PORTSMOUTH – After 39 years at Piscataqua Financial savings Financial institution, President and CEO Rick Wallis will retire on Sept. 30.
Wallis, who has served as president and CEO since 2012, can be succeeded within the financial institution’s prime management place by Joan Gile, who has been with the mutual financial savings financial institution 34 years.
Gile would be the thirteenth president and CEO of the native financial institution, based in 1877. All 12 of her predecessors have been males.
“I’m honored to be the primary feminine president of the financial institution,” Gile, 61, mentioned in an interview Thursday.
Wallis, 62, joined Pisacataqua Financial savings Financial institution upon commencement from College of New Hampshire’s Whittemore Faculty of Enterprise in 1981. He was recruited right into a newly created officer coaching program and steadily rose via the ranks, spending the majority of his profession as a mortgage mortgage officer.
Wallis mentioned in retirement he and his spouse, Karene, are wanting ahead to touring and eagerly await the arrival of their first grandchild. He mentioned he’ll miss his every day interactions on the financial institution with its 41 workers and its roughly 10,000 clients.
“Most of my profession was spent within the lending space, serving to individuals purchase their first properties, serving to them with their funds,” Wallis mentioned. “I’ve met a whole lot of good individuals and made a whole lot of good associates, individuals who after 30 years nonetheless keep in mind me and are available to see me.”
Piscataqua Financial savings Financial institution has only one workplace, a lately renovated historic constructing positioned at 15 Nice St., within the coronary heart of Market Sq.. The financial institution is surrounded by well-designed gardens which might be open to the neighborhood. The financial institution’s bodily location displays its mission, which has the wants of its members and the communities it serves at its coronary heart. As a mutual financial savings financial institution, it’s owned by its members and ruled by 60 corporators chosen from its members and eight trustees chosen from the corporators.
Supporting native organizations
Wallis notes with delight that in his 10 years as president and CEO, Piscataqua Financial savings Financial institution donated greater than $1 million to neighborhood organizations concerned within the arts, housing, well being, senior residents and youth and youngsters.
Final yr, in the course of the pandemic, the financial institution donated $113,000 in help of native organizations together with the Portsmouth Clipper Robust Fund, PopUpNH, Cross Roads Home, Seacoast Household Promise, the Salvation Military and lots of others.
Jay Gibson, who retired as president and CEO in 2012, and who this month stepped down from his position as chair of the financial institution’s trustees, praises Wallis’ “insightful management,” and mentioned Gile has “the expertise, the schooling, and what it’s going to take to take care of this tradition and lead the Financial institution into the long run.”
Gile, who like Wallis lives in Dover, studied to be a instructor and took a banking job half time whereas on the lookout for an acceptable educating submit. Her husband, Michael, is a lately retired longtime math instructor at Dover Excessive Faculty.
“My diploma is in educating, however I went into banking and by no means regarded again,” Gile mentioned.
She has spent nearly all of her profession at Piscataqua Financial savings Financial institution on the operations aspect of the enterprise, or what she known as the “deposit aspect” of the enterprise. On the time of her promotion she was serving as government vp and deeply concerned within the financial institution’s strategic planning efforts.
Each Wallis and Gile be aware the financial institution’s 2019 certification as a B Corp by B Labs, certainly one of solely two banks in New Hampshire to earn this distinction, which acknowledges a enterprise’s dedication to the atmosphere, its employees, clients, neighborhood and the standard of its governance.
Piscataqua Financial savings is a small financial institution by trade requirements, with $350 million in belongings and a further $360 million in its belief division. Wallis mentioned the financial institution is properly capitalized to proceed its mission of serving its clients and the neighborhood properly into the long run.
“The banking trade in New Hampshire may be very robust,” Wallis mentioned. “It’s properly capitalized. We bought via the storm final yr very properly and I’m assured this financial institution specifically goes to be right here for the long run.”
Wallis mentioned he intends to stay energetic in neighborhood organizations throughout his retirement and can proceed to serve the financial institution as a corporator.