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Haverhill’s Pentucket Bank and Newburyport Bank have new faces in their senior leadership teams following executive changes in the last two weeks.
Both banks are part of the $2.6 billion-asset River Run Bancorp, which was established last year after the merger of both banks’ mutual holding companies. It runs a shared-services business model that provides back-office savings for the two lenders.
Pentucket Bank Executive Vice President Stephen Jaskelevicus, its senior credit officer and a longtime bank employee, was named the bank’s interim CEO June 18 after the departure of CEO Jonathan Dowst, who had led the lender since 2020 and played a major role in its holding company merger.
Dowst had also been River Run’s president, a role being taken over on an acting basis by Newburyport Bank and River Run CEO Lloyd Hamm Jr., and River Run’s board co-chair. To replace Dowst in his board role, River Run named retired Pentucket Bank CEO Scott D. Cote to be board co-chair alongside Hamm.
“Jon Dowst was instrumental in the successful merger of Newburyport Bank and Pentucket Bank under the newly-formed River Run Bancorp, MHC,” Hamm said in a statement. “We are grateful for his leadership, innovation, and dedication during a critical period of our company’s growth. We are incredibly thankful for all of Jon’s contributions.” He continued, “His efforts were pivotal in uniting our organizations and setting a strong foundation for the future.”
A bank spokesperson did not return a phone call last week seeking comment on Dowst’s departure.
Newburyport Bank also named a new president and chief lending officer effective July 1. John Burcke was tapped to oversee the bank’s day-to-day operations after nine years with the bank, most recently as executive vice president and chief lending officer. In its announcement, Newburyport Bank characterized Burcke’s appointment as “part of the strategic growth plan for Newburyport Bank.”
“I am elated that John has been named the next President of Newburyport Bank,” Hamm said in a statement provided as part of the announcement of Burcke’s elevation. “John is a talented banker who, in his time at the Bank, has proven his commitment to furthering the strategic growth of the Bank while remaining focused on fostering a culture of team development and community support. I look forward to continuing to work alongside John as the Bank moves into this next phase of leadership.”
