Photos courtesy of Middlesex Savings Bank

One of the state’s largest mutual banks announced its CEO succession plan Wednesday morning.

Dana Neshe, a 27-year veteran of Natick-based Middlesex Savings Bank, has been promoted to president and tapped to succeed CEO Michael A. McAuliffe, who plans to retire at the end of April 2024.

McAuliffe has been the president and CEO since 2016 and oversaw the bank’s growth from $4.3 billion and 26 branches to $6.2 billion in assets and 31 branches across MetroWest, plus a loan production office in Reading.

“To be one of the oldest, largest and strongest mutual banks in the country requires successfully navigating a multitude of challenges, which Middlesex has done over its 188-year history,” McAuliffe said in a statement. “It also requires long-term strategic and succession planning. I have had the absolute honor and pleasure to work with our executive team and all of our colleagues over the past seven years in continuing the bank’s mission of supporting our customers and communities. When I retire next year, I know the bank is well-positioned for continued long-term success under Dana’s strong leadership.”

Before her elevation to president at the bank’s annual meeting Tuesday night, Neshe was the bank’s chief operating officer and responsible for for credit administration, commercial loan operations, compliance, information security, payment systems fraud, retail branches, deposit operations, marketing, and corporate and foundation philanthropy.