Michael Wheeler. Photo courtesy of North Shore Bank

North Shore Bank has named Michael R. Wheeler as its new president and chief executive officer, just a day after announcing a merger.

“I am honored to take on the role of CEO, and I look forward to continuing the legacy of excellence and community commitment that North Shore Bank is known for,” Wheeler said in a statement. “I am grateful for Kevin’s mentorship and leadership, and I look forward to his continued involvement in the future success of the bank.”

Wheeler has been with the organization for many years, having been president and COO of North Shore Bank for the last six years. Prior to that post, was president and CEO of Beverly Bank until its acquisition by North Shore Bank in 2019.

Wheeler will be replacing Kevin M. Tierney, Sr., who will be transitioning to the role of executive chairman. Tierney has been CEO since 2015 and the bank’s announcement credited him with a “pivotal” role in the bank’s expansion and modernization.

North Shore Bank jumped from $736 million in assets and $559 million in deposits at the end of 2015 to $2.92 billion in assets and $2.34 billion in deposits by the end of 2024, according to FDIC statistics.

“It has been a privilege to serve as CEO,” Tierney said in a statement. “I am proud of what we have accomplished together and confident in Mike’s ability to lead the bank into the future. I look forward to supporting the bank as its Executive Chairman.”

North Shore Bank joined the Hometown Financial Group, a $6.6 billion multibank mutual holding company in 2024.

The holding company recently announced plans to acquire Colonial Federal Savings Bank in a $44 million transaction that’s expected to close later this year. That merger will bring North Shore Bank to around $3.3 billion in assets, the bank said.