Will Be 13th President of Haverhill Bank
March 13, 2020
Effective July 1, Jonathan Dowst will be the 13th president of Pentucket Bank in Haverhill, Massachusetts. Chuck Walker, will remain president of the bank’s holding company, Pentucket Bank Holdings, MHC. Scott Cote will remain the bank’s chairman and CEO.
The bank’s executive management has developed a 15-month executive transition plan with the goal of ensuring the continuity, stability and long-term sustainability of the bank. When both Cote and Walker retire on June 30, 2021, Dowst will then also become CEO of Pentucket Bank, and president and CEO of the other two bank entities: Pentucket Bancorp and Pentucket Bank Holdings, MHC.
Cote stated, “I am extremely pleased that Jon Dowst has been named as the next president of Pentucket Bank. Jon is a very talented professional who is committed to preserving the bank’s culture and community support. For nearly 130 years, Pentucket Bank has uniquely served the Merrimack Valley. As a mutual bank, Pentucket Bank is customer owned.”
Pentucket Bank, with assets of over $800 million, offers six full-service community banking offices; three in Haverhill, Mass., one in North Andover, Mass., and one each in Hampstead and Salem, New Hampshire. Pentucket Bank is recognized as a “Best of Bauer Bank” by BauerFinancial, a designation reserved specifically for banks that have earned Bauer’s highest 5-star rating continuously for 25 years or longer.
For more information on Pentucket Bank, please visit www.pentucketbank.com
PHOTO CAPTION: From left, Chuck Walker, Scott Cote, and Jon Dowst.
The Bottom Line
Most financial institutions have tremendous excess capacity in their existing branches today.