The president of Curry College is now at the helm of Envision Bank and its parent company.

The bank announced yesterday that Kenneth K. Quigley Jr. has been named chairman of the board of directors of the institution, which was formerly Randolph Savings Bank. Quigley assumes the position from outgoing board Chairman Louis J. Trubiano, who will remain on the board.

“Ken is a proven leader and his contributions as a member of the board over the past five years have been invaluable,” Jim McDonough, president and CEO of Envision Bank, said in a statement. “He brings a lot of energy to the table, as well as a wealth of expertise and a true sense of community. We’re enthusiastic about his commitment to the continued support of our strategic goals and the success of the company. We also thank Lou Trubiano for his leadership as board chairman during a period of great change for the company.”

Quigley, who has served as the president of Curry College since 1996, has been a member of the board since 2013.

“I am honored to accept this appointment,” he said in a statement. “I am eager to pick up the baton from Lou and build on the strong foundation as a community bank committed to the markets that we serve that was established during his tenure as chairman. Together, we look forward to seeing the difference we can make by delivering a sensational customer experience across all channels and business lines. We look confidently toward the future, buoyed by the momentum that has been cultivated under the leadership of both Lou and Jim.”

The shake up comes as the company is trying to find its bearings in what has become a tight mortgage market.

After three straight years of losses, Randolph Savings Bank announced that it would go public in the summer of 2016, a transition that included the bank purchasing a mortgage subsidiary. The bank reported $2.8 million in earnings that year, but then ran into trouble again in 2017, reporting losses of $2.4 million.

Toward the end of 2017, the bank laid off 8 percent of its workforce, or about 16 employees. The move was “intended to better align staffing levels with the current volume of residential mortgage loan originations,” according to a regulatory filing.

In February of this year, the bank changed its name to Envision Bank, reflecting a commitment to deliver a people and technology approach in support of healthier financial well-being for its customers and communities. And despite a $707,000 loss in the first quarter, the bank said it had been hiring again.

Envision Bank Taps New Board Chairman

by Bram Berkowitz time to read: 2 min
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