Newtown Savings Bank Announces Succession Plan
This report was updated May 4 correcting theÃÂ title for John F. Trentacosta.
The Newtown Savings Bank Board of Directors has announced organizational changes resulting from its yearlong succession planning efforts.
Effective January 1, Kenneth L. Weinstein will succeed John F. Trentacosta as president and CEO. Mr Trentacosta has previously announced his planned retirement effective December 31, after 19 years with the bank.
Anthony F. Giobbi will assume the new role of chief banking officer, also effective on January 1. Both Mr Weinstein and Mr Giobbi will immediately receive the corporate titles of executive vice president until they assume their new roles in January.
The board also announced that effective in January 2018, Mr Trentacosta will succeed John J. Martocci as chairman of the Board of Directors, with Mr Martocci remaining on the board.
Mr Weinstein joined the bank in November 2011, and assumed the role of senior vice president of retail banking in May 2013. He is a career banker, having spent almost all of his career in a community bank environment.
He is an accomplished leader with an inspirational style that is contagious, and has a passion for enhancing the customer experience. In addition, his technical depth and operational experience will serve him well in this new and very challenging role.
Mr Weinstein is a graduate of Dartmouth College and holds an MBA from Harvard.
Mr Giobbi joined the bank in March 2014, as senior vice president of commercial lending, and in July 2015 he was appointed chief lending officer.
Throughout his banking career he has enjoyed mentoring new lenders, building new business relationships, and utilizing his talent for finding the right lending solution for the customer. Under his leadership, the bank's commercial loan area experienced significant growth over the last few years.
Mr Giobbi holds an undergraduate degree from Cornell University and an MBA from New York University Stern School of Business.
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