FLORENCE—Florence Bank announced yesterday that President and CEO Kevin R. Day will retire on November 25, and a focused search is underway for a new leader.
Day took over as president in January 2020 and became CEO in May of the same year.
When Day took the helm at age 64, he promised that nothing would change at the bank. Little did he know, he’d be called upon to usher Florence Bank through some of the most tumultuous times in history, including a pandemic and the resulting financial strife.
Day led the bank in ensuring that countless homeowners and businesses were able to defer their payments during the pandemic and in helping business customers connect to grants and other available funding.
These measures helped customers navigate the financial turmoil and gave them much-needed time to adjust to new financial situations.
The bank also expanded over these past two years, opening a branch in Chicopee; creating a work-from-home program for employees; and granting hundreds of thousands of dollars to nonprofit organizations in the Valley.
Day takes pride in the bank’s stability but shares the credit with the full banking team.
“Our goal in this transition is to identify an individual to lead the bank into the future while preserving the values and mission of the past that have proven so successful here,” he said. “I am proud to say that Florence Bank is fundamentally sound in every way. We have an experienced executive management team, a solid officer team and a dedicated staff. I am confident that the bank will continue to prosper for many years to come.”
Day joined Florence Bank in 2008 as chief financial officer, responsible for finance, facilities and risk management. His responsibilities expanded to include compliance in 2013, residential lending in 2014 and retail banking in 2016. He was also promoted to executive vice president in 2016.
He lives in Easthampton with his wife, Laurel. He has three grown children and eight grandchildren whom he’s looking forward to spending more time with.
The Florence Bank Board of Directors has launched a search to find the next bank leader. “We plan to be thorough in our work and have as a major part of our mission seeking to hire an individual who is as committed to the bank’s mutual form of ownership as we are,” said Board Chair John Ebbets. “We can ensure the community that Florence Bank will remain a local, independent bank for years to come.”
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About Florence Bank
Florence Bank is a mutual savings bank chartered in 1873. Currently, the bank serves the Pioneer Valley through 12 full-service branch locations in Florence, Northampton, Easthampton, Williamsburg, Amherst, Hadley, Belchertown, Granby, Chicopee, West Springfield, and Springfield. Additionally, it offers 25 ATMs and a wide range of financial services, including investment management through FSB Financial Group (FSBFG) to consumers and businesses. Florence Bank is consistently voted best local bank by the readers of the Valley Advocate.
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