BOSTON, Sept. 23, 2016 /PRNewswire/ -- Brookline Bancorp, Inc. (NASDAQ: BRKL) President & CEO Paul Perrault announced today that Russell Cole, President & CEO of the company's North Shore subsidiary, First Ipswich Bank, will retire to attend to family matters. Cole, who for the past 10 years has been at the helm of First Ipswich Bank, will step down effective October 1st.
Perrault also announced today that James McCarthy of Middleton has been appointed to replace Cole. Previously, McCarthy was Executive Vice President and Chief Operating Officer of Danvers Bancorp, Inc., the parent company for Danversbank, and has been a director of First Ipswich Bank since 2013. Before joining Danvers Bancorp, Inc., McCarthy was President & CEO of Revere Federal Savings Bank and an associate at Ernst & Young.
"I am very proud of what we have accomplished at the bank over the years and have thoroughly enjoyed the experience. After giving it a great deal of thought, I have decided to take some time to spend with family as I consider my future plans," Cole said.
"Russ Cole made significant contributions to the health and growth of First Ipswich Bank and I appreciate his service over these past 10 years," said Perrault. "We will miss him, but I expect a smooth transition and continued forward momentum thanks to the immediate availability, years of leadership in community banking and enthusiastic interest of Jim McCarthy in stepping in to fill this key role."
ABOUT FIRST IPSWICH BANK
First Ipswich Bank is a Massachusetts chartered trust company with approximately $365 million in assets headquartered in Ipswich, Massachusetts with branch locations in Ipswich, Essex, Gloucester, Newburyport, and Rowley. Additional information about First Ipswich Bank can be found at www.firstipswich.com.
ABOUT BROOKLINE BANCORP, INC.
Brookline Bancorp, Inc., a bank holding company with approximately $6.3 billion in assets and branch locations in eastern Massachusetts and Rhode Island, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank, Bank Rhode Island, and First Ipswich Bank. The Company provides commercial and retail banking services and cash management and investment services to customers throughout Central New England. More information about Brookline Bancorp, Inc. and its banks can be found at the following websites: www.brooklinebancorp.com, www.brooklinebank.com, www.bankri.com, and www.firstipswich.com.