Wellesley Bancorp has tapped a former State Street banker as its new CFO.

Michael W. Dvorak will take over the position of CFO and treasurer of the holding company and executive vice president and CFO of Wellesley Bank, when current CFO Gary P. Culyer retires on July 1.

“We are excited to have Michael join our senior leadership team and contribute to Wellesley Bank’s continuing success and expansion. We expect that Michael will utilize his many talents to build upon the strong financial footing that has already been established,” President and CEO Thomas Fontaine said in a statement.

Dvorak most recently worked as senior vice president of finance at State Street Corp. In total, he has more than 30 years of banking experience, including 15 years at Keycorp, as CFO of the Community Bank and the Consumer Bank. He has a bachelor’s degree from Miami University and an MBA from Weatherhead School, Case Western Reserve University.

Wellesley Bancorp also said that its board of directors recently approved an increase in the company’s quarterly cash dividend, bumping that up 1 cent to 4 cents per share.