2021 Power 50: Mark O’Connell
Mark O’Connell, president & CEO, Avidia Bank
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Small employers in Central Massachusetts and far beyond needed federal financial help fast last year when the coronavirus pandemic hit, and no locally-based bank provided more Paycheck Protection Program funds than Hudson’s Avidia Bank.
Avidia, led by Mark O’Connell, processed more than $1 billion in PPP loans through last summer, and its leadership and staff were among those in the banking industry who told of working nearly around the clock, often remotely, to help their commercial clients receive funds through the U.S. Small Business Administration program set up in the $2-trillion CARES Act of March 2020.
Nothing can compare to the pandemic, but O’Connell, the bank’s head since 2004, has seen Avidia through far more than that. He was the head of Hudson Savings Bank at the time it merged with Westborough Savings Bank to form Avidia in 2007. Today, Avidia has more than $2 billion in assets, compared to less than $950 million at the time of that merger.
What do you think the future holds for Central Mass.? “Central Massachusetts has a bright future, with many people moving west from Boston. New businesses are coming to the community, and Central Massachusetts is experiencing a lot of growth.”
Off hours: O’Connell enjoys golf, travel, and has a home on Cape Cod.
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