2013 STATEMENT OF CONDITION

Mascoma Mutual Financial Services Corporation & Mascoma Savings Bank
2013 STATEMENT OF CONDITION
Your Community Mutual Bank Since 1899
While 2013 started somewhat benignly and uneventfully for the
Bank, it soon became one of the most active and fruitful years in our
history. The Board and management had anticipated that it would
be another year of challenges because of the slow economy and the
low interest rate environment, and budgeted accordingly. Nationally,
recovery from the “Great Recession” has been less than robust as
growth in Gross Domestic Productivity (GDP) has averaged just a
whisker over 2 percent for the past five years, with three of the five
years below that number.
Historically low interest rates have persisted during this time as
well. These low rates continue to place earnings pressures on
most community banks, particularly those that depend upon
net interest margin as their primary source of income. While the
Upper Connecticut River Valley was spared the worst of the recent
economic calamity, economic growth locally would not be described
as vigorous. Be that as it may, New Hampshire and Vermont have
continued to slowly make progress with fairly stable economies and
this has been of great benefit to Mascoma Savings Bank.
Before the year was out, however, 2013 became one of the more
remarkable periods in the Bank’s history, when a number of
significant events occurred that put the Bank on much stronger
footing as we move forward. I encourage you to take a few moments
to read more about these changes on the pages that follow. I cannot
tell you how proud I am of our Board of Directors and the entire
staff of Mascoma Savings Bank. Each member has worked extremely
hard under the economic circumstances outlined above, in an
increasingly complex regulatory environment.
All of us are very thankful to each of our clients for their ongoing
support. I am confident that mutually owned
Mascoma Financial Services Corporation,
including the Bank, the Insurance Agency,
and the Wealth Management Division, will
continue to earn the trust and business of the
communities that we collectively serve.
Stephen F. Christy
President and CEO, Mascoma Savings Bank
A Commitment to Giving
Mascoma Savings Bank and the Mascoma Savings Bank
Foundation together gave $915,847 in community
grants in 2013. Including supporting the David’s
House “Keeping David’s Promise” Campaign.
In 2013 Mascoma Savings Bank and the Mascoma Savings Bank Foundation contributed to:
Abundant Life Church • American Cancer Society • American Heart Association • American Legion Post 25 • American Precision Museum • Ausbon Sargent Land Preservation
Trust • AVA Gallery and Arts Center • Barrett Memorial Hall • Bethel Area Rotary Club • Bethel Business Association • Bethel Community Forward Festival • Bethel Council on the
Arts • Billings Farm • BSA Troop 71 • Camerata New England • Canaan Elementary School • Canaan Fair Speedway - Make a Wish Foundation • Canaan Meetinghouse Readings
• Cantabile • Carter Community Building Association • Carz Limited • Center for Advanced Musical Studies • Central Vermont Adult Basic Education • CHaD • Chandler Music
Hall • Chapin Senior Center • Chelsea Farmers Market • Chelsea Public Library • Child and Family Services • City Center Ballet • City of Lebanon • Community Alliance of Human
Services • Community School Organization • Cover Home Repair • Creative Preschool • Crossroads Academy • Cystic Fibrosis Foundation • Destination Imagination • Enfield
Shaker Museum • Enfield Village Association Shaker 7 • Everybody Wins! Vermont • Friends of Alumni Field • Friends of Carson • Friends of Norris Cotton Cancer Center • Future
Business Leaders of America • Girls on the Run • Girls Scouts of the Green and White Mountains • Good Neighbor Health Clinic • Grafton County Senior Citizens Council • Grafton
Historical Society • Granite United Way • Habitat for Humanity - Kearsarge • Hanover Area Chamber of Commerce • Hanover High School • Hanover Lions Club • Hanover/
Lebanon Walk for Awareness • Harris Hill Ski Jumping • Hartford Area Career and Technology Center • Hartford Area Chamber of Commerce - Balloon Festival • Hartford Baseball/
Softball Association • Hartford Boys Baseball • Hartford Cal Ripken Baseball Program • Hartford High School • Hartford High School Alumni Association • Hartford Parks and
Recreation Department • Hartford Police Department • Hartland Christmas Project • Hartland Community Arts - JazzFest • Hartland Farmers Market • Hartland Old Home Day
• Hartland Parent, Teachers, Students, Friends • Hartland Recreation Department • Health Connections of the Upper Valley • High Horses Therapeutic Riding Program • Hopkins
Center • Howe Library • Justin Smith Morrill Homestead • Kearsarge Boys Track and Field • Kearsarge Chorale • Kearsarge High School • Kearsarge Varsity Hockey • Kelly Brush
Foundation • Kings Daughters and Sons • Lake Sunapee Protective Association • Lake Sunapee Region VNA and Hospice • Leadership New Hampshire • League of NH Craftsmen •
Lebanon Citizens Scholarship Fund • Lebanon High School • Lebanon Opera House • Lebanon Police Department • Lebanon Youth Baseball • Lucy Mackenzie Humane Society •
Mutual savings banks have their roots in philanthropy. The first
mutual savings bank was organized by The Reverend Henry
Duncan in Ruthwell, Scotland, over 200 years ago. Mascoma
Savings Bank was organized in 1899 by a group of individuals who
“invested” small sums of money to capitalize the Bank with no
expectation of any personal financial return.
Mascoma Savings Bank was the first mutual bank in either
New Hampshire or Vermont to organize and fund a charitable
foundation. Each year Mascoma Savings Bank contributes a portion
of its earnings to the Foundation for distribution in the community.
Since its establishment in 1988, the Mascoma Savings Bank
Foundation has contributed over $3 million to local non-profit
organizations.
But Mascoma Savings Bank’s commitment to the community
extends even further as the Bank continues to directly support local
non-profits every year. When taken together with the Foundation’s
contributions, Mascoma Savings Bank was the source of over
$900,000 in direct support for New Hampshire and Vermont-based
community organizations in 2013.
Photo taken at David’s House.
Lyme Town Band • Mad Bavarian Brass Band • Mascoma Cooperative Preschool • Mascoma Football Boosters • Mascoma High School • Mascoma Valley Health Initiative •
Monadnock Vineyard Church • Montshire Museum • Moondance • Mt. Ascutney Hospital • Mt. Kearsarge Indian Museum • Mt. Sunapee Area Ski Club • NESGFOA Conference •
New England Handicapped Sports Association • New London Barn Playhouse • New London Hospital • New London Rotary Scholarship Fund • Newport Teachers Association •
NH Charitable Foundation • NH Jumpstart Coalition • NH Prostate Cancer Ski Challenge • NH Special Olympics • North Country Chordsmen • North Country Community Theatre
• Northern NE Repertory Theatre Company • Norwich Historical Society • Norwich Public Library • Open Fields School • Opera North • Orange County Parent Child Center •
Orford Lions Club • Ottauquechee Community Partnership • Ottauquechee School • Pentangle Arts • People to People • Prevent Child Abuse • Project Vet Care • Randolph Area
Chamber of Commerce • Ray Roy Memorial Snow Much Fun Softball • Rio Blanco Social Club • Rivendell Academy • Sacred Hearth Parish • SCORE • Second Growth • Second
Wind Foundation • Shaker Bridge Theatre • Sharon Food Shelf • Shrine Maple Sugar Bowl • Shrine of Our Lady of La Salette • Skip’s Run • SolarFest • South Royalton School •
Springfield District Foster Parent Association • The Area Choir • The Family Place • The Fells • The Prouty • The Thompson Senior Center • Thetford Academy • Thetford Chamber
Singers • Town of Canaan • Town of Enfield • Town of Woodstock • Tuck Fun Run • Tunbridge Memorial Day Parade • Twin Valley Youth Hockey Association • Union Agricultural
Society • Union Arena • Upper Valley Aquatic Center • Upper Valley Business and Education Partnership • Upper Valley Community Band • Upper Valley Haven • Upper Valley
Hostel • Upper Valley Housing Coalition • Upper Valley Humane Society • Upper Valley Music Center • Upper Valley Robotics • Upper Valley Trails Alliance • Utility Club of Lyme •
Vermont Basketball Coaches Association • Vermont Institute of Natural Science • Vermont Volunteer Services for Animals • Veterans of Foreign Wars • Vital Communities • West Central
Behavioral Health • West Windsor Volunteer Fire Department • Whitcomb Athletics • Whitcomb High School • White River Craft Center • White River Indie Films • White River Lions
Club • White River Valley Chamber of Commerce • Wilmot Farmers Market • Wilmot Fire Department • Windsor Community Health Clinic • Windsor County Partners • Windsor
High School • Windsor Pee-Wee Football • Windsor Public Library • Windsor Recreation Department • Windsor Rotary Club • Windsor School District • Woodstock Area Chamber
of Commerce • Woodstock Historical Society • Woodstock Rotary Club • Woodstock Union High School • Young Life of the Upper Valley • Youth Managed Café • Zack’s Place
2013 was
a year of growth,
change, and great
accomplishments.
In April the Investment Advisory Division of Mascoma Wealth
Management opened in the Mascoma Building at 80 South Main Street
in Hanover, after having received trust powers from the OCC. Under the
direction of Bob Boon, the new investment advisory division would end
the year with $84.5 million under management. The wealth management
area as a whole ended the year with $219 million under management.
In March the Mascoma Insurance Agency opened it’s doors in a
bricks and mortar office in Lebanon under the leadership of Phil
Latvis, with a team of industry veterans and energetic newcomers.
2013
ONLINE
PHONE
IN PERSON
mascomabank.com
603.443.8710
2 South Park Street, Lebanon
January
February
March
April
May
June
After extensive planning, Mascoma
Savings Bank completed a beautiful new
office in Hartland, Vermont. Mike Tolaro
and his staff endured the temporary
trailer and kept our customers happy
throughout the five-month construction
period. The project not only exceeded
expectations, but actually came in ahead
of schedule and below budget.
Norm Frates joined the Bank in September, giving
Mascoma Savings Bank its first loan production office
in Woodstock, Vermont. Norm brings a significant
market presence in East Central Vermont, but primarily
in the greater Woodstock/Quechee area.
July
August
September
October
November
December
In November, the Bank announced its intention
to open a commercial and retail loan production
office in Burlington, Vermont. This will give the
Bank a physical presence in one of the more
dynamic markets in Northern New England, a
market where we have already been very successful
without a physical presence.
2013 became
one of the more
remarkable periods in
the Bank’s history.
Meanwhile, our team of commercial lenders put together a
spectacular year of loan growth. In total they closed $118.5
million in new loans, by far the largest one-year total in
Mascoma Savings Bank’s history. Dick Jennings and his New
Market Tax Credit team, as leaders in this field, continued to
develop new projects throughout Northern New England.
Even with this growth, total commercial loan delinquency
was only 70 basis points at year-end.
2013
January
February
March
April
May
June
< JOBS
+
July
August
September
At the end of 2013, the Bank formed a Community
Development Entity and applied for a 2014 allocation
of New Market Tax Credits. This shows our further
commitment to the market area and allows us to be an
even more active catalyst for job creation and economic
development in Vermont and New Hampshire.
On December 9, the Bank announced that it had
entered into an agreement to acquire Connecticut
River Bank, NA, and merge it into Mascoma Savings
Bank. If the Bank is successful in this endeavor,
Mascoma Savings Bank will add approximately $285
million in assets, 11 offices, and almost 70 employees.
The Bank’s market will extend from Lancaster and
the Great North Woods, down the Connecticut River
Valley to Keene and the Massachusetts border.
October
November
December
Our Bank is Your Bank
Mascoma Savings Bank is a mutually owned bank, which means it is
chartered to serve the community and is not owned by stockholders.
Today, only 8 percent of banks in the United States are mutually
owned, yet mutual banks are some of the best stewards of community
prosperity and among the most stable financial institutions. By
comparison, on average, mutual financial institutions exhibit greater
capital strength, with better risk-based capital and leverage ratios.
Mutual banks serve their customers better by paying higher interest on
deposits and charging less on loans, and are more efficient providers of
financial services.
Mascoma Savings Bank’s organizational structure further underlines its
commitment to respond to the needs our community. The Bank’s Board of
Directors is elected by the Mascoma Savings Bank Corporation members
who reflect the make-up and needs of the area where we live, and our 267
employees are integral parts of the communities we serve.
After 114 years serving our neighbors, it is more true than ever when we say, “Our bank is your bank.”
5 Years
10 Years
5 YEARS: Liza McSwain, Jessica Duncklee, Taryn Stoddard, Sarah Glick, Kayla Smith, Nathan Rivers, Brenda Curtis
10 YEARS: Lindsey Gardner, Shelley Best, Sherri Mason, Meagan Bocash, Gary Dixon, Maureen LaBonte, Sherry Jones
We are pleased to honor the following
employees for nearly four centuries of collective
service to the Bank and our customers.
15 Years
20 Years
25
Years
35
Years
40
Years
15 YEARS: Sadie Wells, Nancy Kendall, Michael Vanasse, Marcy Schaal, Elden Dube, Christina Rogers 20 YEARS: Catherine Ells, Heidi Chapman, Patti Jordan
25 YEARS: Christine Morin, Carol Cone 35 YEARS: Karen Slayton 40 YEARS: Linda Vincent
Moore Res.
2
Winoosk
i R.
93
Canaan
1151 US Route 4
603.523.4377
2
100
NEW HAMPSHIRE
Montpelier
302
17
80 South Main Street
603.643.1537
91
225 Lebanon Street
603.643.9829
12
100
Chelsea
14
25
89
5
.
Bethel
ticut R
t R.
ticu
nec
West Lebanon
70 Main Street
603.298.5933
Lyme
Norwich
Hanover
White River Junction
Woodstock
Lebanon
West Lebanon
Enfield
25
3
3A
Canaan
4
L. Winnipesaukee
16
Norwich
303 Main Street
802.649.1220
93
106
100
120
Windsor
16
New London
11
89
N e w
Woodstock
448 Woodstock Road
802.457.9842
Loan Production Office
2588 East Woodstock Road
802.457.1177
106
28
k R.
Windsor
100
105 Main Street
802.674.3463
91
28
11
3A
mac
243 Sykes Mountain Avenue
802.295.2223
Hartland
ri
Mer
White River Junction
263 Maple Street
802.295.5456
7
16
New London
259 Newport Road
25603.526.9306
Con
107
100
Chelsea
Main & Vershire Streets
802.685.4833
South Strafford
216 VT Route 132
802.765.4013
103
Connec
South Strafford
Hartland
Corner Routes 5 & 12
802.436.2141
Lebanon
67 North Park Street
603.448.3650
Lyme
1 Main Street
603.795.4300
110
Bethel
264 & 55 Main Street
802.234.9410
3
Hanover
45 Lyme Road
603.643.9180
V e r m o n t
VERMONT
16
302
Enfield
13 Main 93Street
603.632.5556
103
H a m p s h i r e
Concord
4
31
93
10
114
11
19 locations
18 ATMs
13 drive-ups
Countless friends!
Consolidated Statement of Condition
Mascoma Mutual Holding Corporation
and Mascoma Savings Bank
12 months ending
12-31-2012
12 months ending
12-31-2013
$14,894,916
174,983,988
40,103,488
675,068,344
117,686,400
792,754,744
(10,146,285)
782,608,459
20,792,526
35,208,910
$1,068,592,287
$11,860,181
153,653,044
30,222,422
738,719,333
133,875,302
872,594,635
(11,323,432)
861,271,202
21,471,455
39,770,013
$1,118,248,318
$267,668,238
504,384,219
772,052,457
$271,470,441
504,296,929
775,767,370
122,616,955
53,040,597
175,657,552
123,088,373
98,322,687
221,411,060
12,757,605
$960,467,614
8,377,779
$1,005,556,210
$109,500,047
(1,375,374)
108,124,673
$1,068,592,287
$113,334,168
(642,060)
112,692,108
$1,118,248,318
ASSETS
Cash and Cash Equivalents
U.S. Government Securities and Obligations
Other Investments
Real Estate Mortgage Loans
Consumer and Other Loans
Total Loans
Less: Allowance for Loan Losses
Net Loans
Bank Building and Equipment
Other Assets
TOTAL ASSETS
LIABILITIES
$
$118,500,000
Demand and NOW Deposits
Savings, Time and Other Deposits
Total Deposits
Sweep Accounts
FHLB Borrowings
Total Borrowings
Mascoma Savings Bank
closed $118,500,000 in
new commercial loans in
2013, infusing capital into
the twin state economy.
Other Liabilities
TOTAL LIABILITIES
CAPITAL
Retained Earnings/Surplus
Unrealized Gain/Loss on Investments/Pension, Net
TOTAL CAPITAL
TOTAL LIABILITIES AND CAPITAL FUNDS
Consolidated Income Statement
Mascoma Mutual Holding Corporation
and Mascoma Savings Bank
12 months ending
12-31-2012
12 months ending
12-31-2013
$39,179,408
7,046,275
$37,188,275
5,262,564
Net Interest Income
Provision for Loan Losses
32,133,133
975,000
31,925,711
2,650,000
Net Income After Provision for Loan Losses
Other Non-interest Income
misc fees, overdrafts, service charges
Gains/Losses on Sales of Securities
Other Non-interest Expenses
personnel, occupancy, other overhead
31,158,133
7,649,080
29,275,711
6,928,458
184,154
30,920,129
322,508
32,874,785
Income Before Income Taxes
Applicable Income Taxes
NET INCOME
8,071,238
1,267,262
$6,803,976
3,651,892
(182,229)
$3,834,121
INCOME
Interest Income on Loans & Investments
Interest Expense on Deposits & Borrowings
$120,000,000
Growth in Capital
Over Five Years
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
$440,000
2009
2010
2011
2012
2013
Mascoma Savings Bank is
empowered to allocate up to
$15,000 to new homeowners in
the form of an Equity Builder’s
Grant from the Federal Home
Loan Bank. Since 2006,
$440,000 has helped local
families buy their first home.
“To me Mascoma Savings Bank represents
the marriage of small town courtesy and
friendliness with the highest level of banking
sophistication and financial expertise.”
—Bob Bowers, Chair, Board of Directors
2013
Board of
Directors
Clayton R. Adams
Norwich, VT
CHAIR
Robert E. Bowers Jr.
New London, NH
VICE CHAIR
Gretchen E. Cherington
Meriden, NH
SECRETARY
Frank J. Leibly III
Taftsville, VT
Richard S. Bridgman Jr.
Hanover, NH
Timothy C. Briglin
Thetford Center, VT
Stephen F. Christy
Lebanon, NH
Paul B. Gardent
Etna, NH
Deirdre B. Goodrich
Norwich, VT
2013 Corporators
Clayton R. Adams
Norwich, VT
James L. Damren
West Lebanon, NH
Meredith M. Johnson
Lebanon, NH
Sally A. McEwen
Lebanon, NH
Hildegard Ojibway
White River Junction, VT
Pamela B. Bean
Lebanon, NH
Lang Durfee
Bethel, VT
Jean E. Kennedy*
Plainfield, NH
Daniel B. McGee
Lebanon, NH
Patricia A. Palmiotto
Hanover, NH
Jay Boucher
Enfield, NH
Patti E. Friedman
White River Junction, VT
Edward T. Kerrigan
Hanover, NH
Edward D. McGee Jr.*
Canaan, NH
Chester R. Pasho
Hartland, VT
Robert E. Bowers Jr.
New London, NH
Paul B. Gardent
Etna, NH
Sara L. Kobylenski
North Hartland, VT
Deborah Field McGrath
Grantham, NH
Rebecca S. Powell
Enfield, NH
Richard S. Bridgman Jr.
Hanover, NH
Deirdre B. Goodrich
Norwich, VT
Patricia A. Ladd
Chelsea, VT
Virginia L. McGrody
Enfield, NH
Scott W. Putney*
Bethel, VT
Timothy C. Briglin
Thetford Center, VT
Judy L. Hayward
South Royalton, VT
David P. Laurin
White River Junction, VT
Robert L. Meyers
Woodstock, VT
Susan A. Reeves
New London, NH
Gretchen E. Cherington
Meriden, NH
Allen J. Hinkle
Lebanon, NH
Teresa J. LeBlanc
New London, NH
Katherine J. Milligan
Thetford, VT
Catherine Richmond
Norwich, VT
Stephen F. Christy
Lebanon, NH
John A. Hochreiter*
Etna, NH
Frank J. Leibly III
Taftsville, VT
Robert N. Ricker
Lebanon, NH
Stuart T. Close
Norwich, VT
Katharyn R. Hoke
New London, NH
Jennifer F. Levy
Norwich, VT
Margaret N. (Peggy)
Mitchell*
Canaan, NH
Susan E. Coburn
South Strafford, VT
Ralph Degnan Hough
Grantham, NH
Joseph M. Longacre†*
Lyme, NH
Doug Cooley
Windsor, VT
Kathleen C. Hoyt†*
Norwich, VT
Ann E. Marchewka
Lebanon, NH
Philip N. Cronenwett
Enfield, NH
Joy L. Hutchins
Plainfield, NH
Peter A. Mason
Lebanon, NH
Carol Ann Cunningham
Woodstock, VT
Daniel P. Jantzen
Etna, NH
Barry E. McCabe
West Hartford, VT
Daniel P. Jantzen
Etna, NH
Edward T. Kerrigan
Hanover, NH
Sara L. Kobylenski
North Hartland, VT
Shelley M. Seward
Brownsville, VT
Susan E. Mooney
Grantham, NH
Anne M. Sprague
Plainfield, NH
Robert E. Moses†*
Lebanon, NH
Thomas F. Terry*
White River Junction, VT
Gary R. Neil
Quechee, VT
Tami J. Weeks
Windsor, VT
Sonia O. O’Bannion
White River Junction, VT
Patricia O’Neill
Windsor, VT
Barry E. McCabe
West Hartford, VT
Todd P. Winslow
Wilder, VT
†
Former Chair, *Former Director
Patricia A. Palmiotto
Hanover, NH
Catherine Richmond
Norwich, VT
2013 Officers
Stephen F. Christy
President, Chief
Executive Officer
Barry E. McCabe
Executive Vice
President, Chief
Operating Officer
Kevin P. Beauregard
Senior Vice
President, Program
Manager, Mascoma
Financial Advisors
Robert T. Boon
Senior Vice President,
Wealth Management
Debra L. Carter
Senior Vice President,
Retail Services
Doreé A. Clifford
Senior Vice President,
Retail Operations
Carolyn A. Coker
Senior Vice President,
Municipal and Cash
Management Services
Carol A. Cone
Senior Vice President,
Operations
Gregory F. Kennedy
Senior Vice President,
Commercial Services
W. Grant MacEwan
Senior Vice
President, Senior
Commercial Lender
Christine E. Morin
Senior Vice President,
Loan Administration
Samantha L. Pause
Senior Vice President,
Marketing, Sales
and Service
Kevin J. Raleigh
Senior Vice President,
Commercial Loan Officer
Donald N. Thompson
Senior Vice President,
Chief Financial Officer
and Treasurer
Kenneth D. Wells
Senior Vice President,
Retail Lending and
CRA Officer
Beverly A. Widger
Senior Vice President,
Human Resources
Arlene F. Adams
Vice President,
Commercial Loan Officer
Todd D. Allen
Vice President, Senior
Wealth Advisor, Mascoma
Investment Management
Peter E. Begin
Vice President,
Security and Fraud
Prevention Officer
Martha P. Candon
Vice President, Sales and
Service Training Director
Heidi L. Chapman
Vice President,
Operations Officer
Laura T. Curt
Vice President, Senior
Underwriter
Terrie M. Donnell
Vice President, Compliance
Elden N. Dube
Vice President,
Commercial Loan Officer
William P. Dunn
Vice President,
Commercial Loan Officer
Catherine A. Ells
Vice President, Controller
Norman J. Frates
Vice President,
Mortgage Loan Officer
Evelyn M. Jaros
Vice President,
Retail Operations
and BSA Officer
Richard S. Jennings
Vice President,
Commercial Loan Officer
Sara L. Johnson
Vice President, Loan
Administration
Richard F. Kozlowski
Vice President, Residential
Mortgage Lending Manager
James E. Larrick
Vice President,
Commercial Loan Officer
Philip S. Latvis
Vice President, Mascoma
Insurance Agency Manager
Michelle M. Leclair
Vice President,
Commercial Loan Officer
Terry W. Martin
Vice President,
Commercial Loan Officer
Bruce G. McLaren
Vice President, Senior
Portfolio Manager,
Mascoma Investment
Management
Shirley A. Mower-Fenoff
Vice President, Retail
Operations Officer
Kimberley M. Robinson
Vice President, Senior
Portfolio Manager,
Mascoma Investment
Management
“Community Bank is a term that is hard to define, but you
know it when you see it and feel it. As a longtime resident of
this area, it couldn’t be clearer to me that Mascoma Savings
Bank is a fundamental part of the fabric of our community.”
—Bill Blaiklock, Assistant Vice President, Branch Manager
Glen S. Valentine
Vice President, Administrative
Services Officer
Elizabeth A. Williams
Vice President, Secondary
Market and Risk Management
John M. Ziegler
Vice President, Commercial
Loan Officer
Marguerite A. Bauch
Assistant Vice President,
Branch Manager
Nancy M. Bean
Assistant Vice President,
Loan Officer
William P. Blaiklock
Assistant Vice President,
Branch Manager
Lori E. Brown
Assistant Vice
President, Benefits and
Recruitment Officer
Linda W. Cole
Assistant Vice President,
Branch Manager
Florence A.
Courtemanche
Assistant Vice
President, Loan Officer
Rita B. DeGoosh
Assistant Vice President,
Branch Manager
Perry L. Eaton
Assistant Vice President,
Technology Officer
Pamela B. English
Assistant Vice
President, Loan Officer
Lindsey D. Gardner
Assistant Vice President,
Branch Manager
Sheila M. Jacobs
Assistant Vice President,
Branch Manager
Sheryl A. McDevitt
Assistant Vice President,
Employee Education and
Development Officer
Doreen G. McKinney
Assistant Vice President,
Marketing Manager
and Platinum Passport
Club Director
Bonny L. Mock
Assistant Vice President,
Branch Manager
Kathie J. Nolet
Assistant Vice President,
Human Resources
Operations Officer
Nelly G. Palmer
Assistant Vice President,
Senior Credit Analyst Officer
Catherine A. Ploof
Assistant Vice President,
Loan Officer
Lauren B. Schumacher
Assistant Vice President,
Consumer Loan
Underwriter II
Karen A. Slayton
Assistant Vice President,
Branch Manager
Cheryl J. Treworgy
Assistant Vice President,
Branch Manager
Sadie M. Wells
Assistant Vice President,
Branch Manager
Jamie R. Whyte
Assistant Vice President,
Branch Manager
Patrick J. Abatiell
Financial Consultant
Officer, Mascoma
Financial Advisors
Jennifer S. Bellimer
Assistant Branch Manager II
Henry C. Clark
Collections Officer
Fletcher S. Cole
Chief Investment
Officer, Mascoma
Investment Management
Teresa J. Fazio
Underwriter II Officer
Robin L. Gray
Finance/Accounting
Officer
Thomas W. Hoyt
Business Development
Officer
Cindy L. Landeryou
Branch Manager
Richard A. Lemay
Branch Manager
Cheryl A. Lindberg
Business Development
Officer
Gayle L. McFarland
Electronic Services
Officer
Melanie G. Morse
Operations Officer
C. Michael Sanderson
Branch Manager
Anthony J. Scola
Financial Consultant
Officer, Mascoma
Financial Advisors
Charles M. Taylor
Branch Manager
Ryan L. Tremblay
Mortgage Loan Officer
Elizabeth A. Vessichio
Commercial Loan Officer
Linda S. Vincent
Deposit Services Officer
Virginia L. West
Branch Manager
OUR VISION is to remain a mutually owned
financial services company committed to exceeding
the expectations of our customers, community, and
employees.
OUR MISSION is to profitably provide, with
knowledgeable service and convenient access,
a broad array of financial products and services
designed to meet the changing needs of our
consumer and business customers.
OUR PURPOSE is to deliver exceptional
customer service while improving our community
and customers’ lives.
Quickvoice: 800.707.3553
Toll Free: 888.627.2662
www.mascomabank.com
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