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Veteran banker Joe Reilly takes seat on The Provident board

By MICHAEL COUSINEAU
New Hampshire Union Leader

June 23. 2018 6:11PM
Joe Reilly, formerly of Eastern Bank, has joined The Provident Bank board of directors. He's seen here at the Provident branch in Bedford on Tuesday. (DAVID LANE/UNION LEADER)



Joe Reilly wasn't done with the state's banking world quite yet.

Reilly, 62, is joining the board of directors of The Provident Bank and Provident Bancorp.

"I feel like I still have a lot to offer," Reilly said last week.

Reilly has worked about 40 years in New Hampshire banking. He co-founded Centrix Bank in 1999 and served there as CEO until 2014. He became regional president of Eastern Bank, which acquired Centrix, until he retired last December.

At The Provident Bank, he will serve as one of 12 board members and also hold membership on the audit and risk committees.

Reilly said he has a non-solicitation agreement with Eastern Bank, prohibiting him from soliciting their employees or customers for 24 months.

Provident CEO Dave Mansfield said Reilly will help put a spotlight on the bank - with its five branches in New Hampshire - and its commercial lending.

"Joe is certainly very well known, and he's going to help us with just raising the awareness of The Provident Bank because we have been doing a lot of great things, and just maybe that full awareness isn't out there," Mansfield said.

Bill Stone, president and CEO of Primary Bank, worked with Reilly at Indian Head Bank and Centerpoint Bank. "I thought Joe was a very good banker," Stone said. "All of us had a high degree of respect for Joe."

Mansfield said Reilly will receive $30,000 to $35,000 a year in compensation plus will be "eligible to receive stock awards and stock options, which can be more significant."


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