Thomas L. Mortimer, 52, of Haverhill, has been named president and chief executive officer of Haverhill Bank.

Mortimer will take over as president early next month when Thomas R. Faulkner retires. Faulkner, who has served the bank for nearly 40 years, will remain chairman of the board.

Mortimer comes to Haverhill Bank from Pentucket Bank, where he serves as executive vice president and chief credit officer, according to a statement.

"I am happy to be afforded this opportunity to continue serving my community in a new capacity. It is with great pride that I become associated not only with the oldest cooperative bank in the Commonwealth, but one that has remained true to its local roots as a depositor-owned institution," said Mortimer. "I am confident, with the support of a hard-working staff, Haverhill Bank will continue to introduce new and innovative products and services, providing greater convenience and security to all customers."

"Tom’s lending experience presents new opportunities to both current and future borrowers, and demonstrates his understanding of the needs of both commercial and residential customers," said Faulkner.

Mortimer first entered the banking industry in 1985, and has since served various local institutions including Family Bank, Fleet Bank and Pentucket Bank. He holds a bachelor’s degree in finance at Northeastern University, where he was inducted into the athletic hall of fame for his excellence in the sport of track. Mortimer also earned a master of business administration degree in finance from the University of Lowell (now University of Massachusetts Lowell).