Fidelity Bank's Chairman & CEO, Edward F. Manzi, Jr., Announces Appointment of John Merrill as President and Chief Financial Designer

LEOMINSTER, Mass., Oct. 5 /PRNewswire/ -- Fidelity Bank, one of the oldest and fastest growing, independent community banks in Central Massachusetts, announced today the appointment of John F. Merrill to a newly created position of President, Chief Financial Designer and Chief Lending Officer.  Merrill has spent the majority of his 28-year banking career in Central Massachusetts including serving as Regional President for both Sovereign and Fleet banks.  Most recently, he managed Sovereign's Business Banking division and was responsible for small to medium size commercial customers from Maryland to New Hampshire.

Edward F. Manzi, Jr., Fidelity Bank's Chairman and CEO, commented: "We are extremely happy to have John Merrill join us at a time when we are poised to substantially increase our investment in commercial banking all across Central Massachusetts.  We've strengthened our leadership team with the addition of an experienced commercial banker who has deep Worcester-area roots and really knows the small and middle market business sectors in this region."

"John also brings the stature, reputation and leadership experience to represent the bank alongside the executive team of Jackie Sgro, Mike Gilles and myself to all our constituencies.  In this new position, John will manage all aspects of consumer, mortgage and commercial lending.  Jackie Sgro, EVP and Chief LifeDesign Officer, will continue to manage retail banking and commercial deposit services where she has been instrumental in developing and implementing LifeDesign(SM) to the overall success of Fidelity Bank.  Mike Gilles, who joined the bank back in April 2010 as CFO, has over 33 years of banking experience and brings a tremendous amount of knowledge and skills to Fidelity Bank," Manzi added.

"The senior management team has complementary skills and experiences, and most importantly, we all share the same commitment to our exclusive LifeDesign approach to banking," said Manzi. "John, Jackie, Mike and I are in strong agreement that today is a great time for Fidelity Bank, as a community bank, to broaden its investment in the Central Massachusetts region."  

Commenting on his joining Fidelity Bank, John Merrill stated, "I am delighted to join Ed and his talented management team to help Fidelity Bank grow in Worcester and in Central Massachusetts.  I look forward to leveraging my 28 years of banking experience and applying the best that big banks have to offer in a more committed and open, community banking organization like Fidelity Bank.  While I have served with much larger banking institutions in recent years, I have always remained a community banker at heart and someone who has enjoyed working closely with the small and mid-size business people in helping them make the right financial decisions for their businesses."

Merrill added, "I have watched and admired how Fidelity Bank, under Ed's leadership for the past 13 years, has grown and established itself as the premier community bank in Central Massachusetts.  The LifeDesign approach to banking, which Ed has championed, has made a huge impact in this marketplace and certainly sets us apart. Successful banking is not about products or rates.  It's all about sustaining and growing relationships and doing what's right for the clients.  I see the LifeDesign approach, especially as it applies to commercial banking where there are more opportunities to assist a small business deal with complex financial issues, as a key to our sustained growth."

City of Worcester Represents Key Growth Market for Fidelity Bank

"The City of Worcester," said Manzi, "represents a key growth area for Fidelity Bank, and now with John Merrill on board, we have someone who has served the Worcester community his whole life and pretty much knows everyone in town.  We will be looking to John to develop and lead the growth strategies for building upon our initial success in Worcester where our Shrewsbury Street office in Worcester has become one of the fastest growing branches in terms of deposits of any bank in Central Massachusetts."

"In addition, through our LifeDesign for business approach," Manzi added, "Fidelity Bank offers a broad array of services to businesses that ranges from diverse loan programs to state-of-the-art cash management services to investment and insurance services.  We are recognized as one of the leading SBA lenders in Central Massachusetts, and the only preferred SBA lender in North Central Mass.  With the most comprehensive suite of business services offered by any community bank in Central Massachusetts, we are well positioned to expand rapidly in the commercial banking market in Worcester under John's leadership and guidance."

"Worcester is a great market, and to some extent, an underserved one for small and mid-size businesses," commented Merrill.  "Over the years, the city has undergone tremendous consolidation within its local banking industry, and as a result, there are fewer, 'home-grown' institutions with the experience and expertise to serve the small and mid-size business market.  Fidelity Bank's unique LifeDesign approach to commercial banking is a perfect fit for this market, and we have already seen how well it has been received by the retail and commercial clients to date.  .  Since Fidelity Bank's LifeDesign banking is all about addressing client needs and not selling-in products, we are well positioned to establish the trusted relationships that these companies need."  

About Fidelity Bank:

Fidelity Bank – one of the oldest and continually growing independent, local community banks in Central MA – offers  a full range of Banking, Investment and Insurance products and programs, and has full-service offices in Fitchburg, Gardner, Leominster, Millbury, Shirley, and Worcester. Since 1888, the bank has remained committed to businesses, families and individuals in the communities it serves; in turn, loyalty demonstrated by members of those cities and towns has allowed the bank to become one of the strongest financial institutions in the region. Today, Fidelity Bank has total assets of $522 million and a net worth nearly two times the minimum regulatory requirement. The FDIC and the Share Insurance Fund insures all deposits.

For further information, visit www.fidelitybankonline or call 800.581.5363.

SOURCE Fidelity Bank