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Updated: April 2, 2025

CEO of Sanford-based Partners Bank to retire; successor named

Anthony Cataldi and Blaine A. Boudreau of Partners Bank Photo / Courtesy of Partners Bank Anthony Cataldi, left, will succeed Blaine A. Boudreau as president and CEO of Partners Bank, a mutual savings bank based in Sanford.
By Renee Cordes

After more than seven years at the helm of Sanford-based Partners Bank and 40 years in the industry, Blaine A. Boudreau plans to retire this year.

Boudreau will give up his duties as president on June 30, and stay on as CEO for another three months before passing the baton to Anthony Cataldi, who currently serves as executive vice president and chief operating officer.

Cataldi will take on both leadership roles, while Boudreau will stay on through the end of this year as a consultant to the management team and board.

"I am thrilled to have had the pleasure of working with Anthony for many years,” Boudrea said of his successor. “Anthony’s accomplishments throughout his career make him an outstanding candidate to lead the organization forward.”

Cataldi joined Partners Bank in 2011 as senior vice president and chief operating officer. He became chief risk officer in 2014. Three years later, he became an executive vice president and chief operating officer overseeing lending, marketing, branch administration, operations and IT functions.

'Smooth transition'

Bruce McNamee, the bank’s board chairman, praised Cataldi’s "tremendous knowledge and capabilities," strong work ethic and dedication to the communities served by the bank.

"The board has the utmost confidence that the transition will be a smooth one," he said.

Partners Bank, founded in 1933, is a mutual savings institution with $1.06 billion in assets. 

Among Maine-based banks, Partners Bank is ranked No. 15 in the 2025 Mainebiz Book of Lists. Banks were ranked by assets as of June 30, 2024.

In addition to Sanford, Partners Bank has branches in Springvale, South Sanford, Limerick, Buxton, Waterboro, Wells and York. In New Hampshire, Partners Bank has branches in Portsmouth, Rye and Kingston.

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