Making History at Dean Bank

Above, Wayne Cottle, a long-time figure at the bank and in the community.

Dean Bank,  has been a key part of the town since its founding in 1889.  And some of the changes to the bank's Board of Directors, announced by Kevin R. Goffe, President and CEO, after the January annual meeting, are themselves historic.

For one thing,  he announned the retirement of Wayne Cottle of Franklin, from his role as Chair of the Board / Director; ending a tenure of service to the bank and its customers that began when hired as its president in 1976. That was even before the town celebrated its bicentennial! 

Wayne retired from the bank in 2014 but had remained as a Director; making in total a span of over 45 years of service. During his tenure, he has focused his energies on advancing the role and responsibility of community banking at the local, state and national levels. A passionate advocate for community banks, Wayne was an active member of the Community Bank League of New England and Mass Bankers Association. He was an active participant in industry affairs and testified on behalf of community banks before both the Massachusetts Joint Committee on Banks and Banking and the US Senate Banking Committee in Washington.

Cottle tirelessly represented community banks nationally as well. He served as National Secretary and Executive Committee member of the Independent Community Bankers of America in Washington. He served as Chairman, Mutual Bank Council and worked with mutual institution executives nationally on issues of concern.

 “Wayne has been the face of community banking in our area for a half a century," Goffe said. He went on to credit Cottle with growing  Dean Bank from an institution with about $5 million in assets and cared for his customers and his community with passion and with integrity." Wayne’s positive impact will be felt for many years to come and the bank is better for his presence here. Wayne’s oversight and guidance will be deeply missed,” he added.

A New Face

Christine Molla of Wrentham, MA was elected to the bank’s Board of Directors; becoming the first female Director in the bank history.  “Christine’s contributions to the greater Franklin community are well-documented," said Goffe. "She’s been a leader in the local small business community as Broker/Owner of Costello Realty for years. Her commitment, her passion for service and her enthusiasm made for an ideal candidate to serve on the bank’s Board. Becoming the first female director makes it all the more impactful. Our customers will be well-served with the addition of Christine to the Board,” said Goffe.

In addition, Daniel J. Ranieri of Bellingham, MA was elected as the bank’s Chair of the Board of Directors. A former member of the Bellingham School Committee and former State Representative, Ranieri has served as a Dean Bank Director since 1994.  “Dan’s has been a valued member of the bank’s Board for the past 28 years. I congratulate Dan and look forward to working with him in his new role," said  Goffe.

Dean Bank is a state-chartered, mutually owned institution with assets approaching $450 million. The bank has offices located in Franklin, Blackstone, Bellingham, and Mendon. As a member of both the FDIC and the DIF, the bank’s deposits are insured in full.