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April 15, 2024

Main Street Bank names first-ever chief deposit officer

A man in a suit Image | Courtesy of Main Street Bank David Felton, executive vice president and chief deposit officer at Main Street Bank

Main Street Bank has a new member of its executive team, as the Marlborough-based bank has named David Felton as its executive vice president and chief deposit officer.

Felton has worked in the commercial banking space for 15 years, most recently as a senior vice president for Cambridge Trust. In this newly created role, Felton will help Main Street Bank launch new products and services related to business and commercial banking, according to a press release issued by the bank on Monday.

"We are delighted to welcome Dave to Main Street Bank and our executive leadership team," Walter Dwyer, CEO of Main Street Bank, said in the press release. "Dave brings a wealth of experience, knowledge, and relationships, and he will play a key role in driving our deposit growth and expanding our market presence. He is also a great fit for our culture of excellence, innovation, and community involvement."

Main Street Bank is the ninth largest bank in Central Massachusetts when ranked by local deposits, according to data collected by the WBJ Research Department. The bank had $1.7 billion in total assets and $4.7 million in net income as of June 30, with 10 branches and 186 employees. 

In addition to his bank experience, Felton is a board member and treasurer for the Boston Arts Academy Foundation, a nonprofit supporting Boston's only public high school for visual and performing arts. He is an advisory board member for Understanding Our Differences, a Newton-based organization focusing on disability awareness programming. 

"I am thrilled to join Main Street Bank and be part of a dynamic and growing organization that is focused on serving the needs of its customers and communities," Felton said in the press release. "I look forward to working with the talented team here and leveraging my experience and network to help realize our vision for the future."

A graduate with a bachelor’s degree in business administration from the New England College of Business in Boston, Felton resides in New Hampshire. 

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