South Coastal Bank President and CEO Robert J. Fraser has been elected chairman of the board of directors.

Fraser, a Marshfield resident, continues in his role as president and CEO of the bank, and will also replace the chairman of the board, John O’Connor III, who is retiring.

Fraser took over as president of South Coastal Bank in 2008 and added the role of CEO in January 2009, positions that O’Connor had previously held as well. O’Connor served as the bank’s president and CEO for more than 10 years, and had continued in his role as chairman of the board after stepping down as president and CEO.

"John’s vision, leadership and determination, as well as the many roles he has held with this bank have built the strong foundation upon which South Coastal Bank continues to grow," Fraser said. "John has been both a mentor and a good friend, and I wish him every success in retirement."

He added, "In my expanded role as chairman of the board, I look forward to continuing the good work of John O’Connor, and working closely with our board to ensure the growth and profitability of the bank and our affiliates throughout the MountainOne Financial Partners family."