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Concord, NH – August 11, 2015 -Paul C. Rizzi, Jr., has announced his retirement as President and CEO of Merrimack County Savings Bank (the Merrimack) effective January 1, 2016. Mr. Rizzi will also retire as co-President and CEO of New Hampshire Mutual Bancorp (NHMB), the holding company for the Merrimack, Meredith Village Savings Bank (MVSB) and MillRiver Wealth Management. He will remain active as a member of the Board of Trustees for NHMB and the Board of Directors for the Merrimack.
Rizzi joined the Merrimack in 1996 where he served first as Executive Vice President and Chief Operating Officer prior to his current roles. His banking career spans 46 years in New Hampshire. During his time at the Merrimack, the Bank has grown from $190 million to over $700 million in assets and added seven branch offices to the original single location, including three from the acquisition of Bow Mills Bank in 2007 to the newest branch in Hooksett at the I-93 North Welcome Center. Rizzi is a graduate of Dartmouth College and Whittemore Graduate School of Business and resides with his family in Bow, NH.
During his 18 year tenure at the Merrimack, Rizzi has been a dedicated leader and active member of the community. He has served as chair of the Economic Self-Sufficiency Community Review Team and is a member of the Bow Rotary Club. Additionally, he served on the Board of Directors for Concord Family YMCA as chair of the Finance Committee and has been recognized as Program Volunteer of the Year by the YMCA. He is an alumnus of Leadership Greater Concord and former board member of the Concord Boys & Girls Club, Community Bridges and the Granite United Way.
Rizzi’s leadership was essential in 2013 when the Merrimack and MVSB formally allied under a mutual holding company, New Hampshire Mutual Bancorp – the first relationship of its kind in New Hampshire. While both banks were strong performers, the partnership allows them to advance their shared vision of maintaining and enhancing their community banking standards and values in an industry of increasing regulatory costs and challenges. This growing relationship has made way for the Banks to expand their service areas, increase lending capacity, mitigate growing regulatory and technology costs and offer more career opportunities to their employee base. NHMB was chosen as Business NH Magazine’s 2015 Business of the Year for the Financial Services category. On April 1st of this year MillRiver Wealth Management officially became a third subsidiary of New Hampshire Mutual Bancorp. MillRiver combined the financial advisory divisions of The Merrimack and MVSB while expanding the delivery of Merrimack’s proprietary investment management and trust services to MVSB. New Hampshire Mutual Bancorp’s combined assets total nearly $1.5 billion.
Philip B. Emma will assume the role of President of Merrimack County Savings Bank effective January 1, 2016. He is currently Executive Vice President and Chief Operating Officer for New Hampshire Mutual Bancorp, and President of MillRiver Wealth Management. He will continue his role as President of MillRiver. Emma originally joined the Merrimack in 2000 as Senior Vice President, Chief Financial Officer and Treasurer, progressing to his present positions in 2010. Emma has 39 years of experience in financial and operational roles in public and private companies and financial institutions. He is a graduate of Bentley College, Waltham, MA and resides in Henniker, NH.
Emma has played a significant role with the American Bankers Association’s accounting group on projects such as purchase accounting for mutual to mutual mergers and, most recently, on a liquidity manual for banks. He currently volunteers his time as Board Member of the Greater Concord Chamber of Commerce and White Birch Community Center in Henniker. He previously served on the Boards of Riverbend Community Mental Health, Second Start, Canterbury Shaker Village, and Mount Kearsarge Indian Museum. Emma is a past member of the Capital City Rotary and Monadnock Region Rotary Clubs.
Other Executive Moves
Samuel L. Laverack will assume the role of sole President and CEO of New Hampshire Mutual Bancorp, after sharing that role with Rizzi since 2013. Richard E. Wyman, currently Executive Vice President and CFO, has been promoted to President of Meredith Village Savings Bank. Jason Hicks, the current Senior Vice President Corporate Treasurer and Investment Officer at NHMB has been promoted to CFO. Cindy Hemeon-Plessner, current Senior Vice President/Marketing Officer of Meredith Village Savings Bank has been promoted to Senior Vice President/Marketing Officer for New Hampshire Mutual Bancorp.