William J. Walsh, the president and chief executive officer of Millbury Savings Bank, will retire in January 2015.
His impending retirement will cap more than 20 years of work with Millbury Savings.
"It has been a pleasure to serve as the bank’s president and CEO for the last two decades," Walsh said in a statement. "I strongly believe Millbury Saving Bank will continue to be an integral contributor to the communities we serve."
Walsh was named president and CEO in September 1993. Under his leadership, the bank’s assets grew to more than $200 million, and he oversaw the opening of the bank’s first branch outside of Millbury in 2012. He also doubled the bank’s annual commitment to its neighborhoods, consistently returning about 10 percent of its yearly profits back to the community. Since Walsh joined the bank, it has provided more than $1 million in charitable contributions and financial support to local organizations and causes.
Before he joined Millbury Savings, Walsh worked as the president and CEO of Pelham Bank & Trust in Pelham, N.H., and prior to that, he was the president and CEO of Southstate Bank in Brockton. He is a former director and treasurer of the Blackstone Valley Chamber of Commerce.
Walsh finalized his retirement plans with the bank’s board of trustees last month and then informed employees and the bank’s corporators. The bank’s nominating committee is expected to propose Robert Morton, currently executive vice president and senior loan officer, be elected president at next spring’s annual meeting.
