May 12, 2017
Lowell, MA – May 12, 2017 – Sage Bank Board Chairman Kenneth Bishop announced today that Diane L. Walker of Reading has been appointed as the Bank’s next President effective May 15, 2017. Ms. Walker joins the Board of Directors with this announcement.
“Diane has impressed us with her ability to work with the Board and senior management,” said Bishop. “She has also demonstrated an extraordinary commitment to the Bank working as she has on critical projects as an external financial consultant over the past several months. We are delighted that she is willing to take on this critical role.”
“I’m excited by the confidence placed in me by the Board and look forward to leading such a hard- working, dedicated and conscientious group of employees,” said Ms. Walker.
Ms. Walker joined Sage Bank as a financial consultant in the fall of 2016, filling a critical need caused by what was then a vacancy in the role of chief financial officer. She brings a broad range of experience in public accounting and financial services in the areas of strategic planning, capital planning, financial reporting, SEC and regulatory reporting, risk management and corporate governance – all gained as an independent consultant for various small and mid-sized community banking organizations.
Ms. Walker previously held positions as vice president and controller at Andover Bank, a $1.6 billion publicly traded company; executive vice president, treasurer and chief financial officer of River Bank, and its parent organization LSB Corporation, a $800 million publicly traded company; and until 2014, senior vice president and chief financial officer at the Lowell Five Cent Savings Bank, a mutually- owned bank with assets of $900 million at the time of her departure. Earlier in her career, she worked at Lowell Institution for Savings and KPMG. Ms. Walker was previously president of the Financial Managers Society of Boston, member of the Massachusetts Society of CPA’s, and served on the Federal Home Loan Bank of Boston Member Advisory Panel as well as several committees with the Massachusetts Bankers Association.
Ms. Walker earned her Bachelor of Business Administration in Accounting from the University of Massachusetts, Amherst and resides in Reading, Massachusetts with her family. She has been an active volunteer in the public school district and a fundraiser for multiple youth sports programs in her hometown and is currently a member of the Advisory Board of Lazarus House Inc., a non-profit serving low income and homeless individuals with housing, clothing and job opportunities in Lawrence, Massachusetts.
With assets in excess of $140 million, Sage Bank has been serving the banking needs of the Greater Lowell community since 1885. With two full service banking centers, a lending and an operations center in Lowell, Massachusetts and five residential lending centers throughout Massachusetts, Sage Bank offers customers commercial, residential and consumer products and services. All deposits are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Share Insurance Fund (SIF) of the Co-operative Central Bank.