Press Release

MountainOne Announces CEO Appointment

Friday, September 5, 2014

MountainOne Financial and MountainOne Bank Board Chair Dan Bosley announces that the MountainOne Board is appointing Robert J. Fraser as President & CEO of MountainOne Financial, MHC, MountainOne Financial, Inc., and MountainOne Bank.  Fraser succeeds Thomas S. Leavitt on September 22, 2014.  Leavitt has been MountainOne’s CEO for two years and is returning to his home state of Vermont to lead Northfield Savings Bank.

Fraser joined the organization in 2007 and has been serving as President & Chief Operating Officer of MountainOne Bank, building upon his prior role as President & CEO of South Coastal Bank.  He is a veteran commercial banker with background in senior lending roles with U.S. Trust and Citizens Bank.  Fraser, a Marshfield, MA resident, holds a Bachelor’s degree from the University of Massachusetts at Amherst and earned an MBA from Northeastern University.

In a related action by the Board, Steven J. Owens will be appointed MountainOne’s Chief Operating Officer.  Owens is currently serving as Executive Vice President, Chief Financial Officer & Chief Information Officer.  He has been with the company three years, having previously served as Executive Vice President & CFO for Fort Orange Financial Corp. and its subsidiary Capital Bank & Trust Company, and prior to that was a senior manager in the financial services practice of KPMG.  A native of New York’s Capital Region, Owens earned a Bachelor’s degree in Business Administration with valedictorian honors at Siena College and is a CPA.   

In announcing the decision, Bosley said, “These appointments represent a natural transition of duties within our accomplished management team. Bob, Steve, and Tom have been working together for two years to put MountainOne on a strong track with a common strategic vision and adherence to our well established core commitments. Bob is one of the Commonwealth’s top bankers and is the consensus choice of the Board to lead us to the next phase of growth. He is respected throughout Massachusetts and has demonstrated his effectiveness in serving the Berkshires, Boston South, and Boston North.”  Bosley added, “Steve has a rare depth of skills that provides MountainOne with a financial and operational backbone that supports our multiline business model and long-term growth strategy. Together, Bob and Steve will be formidable in balancing geographic and functional responsibilities across our enterprise.”

Fraser commented, “I am honored to lead MountainOne and am thankful for the Board’s support.  We have a very talented senior management team that has demonstrated its ability to develop and execute our strategic plan. It is a privilege to guide this group, along with all of our employees, in achieving our expectations for growth and financial vitality.  Our commitment to the communities we serve is unwavering and we are well positioned to meet the needs of our customers in the Berkshires and Boston’s South Shore, as well as at our new Danvers branch opening later this year.”

Owens remarked, “I look forward to continuing to work with Bob, the Board, MountainOne’s management team and all of our employees as we carry on with the execution of our strategic plan and the growth of our core businesses.  MountainOne has a bright future and I appreciate the support of the Board and Bob in selecting me for this strategic role within the company.”

MOUNTAINONE

MountainOne Financial is a mutual holding company headquartered in North Adams, MA. MountainOne Bank is a subsidiary of MountainOne Financial, and includes the following divisions: Coakley, Pierpan, Dolan & Collins Insurance; True North Insurance; and True North Financial (financial professionals offering securities and advisory services through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor).  Founded in 1848, MountainOne Bank has assets of over $790 million and provides a broad range of banking services to personal and enterprise customers. MountainOne Bank has full service offices serving the Berkshires and Boston South, with a full service office opening in fall 2014 in Danvers serving Boston North.