A Ware-based financial institution will have its first woman president in the 174-year history of the business, as Mary McGovern has been named the next president of Country Bank.
McGovern has more than 30 years of experience in the banking industry, according to a Friday press release issued by the bank.
She has served as the bank’s CFO since 2011 and had the responsibilities of chief operating officer added to her role in 2022, according to her LinkedIn page. She will remain in the COO role when she takes over as president on April 1.
McGovern takes over the president’s role from Paul Scully, the current president and CEO at Country. He will remain in the CEO position following McGovern’s appointment, according to the release.
“We are thrilled to announce Mary’s appointment as the next president of Country Bank,” James Phaneuf, chair of the board at Country, said in the press release. “Mary’s proven track record, dedication, and strategic vision make her the ideal candidate for this role. We are especially proud to break the proverbial glass ceiling by appointing the first female president in Country Bank’s 174-year history.”
McGovern holds an MBA in accounting and finance from Babson College in Wellesley and a bachelor’s degree in mathematics from Emmanuel College in Boston, according to her LinkedIn page. She also holds a certification in leadership from the American Bankers Association Wharton Leadership Lab at the University of Pennsylvania.
Founded in 1850, Country Bank is the 24th largest bank in Central Massachusetts when ranked by local deposits, as it has local deposits of $362.4 million as of June 30, 2022, according to the data from the Federal Deposit Insurance Corp. provided for the 2023 WBJ Book of Lists.
