Machias Savings taps new president
Edward Hennessey Jr. will step down as president of Machias Savings Bank, but will remain CEO.
As of Oct. 1, Hennessey will relinquish his role as president and hand over duties to Lawrence Barker, a 20-year bank veteran, according to the Bangor Daily News. Hennessey said the move is part of "succession planning," and said he will still be at the bank every day. Barker began at the bank in its collections department in 1991 before moving into its business banking division. In the next year, the bank plans to increase its presence in coastal, Down East and eastern Maine from Bangor north, Hennessey told the paper. The company is building a location in Brewer that will serve as the headquarters of its business services department.
Machias Savings has more than 200 employees and 13 branches from Rockland to Houlton. As of June 30, it had $9.4 million in assets.
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