Marianne Schlichte Smith became the first female president of Cape Ann Savings Bank on Aug. 1 following the retirement of Robert J. Gillis Jr.

The bank had announced in December Gillis’ retirement and Smith’s appointment as the next president.

“It is an honor to be named the 15th president and the first female president of the Cape Ann Savings Bank,” Smith said in a statement. “To join the ranks of such illustrious individuals as Robert J. Gillis Jr, and his predecessor Harold J. ‘Bucky’ Rogers is very meaningful to me.”

Smith began her career as a bank examiner with the Massachusetts Commissioner of Banks and has over 30 years of banking and regulatory experience. She joined Cape Ann Savings Bank as vice president and treasurer in 2013 and became a member of the board of trustees in 2018. She was promoted to executive vice president and chief financial officer in December 2020.

In addition to being board president of the Cape Ann YMCA, Smith is an advisory board member of the Massachusetts Bankers Association Women in Banking, a board member of the DDS North Shore Citizen’s Advisory Board and a supporter of the organization, Autism Speaks.

Gillis, who had been the bank’s president since 2017, said he worked closely with Smith during that time.

“We always tried to do what was in the best interest of the organization – its employees, customers, and communities,” Gillis said. “This approach has resulted in the bank’s continued strong financial position. We have prioritized charitable giving to benefit the wonderful organizations in our communities that make life better for us all every day. I am confident and excited for the future of the bank under Marianne’s leadership and wish her and the staff nothing but the best.”

Cape Ann Savings Bank has $805 million in assets and is marking its 175th anniversary this year.