Press Release

MountainOne Financial Partners Names New Leader

Monday, July 23, 2012

As the next step in a management succession process begun in 2011, Thomas S. Leavitt has been named President and Chief Executive Officer of MountainOne Financial Partners effective September 4, 2012, according to Dan Bosley, Chairman of the MountainOne Board of Directors.  Leavitt will also assume a seat on the MountainOne Board.  Current MountainOne CEO Steve Crowe, who helped initiate the succession planning process, recently announced his own retirement. Crowe will continue to serve on the MountainOne Board.  MountainOne Financial Partners, headquartered in North Adams, includes:  Hoosac Bank; Williamstown Savings Bank (A Division of Hoosac Bank); South Coastal Bank; Coakley, Pierpan, Dolan & Collins; Stevenson & Co.; and True North Financial Services.

Noted Bosley, “Tom was the top pick by all members of our search committee.  He has more than two decades of executive experience and has been tested in banking, as well as in several other industries and functions.  His record shows that he is an exceptional leader, and we believe he will build upon the great foundation Steve helped to create.  Tom will be charged with steering the future growth and strategic plan of the holding company, including bringing in possible additional affiliates.”

“I embrace the opportunity,” said Leavitt.  “I look forward to partnering with the talented people of MountainOne to advance the company on many fronts.  Steve Crowe has been the architect of an institution with strong potential for growth.  I will bring all of my energy and skills to building upon the past 10 years of MountainOne development.”

Prior to joining MountainOne, Leavitt served as Executive Vice President for Operations at Merchants Bank, a position he has held since January 2012.  Previously, Leavitt served as Executive Vice President for Community Banking.  Headquartered in Burlington, Vermont, Merchants Bank is a subsidiary of Merchants Bancshares, Inc. (MBVT), a single-bank holding company.  The bank has assets of $1.6 billion and operates 33 full service offices throughout Vermont.  

Leavitt has been a member of Merchants’ senior management team since 1996.  His prior assignments include serving as Chairman for Merchants Trust Company, Senior Vice President for Retail Banking, and Division Manager for Sales, Corporate Banking, and Branch System.  He also served 15 years as Chairman of the Merchants Bank Foundation.

Leavitt’s other career assignments have included:  President of SafetyMaster Corporation, a major Western U.S. safety equipment distribution and technical services firm formerly based in Billings, Montana (division of Strategic Distribution, Inc.); General Manager for the Central and Western U.S. for Bowman Distribution (division of Barnes Group, Inc.); and Senior Director of Sales for Curtis Industries, the automotive and industrial distribution division of Congoleum Corporation.

In the community, Leavitt has served on the Boards of the Vermont Bankers Association, the Vermont Council on Rural Development, the Burlington Business Association, the Center for Financial Literacy at Champlain College, and the Burlington Boys and Girls Club.  He has also been active in numerous community groups and initiatives.

Leavitt earned an MBA in Corporate Finance and Marketing from the Wharton School of the University of Pennsylvania.  He also holds a Bachelor of Science Degree in Business from the University of New Hampshire, with a minor in Political Science.  While at UNH, Leavitt was starting quarterback and punter for the Division I-AA Wildcats.  Leavitt and his wife, Diane Boyajian Leavitt, reside in Burlington, and are planning to relocate to the Berkshires.  They have two grown sons, Joseph and John.  

MountainOne Financial Partners, a mutual holding company headquartered in North Adams, has combined assets of over $800 million and over 220 employees. Hoosac Bank, Williamstown Savings Bank (A Division of Hoosac Bank), and South Coastal Bank provide a broad range of banking and electronic services for personal and business customers.  Hoosac Bank, established in 1848, has offices in North Adams and Williamstown as well as a lending office in Pittsfield; Williamstown Savings Bank, founded in 1892, has an office in Williamstown and a mortgage office in Bennington, VT; and, South Coastal Bank, founded in 1868, has offices in Rockland, Scituate, and Quincy.  Coakley, Pierpan, Dolan & Collins Insurance Agency, founded in 1927, and one of largest property and casualty insurance agencies in Western Massachusetts, serves personal and business customers through offices in North Adams, Adams, Williamstown, and Pittsfield. Stevenson & Co., founded in 1867, is a Division of Coakley, Pierpan, Dolan & Collins and provides property and casualty insurance through an office in Pittsfield. True North Insurance Agency, established in 1997, provides group health, life, and disability insurance through offices in North Adams, Williamstown, and Pittsfield.  True North Financial Services, a division of Hoosac Bank, offer securities and advisory services through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser.