Benjamin S. Wheeler
President and CEO of Piscataqua Savings Bank
A new chapter has begun at one of the Seacoast’s oldest financial institutions. Benjamin S. Wheeler, a sixth-generation Portsmouth native and longtime banker, was named president and CEO of Piscataqua Savings Bank, following the retirement of former CEO Joan Gile earlier this year.
Founded in 1877, Piscataqua Savings Bank has served the Portsmouth area for nearly 150 years. As a small mutual bank with no shareholders, it remains a rarity in the modern financial landscape—something Wheeler explains is both a privilege and a competitive edge. “We’re a unicorn in the banking space,” he says. “There aren’t many banks with just one branch anymore. Every dollar stays in the community, and that really matters to the people we serve.”
Wheeler, a University of NH graduate, has worked in commercial lending at large institutions like Citizens Bank and smaller community banks, including First Colebrook Bank. But it was always Piscataqua Savings Bank that drew him in.
“I always wanted to work here,” Wheeler says. “It started after having coffee with Jay Gibson, a former president. When Rick Wallace was retiring, they created a business development officer position that aligned with my background. I’ve been here four years now, and I couldn’t be happier.”
Piscataqua Savings Bank has approximately $360 million in total assets and a staff known for its tight-knit culture and dedication to customer service, Wheeler says. The bank’s sole location in downtown Portsmouth serves customers from nearby communities including Rye, Dover, and Kittery. “I’m surrounded by a really good team,” Wheeler says, describing his style as collaborative. “I like to motivate people to see the big picture, work to their strengths, and delegate authority. We all have weaknesses, but it’s about recognizing where we succeed and supporting each other.”
That collaborative mindset is a key part of what sets Piscataqua Savings Bank apart, Wheeler says. While many financial institutions have expanded or been acquired, Piscataqua has maintained its independence and mission-driven structure. As a certified B Corporation since 2019, the bank meets rigorous standards for social and environmental performance, transparency, and accountability. “We’re small, but we punch above our weight class,” Wheeler says.
Wheeler’s family has a long history in Portsmouth. One of his ancestors, Sgt. James Wheeler, kept a logbook listing the bank’s depositors in the late 19th century—an artifact still preserved by the bank. That deep connection to the community informs Wheeler’s commitment to its future.
Wheeler is passionate about the outdoors including fishing for lobster and tuna out of Rye Harbor and skiing. “I love being outside—skiing, boating, fishing. It’s part of what keeps me grounded and connected to this place,” he says.
Under Wheeler’s leadership, Piscataqua Savings Bank plans to remain firmly rooted in its values while continuing to evolve to meet modern financial needs. “Our goal is simple,” Wheeler says. “To make smart loans, bring in deposits, and keep supporting the community that built this bank in the first place.”
