2025 Power 100: Seth Pitts
Photo | Courtesy of Bay State Bank
Sett Pitts, president & CEO of Bay State Bank
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Pitts is the groundbreaking leader of Bay State Bank and is taking the community bank founded in Worcester in 1895 to new heights by bringing in exciting new executives and partnering with the state treasurer.
A Worcester native, Pitts joined the bank in 2020 after time in the public sector. He worked with banks at risk of failing at the Federal Deposit Insurance Corp. and with people living in rural communities at the U.S. Department of Agriculture. He ascended to CEO in 2023 after the retirement of Peter Alden, taking the top job at just 35 years old. He is the first Black man and first person of color to lead the institution, which had $492 million in local deposits and $555 million in assets as of June 30.
In October, Bay State Bank announced Anthony Pasquale would be its first chief commercial banking officer, charged with spearheading the creation of commercial banking products and services and with strengthening community relationships.
This year, the bank partnered with the Office of State Treasurer and Receiver General Deborah Goldberg to offer two virtual business finance workshops for entrepreneurs across the commonwealth. Bay State has six public branches in the region and a seventh at Auburn High School.
Laura Finaldi is a former WBJ reporter and current freelance writer.
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