Press Release

MountainOne Announces CEO Transition

Monday, August 25, 2014

MountainOne Financial and MountainOne Bank Board Chair Dan Bosley announces that MountainOne CEO Thomas S. Leavitt will be leaving the company September 25, 2014. Leavitt is being appointed as President and CEO of Northfield Savings Bank, a $750 million mutual institution founded in 1867 and based in Leavitt’s home state of Vermont. Leavitt will succeed Thomas N. Pelletier in the final quarter of 2014.

Leavitt has served two years as President & CEO of MountainOne. He has led the advancement of MountainOne Bank along with its insurance and investment divisions – Coakley, Pierpan, Dolan & Collins, True North Insurance, and True North Financial. He came to MountainOne after serving on the senior management team of Vermont’s Merchants Bank for 16 years.

In announcing the decision, Bosley said, “On behalf of the MountainOne Board and Corporators, I wish to thank Tom for his service to our company and communities in the Berkshires and Eastern Massachusetts. He has worked hard with our management team and board to unify our structure and lead a coherent strategy of growth. We will miss his leadership, but feel we have a strong organization to carry our many exciting initiatives forward.” Bosley added, “At MountainOne, we all understand the importance of deep community roots. Tom has understandably chosen to return to his native Green Mountain State given a rare and unexpected opportunity to lead another quality institution there. We will work with Tom and the dedicated people of MountainOne to position the organization for healthy continuity.”

Leavitt commented, “It is a privilege to have had this rich affiliation with MountainOne and the Commonwealth of Massachusetts.  I have been inspired every day by our team here, the communities we serve, and the customers that have entrusted their financial lives to us.  We have made very important progress together, with a clear vision established for how we can continue to build our impressive array of solutions across multiple business lines.”  He added, “I am grateful to the MountainOne Board for its steadfast dedication to the very best practices of governance. That commitment will assure another successful leadership transition, as we have prepared well to manage challenges like this. MountainOne will continue to grow and I will be cheering it along as I return to Vermont to join another terrific team.”

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.