Needham Bank announced yesterday that Paul Totino has officially resigned as president, effective immediately. Joe Campanelli, the bank’s CEO since January 2017, will assume Totino’s job responsibilities.

Since Totino came to Needham Bank in November 2012, the bank grew from $1 billion to just under $2 billion in assets, and has expanded from five to nine branches. Totino contributed to the growth of deposits and loans, managing the lending division, which generated average annual growth of nearly 30 percent for a three-year period, according to a statement from the bank.

“Paul has been a key contributor to the bank’s success, and his contributions have helped to position Needham Bank well for the future,” chairman of the bank’s board of directors Jack McGeorge said in a statement. “He will be missed by his colleagues here at the bank, and we wish him the very best in the future.”

“I feel privileged to have been part of the bank’s success over the past four years,” Totino said in a statement. “I am confident that this is the right time for this transition to take place. I have thoroughly enjoyed working with the great group of people of Needham Bank. I wish them well and have confidence in their continued success.”