Southbridge Savings president to retire
Courtesy of Southbridge Savings Bank
After almost 42 years with the company, Southbridge Savings Bank President & CEO Philip Pettinelli will retire May 13, the bank announced Thursday.
After almost 42 years with the company, Southbridge Savings Bank President & CEO Philip Pettinelli will retire May 13, the bank announced Thursday. Pettinelli will be replaced by Todd M. Tallman, who’s currently an executive vice president & chief financial officer at the bank.
After graduating from Nichols College, Pettinelli started as a teller with the bank in1972 and moved up the ranks of the company holding a number of positions including operations manager and vice treasurer, he assumed his current role in 1993.
During his tenure, Southbridge Savings Bank saw “record profitability and attained a strong capital position with controlled growth, all while fulfilling the responsibilities of a community-focused financial institution,” the bank said in a statement. Over the years, the bank has grown from one branch to a $450 million network of nine branches serving Worcester County.
“I’m a local boy who grew up in Southbridge, and I’ve lived and worked here my whole life. Our bank customers are like an extension of my own family,” Pettinelli said in a statement. “I am proud of the fact that I am leaving Southbridge Savings Bank in excellent hands, and humbled to have been part of a legacy that began in 1848. It has been my honor to serve our customers and work with the wonderful employees here at Southbridge Savings Bank.”
Pettinelli will remain on Southbridge Savings Bank’s Board of Directors, the company said.
There will be an open house celebration of Pettinelli’s retirement at the bank’s main branch on April 17.
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