Bank Announces Executive Transition
New President is a long-tenured Executive of the Bank
Marblehead, OH, October 18, 2011 –
The Marblehead Bank, the Peninsula’s only community bank with local
headquarters, has announced the appointment of William M. Tuttamore as their
next President. Following a well-designed succession plan, the bank has
promoted Tuttamore to succeed the retiring David B. King.
Tuttamore has been with The Marblehead Bank since 1992 as Vice President of
Lending and a Director. He has nearly 29 years experience in banking. Under
Tuttamore, the bank’s loan portfolio has grown 300% and Marblehead Bank has
established the reputation as a leader in local funding and maintaining a
strong commitment to local communities.
Mr. Tuttamore replaces longtime President David King, who retired from the
bank after 23 years of service at Marblehead Bank and 42 years in banking.
King noted, “Our staff is some of the best professionals in the business and
I will miss them and our customers that I have interacted with on a daily
basis.” As part of the succession plan, King will remain in an advisory role
during the transition and remain as a Board member. “I wish to thank David
for his many years of dedicated service to the bank, the board, the staff
and most importantly our customers. I know that his “retirement” from the
bank creates new opportunities to be with his family,” said William
“The Marblehead Bank is stronger than ever as we have just completed our
104th year in business and our current management team is very strong and
averages 25 years of experience with Marblehead Bank. Our transition will be
seamless and position us for a continued local focus as the Peninsula’s
community bank” said Thomas Lane, Chairman of The Marblehead Bank Board of
The Management staff, led by President Tuttamore includes;
(Left to Right): Deborah Stephens (AVP Cashier), Lori Fletcher (AVP
Manager), William Tuttamore (President), Patricia Pepa (AVP Customer
Service) and Peter Schwager (AVP Loans).
About The Marblehead Bank
The Marblehead Bank is an FDIC insured community bank that has served the
Marblehead Peninsula and greater Ottawa County since 1907. Being a locally
owned and operated financial institution, The Marblehead Bank contributes to
the economic well-being of the area and serves the banking needs of both
consumers and businesses. The Marblehead Bank is committed to serving the
local community and remaining a strong, independent community bank.