Bridgewater Savings Bank CEO to Retire at Year-End 2016

Bridgewater Savings Bank CEO to Retire at Year-End 2016

February 16, 2016

James C. Lively will retire on December 5, 2016 after a 40 year career in banking, 33 of which of were spent at Bridgewater Savings Bank. He will be succeeded by Peter Dello Russo, the Bank’s current President and COO.

Mr. Lively began his banking career with Casco Bank and Trust Company of Portland, Maine. In addition, he worked for Milton Savings Bank, Commonwealth National Bank and Rockland Credit Union. At Bridgewater Savings he held the positions of Treasurer, Vice President, Senior Vice President and Executive Vice President before being named President and CEO in 1995. During his tenure as President and CEO the Bank has grown from a four branch, 100 million dollar asset bank to over 500 million in assets with eight locations. Last year the Bank also opened its first Loan Production Office in Wrentham and a Financial Center in Bridgewater. Furthermore, Mr. Lively was an instrumental part of the Bank’s “Uncommon Banking” rebranding initiative, which highlights the personalized financial solutions offered at Bridgewater Savings.

“I have been privileged and fortunate to have served Bridgewater Savings Bank for the past 33 years and am honored to have given back to the community where my family and I made our home. I’ve had a unique opportunity to balance the commitment to my career while still being able to spend time with my incredibly supportive family. I want to thank them for their love and support,” said Lively.

Mr. Lively is the current Chairman of the Board of Directors of the Massachusetts Bankers Association and a member of the Executive Compensation Committee. Prior to being named Chairman he served as Treasurer and Vice Chairman. He also serves as a Director and member of the Audit Committee of the New England Automated Clearing House (NEACH).

Community service has always been an important aspect to his career. Mr. Lively has held leadership positions on numerous not-for-profit organization boards including President of the Old Colony Boy Scouts of America, President of the American Lung Association of Southeastern Massachusetts, Director of the Cranberry Country Chamber of Commerce and Trustee of the Bridgewater State University Foundation.

“I want to congratulate Jim on his prospective retirement coming up in December and recognize his distinguished 40 year career in community banking. Under his 21 years of leadership as President and CEO, the Bank has had significant growth and has prospered throughout various economic conditions,” said Chairman of the Board, Robert L. Todd, who has served for 20 of the 21 years Lively has served as President.

Peter Dello Russo has more than 30 years of financial management experience, including 15 years at Bridgewater Savings Bank. He was President of Mill River Mortgage Company, Senior Vice President and Senior Credit Officer at PNC Bank, New England, as well as First Vice President at BancBoston Mortgage Corporation. Dello Russo is a graduate of the University of Massachusetts and the Stonier Graduate School of Banking. He joined Bridgewater Savings Bank in 2000 as Senior Vice President and Senior Commercial Loan Officer. He was elected Executive Vice President and COO in 2013 and more recently President and Chief Operating Officer at the Bank’s Annual Meeting on December 7, 2015. He and his wife Judy reside in North Falmouth.

“I am honored to have been selected to succeed Jim and continue the strong legacy of Bridgewater Savings Bank. I feel the Bank is uniquely positioned to successfully work with consumers and businesses in the markets we serve,” said Dello Russo.

“The Board of Directors has been engaged in succession planning for several years in preparation for retirements from the Board of Directors and Management. We are very fortunate to have a highly talented management team that allowed us to select a capable individual in Peter. During his time at the Bank, Peter has already made significant contributions to the success of the Bank. We are very confident in Peter’s ability to continue our commitment to serving our depositors, borrowers and all the communities we serve across the South Shore,” said Vice Chairman of the Board, John Hopkins, who also chaired the search committee that selected Dello Russo.


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