NEEDHAM, MA – March 28, 2017 – Needham Bank announced today that Paul Totino has officially resigned as President, effective March 28, 2017. Joe Campanelli, the Bank’s CEO since January 2017, will assume Paul’s job responsibilities.
Since Paul came to Needham Bank in November 2012, the Bank has grown from $1 billion to just under $2 billion in assets, and has expanded from five to nine branches. Paul contributed to the growth of deposits and loans, managing the lending division, which generated average annual growth of nearly 30% for a three year period. He recommended and executed strategies to help the Bank grow, yet remain profitable, liquid, and very well capitalized. His strong leadership skills and community banking knowledge have been invaluable to the Bank.
The Chairman of the Bank’s Board of Directors, Jack McGeorge, notes that “Paul has been a key contributor to the Bank’s success, and his contributions have helped to position Needham Bank well for the future. He will be missed by his colleagues here at the Bank, and we wish him the very best in the future.”
Paul offers his thanks to the Bank and its employees. “I feel privileged to have been part of the Bank’s success over the past four years. 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.”