bankHometown parent company names new CFO
Photo I Courtesy of Hometown Financial Group
Reed Whitman, executive vice president, chief financial officer of Hometown Financial Group
Hometown Financial Group, the Easthampton-based mutual multibank holding company of bankHometown in Oxford, has hired Reed Whitman as its new executive vice president, chief financial officer.
Whitman comes to the $6.5-billion parent company with more than 20 years of experience in leading mergers and acquisitions, balance sheet restructuring, and process redesign and execution. He most recently served as treasurer of Brookline Bancorp, a Boston-based multibank holding company with $11.5 billion in assets, according to a Tuesday press release from Hometown.
“Reed’s extensive experience in financial strategy, scaling operations, and transformative mergers and acquisitions will play a pivotal role in ensuring our company is poised for continued financial success while allowing our banks to focus on sustained growth in their individual markets,” Hometown President and CEO Matt Sosik said in the release.
Whitman succeeds previous executive vice president, chief financial officer, and treasurer Gilbert Ehmke, who is retiring from his roles after a nearly 10-year career with the company.
“We’re grateful to Gil for his years of dedication to Hometown Financial, driving years of strong financial performance and solidifying our position as one of the largest mutual bank holding companies in the country. We congratulate Gil and wish him well in his retirement,” Sosik said in the release.
Whitman graduated with his bachelor’s degree from Trinity College in Connecticut and his master’s degree from Boston University’s Questrom School of Business, according to his LinkedIn profile.
“I look forward to working with everyone at Hometown Financial to have a hand in ensuring the organization remains able to execute its long-term growth strategy,” Whitman said in the release. “I’m excited to play a significant role in helping Hometown Financial remain a leading player in the region’s financial landscape.”
With $823.6 million in local deposits, bankHometown is the 15th largest bank in Central Massachusetts when ranked by local deposits as of June 30, 2023, according to data collected by WBJ’s Research Department.
In addition to bankHometown, Hometown Financial Group is the parent company of Easthampton-based bankESB and its division Hometown Mortgage, in addition to Peabody-based North Shore Bank and its division Abington Bank.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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