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Bank President Rick Wyman to Hand Over Reins

Published Wednesday Jun 8, 2022

Bank President Rick Wyman to Hand Over Reins

Throughout the past 21 years, Richard E. Wyman’s contributions as a leader at MVSB (Meredith Village Savings Bank) and as a dedicated community champion have been significant.

Wyman joined MVSB as executive vice president and chief financial officer in 2001 and assumed the role of president of MVSB on January 1, 2016.

When MVSB partnered with Merrimack County Savings Bank to form NH Mutual Bancorp (NHMB) in 2013, Wyman served as its first executive vice president and chief financial officer. He was one of the initial architects of this alliance of mutual savings banks and has been essential in stewarding its success for nearly a decade. In this shared services model, NHMB now provides operational support for three premier independent mutual savings banks: Meredith Village Savings Bank, Merrimack County Savings Bank and Savings Bank of Walpole, and a financial advisory and trust company, NHTrust. The formation of NHMB was the first relationship of its kind in northern New England, allowing each company to share supporting functions and technology to create overall efficiencies – while also enhancing their commitment to their communities.

Governor Christopher Sununu appointed Wyman to the board of directors for the NH Community Development Finance Authority (CDFA), an organization that provides financial resources to nonprofits, community development organizations, counties, municipalities and for-profit businesses. These organizations, in partnership with the CDFA, create affordable housing, aid in the formation of new jobs and help retain existing employment for low- and moderate-income residents of NH.

“I felt very privileged to have been selected to serve on the NH CDFA board,” said Wyman. “I enjoyed assisting the CDFA in their efforts to support affordable housing and economic development activities statewide.”

Under Wyman’s guidance and recommendation, sister banks, MVSB, Merrimack County Savings Bank and Savings Bank of Walpole were the first three banks to contribute to the NH Nonprofit Response Fund with a combined tax credit purchase. This fund provided nonprofit organizations with resources of up to $100,000 for working capital, equipment purchases and programming expenses, providing resources to qualifying community-based organizations on the front lines of the COVID-19 outbreak.

Wyman has also been an essential member of the banking community. In 2018, Wyman was elected to the board of directors for the Federal Home Loan Bank of Boston (FHLBank Boston). Governed by a 17-person board, members are elected by FHLBank Boston member institutions for four-year terms. Together with its member institutions, the Federal Home Loan Bank System represents the largest collective source of home mortgage and community credit in the U.S. The System ensures that members provide stable, on-demand, low-cost funding to its communities through home mortgages and lending for small business as well as rural, agricultural and economic development.

Wyman also lead the bank through the challenges of the pandemic and, in addition to his continued emphasis on support of the community, Wyman took great care to provide a safe banking environment for employees and customers. As such, MVSB maintained record growth and low employee turnover and was able to continue to provide exceptional banking service throughout. While many staff and their families were affected, the efforts of management ensured employees continued to feel valued and appreciated.

During his career, MVSB grew four fold from $315 million in assets to $1.3 billion today, increased its footprint from the Lakes Region to the Seacoast Region and cemented its position as a leading bank in our state. John Moulton, chair of the board of directors for MVSB, said, “His efforts have created a stronger bank for our company and our community."

NHMB President and CEO, Gregg Tewksbury echoed Moulton’s comment and added, “Rick has not only lead MVSB to become one of the strongest banks in NH but has been influential in helping lead all of our companies to higher and stronger levels.”

Marcus Weeks, who has been appointed as Wyman's successor will take over the role as MVSB president on October 1. Weeks was a clear choice of the board with Wyman’s support and confidence in him. Wyman noted that Weeks is a known talent within the company, respected by all, and is well established in the community through his extensive volunteer commitments throughout his many years with the bank.

Weeks began his banking career in 1995 as a student-teller for MVSB’s Center Harbor Office, at just 16 years old. In his nearly 30 years with the bank, he has served as a mortgage originator, business development officer, and branch manager for MVSB’s then-new Wolfeboro office – a range of experience that has helped him gain unique and broad perspective of the organization and the important role mutual banks play in the communities they serve. Since 2018, he has successfully lead the branch and business development network as senior vice president and senior retail banking service officer.

“Rick has provided me advice and guidance for nearly all of my career,” said Weeks. “He’s helped me to develop into a stronger banker, and more inclusive and empathetic leader. I have enjoyed working very closely with him for the last six years and I am humbled to follow in his footsteps.”

For the past four years, Marcus has contributed at the senior management level of MVSB as an active member of leadership teams, both at MVSB and within the entire NHMB organization. He’s played a critical role in the current branch expansion efforts including the new location in Rochester. Having the largest number of employees reporting to him at MVSB, he’s been influential in creating an employee-first culture and is highly respected among his staff and peers in the company. Wyman noted, “Marcus is a natural leader and has both the experience and talent to lead MVSB to the next level. I’m excited for him and am confident that he will preserve all that our constituents value at our bank and be an incredible steward of this community asset for years to come.”

Weeks said, “Rick has positioned MVSB well enough that I will be able to focus on the things that are really important, such as excellent service and products and being engaged in the communities we serve. I look forward to nurturing the existing markets currently being served by our bank while exploring growth opportunities in other areas. The future is exceptionally bright for us and I’m privileged to have the opportunity to lead it forward.”

As a long-term member of the MVSB community, Weeks worked with many nonprofits including the Lakes Region Visiting Nurse Association, the Boys & Girls Club of Central New Hampshire and Geneva Point Center.

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Caption: Richard Wyman, MVSB President. Marcus Weeks, Future MVSB President.

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