Greene to Resign Post: Claremont Savings Bank Begins Search for New President
CLAREMONT — Claremont Savings Bank President Reginald Greene has submitted his notice to resign to the bank’s board of trustees.
Greene has stated that he intends to stay on as CSB’s president and CEO until the board is able to find a replacement. The board of trustees have hired the firm of Smith & Wilkinson to conduct a search for the new president and CEO position.
“I’ve been with the bank for almost seven years and have really enjoyed my time here. We’ve been able to do a lot of great things that we feel good about. At some point it’s time for me to find a new challenge and opportunity and make room for another person to come in with new blood,” Greene said of the Executive transition period.
Greene has stated that he will be part of the group, which will include six members from the board of trustees, in the interviewing process to find his replacement.
“To do the job you have to have certain experiences in your life. Foremost you have to be a bank and understand lending. Bad loans can bring a bank down. We’d really be looking for someone who has been a president or senior executive before. You really have to be a generalist and a strategic thinker. You need people who can see the changes in the financial landscape,” Greene stated when discussing prerequisites for taking over such a position.
Prior to Greene accepting the position, Sherwood Moody was the President, serving for a number of years and working with the bank for roughly a decade. Moody, like Greene, stayed on during a transitional period with the bank after David Berkins, who was intended to take over for Moody left the bank before taking over. Greene was then hired after leaving his position with Ledyard Bank as executive vice president and chief lending officer.
Claremont Savings Bank, which has no owners or shareholders and is owned by its depositors, was founded in 1907. The bank is run by its board of trustees, and they serve as the ultimate authority for all of the bank’s practices. Members for the board are elected by corporators of which there are roughly 45.
Greene stated that he intends to move with his family to Massachusetts where he will likely continue to pursue a career in banking but has not made any decisions yet, suggesting that he would like to wait until there is an incoming president and CEO. He has also said that he believes that Smith & Wilkinson will likely have found his replacement within the next two to four months.
“I’m excited to say that the bank is as strong as it’s ever been. Which is great because we intend for it to be around for a very long time and continue to be a support to the community,” Greene said of the institution.