40 Under Forty 2021: Seth A. Pitts, CFE
Photo | Erika Sidor
Seth A. Pitts, CFE
Born and raised in Worcester, Seth Pitts' connection with the city and its residents gives him a unique perspective at Bay State Savings Bank, where he leads the financials at an institution with $469 million in assets and profits of $2.3 million in 2020.
- Title Chief financial officer & executive vice president
- Company Bay State Savings Bank, in Worcester
- Residence Worcester
- Birthplace Worcester
- Colleges UMass Boston, Worcester State University
More Information
He is a commissioned financial institution risk examiner and a certified fraud examiner who worked at the Federal Deposit Insurance Corp. on new banks and older ones with assets greater than $10 billion. He served on the FDIC Chairman’s Diversity Advisory Council for the Boston Area, as well as chairman of the U.S. Department of Agriculture - Rural Development’s Equal Employment Opportunities Action Council for the Western New England. Throughout the coronavirus pandemic, financial uncertainty underlined many businesses, yet Pitts is credited with providing comfort, strong leadership, and reassurance during these tough times. He serves as chair on the bank’s asset liability committee and as a member of the strategic planning committee, senior management committee, and technology committee. Outside of Bay State, Pitts chaired the City of Worcester’s Trust Funds Commission for one term and is in the midst of a second term as a member.
If you could time travel to any decade, which one would you pick? I wouldn’t. The present moment is good enough for me.
How do you define success? Realizing my full potential and maintaining a sense of self-worth that comes from within, not without.
What Central Mass. community is best? Worcester, as it brings many different people and experiences together, recycles and repurposes them, and uses the energy to provide the foundation for one of the best communities in the country.
What have you crossed off your bucket list? Tough Mudder, bungee jumping, and perfecting slow-cooked pulled BBQ chicken.
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