– USA, MA – Western New England Bancorp (Nasdaq: WNEB) today announced that on March 24, 2020, Lisa McMahon was elected Chairperson of Western New England Bancorp’s Board of Directors.
Western New England Bancorp is the parent company of Westfield Bank, headquartered in Westfield, Massachusetts.
Ms. McMahon’s historic appointment makes her the first female Board Chairperson in the organization’s 167-year history. Ms. McMahon succeeded former Board Chairperson Christos A. Tapases, a longtime and respected WNEB board member and successful business owner who passed away unexpectedly in March 2020.
“While our hearts are still heavy following Chris’ sudden passing, we’re heartened to have a talented, hardworking, and community-focused executive like Lisa leading us into the future,” said Westfield Bank President and CEO James Hagan. “These are certainly challenging times and Lisa is without question the right person to meet the unique circumstances we face as an organization and as a community. I am confident that her vision, leadership, and organizational expertise will benefit our customers and the communities we serve exceptionally well.”
While Ms. McMahon’s election in March of this year was a significant milestone, Western New England Bancorp has long sought to ensure gender balance on its Board of Directors. In 2019, Women on Boards, a leading global education and advocacy campaign driving the movement toward gender balance on corporate boards, recognized Western New England Bancorp as a “W” for “Winning” company for its commitment to gender equity. Women on Boards tracks, analyzes, and reports on the progress of women on Russell 3000 company boards. To be recognized, a company’s board must be comprised of at least 20% women. In 2019, just 20.4% of companies on the Russell 3000 had at least 20% women board members. Thirty percent of Western New England Bancorp’s current board members are women.
A WNEB board member since 2014, Ms. McMahon is currently the Director of Institutional Advancement and Stewardship at Westfield State University. Prior to joining Westfield State University, she was employed by Merrill Lynch where she obtained both her general securities license and license to become a registered investment advisor representative.
Ms. McMahon currently serves as president of the Westfield Academy Foundation as well as past president and current member of the executive board of the Genesis Center, a division of the Sisters of Providence Health Systems. From 2007-2012, Ms. McMahon was executive director of the Westfield Business Improvement District, Inc. and a member of the Western Mass Economic Development Council Team, where she worked closely with micro-businesses, small businesses as well as state and local government.
Ms. McMahon received a Bachelor of Science degree from Our Lady of the Elms College. For over twenty-five years, she has worked in non-profit management, serving on the boards of numerous organizations. She and her husband Thomas reside in Westfield, Massachusetts. The couple has two sons, Zachary and Nicholas.
About Western New England Bancorp
Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank, CSB Colts, Inc., Elm Street Securities Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC. Western New England Bancorp, Inc. and its subsidiaries are headquartered in Westfield, Massachusetts and operate 25 banking offices throughout western Massachusetts and northern Connecticut.
For more information: https://www.westfieldbank.com/
About Westfield Bank
Westfield Bank, headquartered in Westfield, Massachusetts, is a federally chartered savings bank organized in 1853 and is the largest publicly traded bank headquartered in western Massachusetts. The Bank is a full-service community-oriented financial institution offering a complete range of commercial and retail products and services. Currently, the Bank has twenty-five branch offices, fifty-two ATMs, and an additional twenty-three seasonal ATMs and serves Hampden and Hampshire counties in western Massachusetts and Hartford and Tolland counties in northern Connecticut. The Bank’s middle market and commercial real estate lending team is based in Springfield, Massachusetts, and has a general regulatory limit on loans to one borrower of $33.9 million. As of June 30, 2020, the Bank employed 332 full and part-time employees, had $2.4 billion in total assets, $2.0 billion in its loan portfolio, and $1.9 billion in total deposits. The Bank is regulated by the Office of the Comptroller of the Currency. As a member of the Federal Deposit Insurance Corporation, the Bank’s deposits are insured up to the maximum FDIC insurance coverage limits.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.