn profile.
“My roots are in community banking, and I am proud to be selected to direct the Pentucket Bank legacy,” Dowst said in a statement. “Our talented team of banking professionals has long been recognized as trusted financial advisers. I welcome the opportunity to advance the Bank’s collaborative culture and build relationships that will benefit both our customers and the community. With our history of growth and success, Pentucket Bank is well positioned to invest in innovative ways to further serve our customers and market.”
The bank spent more than five years on its succession plan, according to the statement, developing a 15-month executive transition plan to ensure the continuity, stability and long-term sustainability of the Bank.
“We are dedicated to a smooth transition for our customers, our team and the communities we serve,” Walker said in a statement. “We are committed to preserving our mutual bank charter, our strategic direction, and our community banking culture for many years to come.”
Pentucket Bank has total assets of over $800 million and six banking offices: three in Haverhill and one in North Andover, Hampstead, New Hampshire and Salem, New Hampshire.
