Robert W. Terravecchia, Jr., assumes Chairmanship
Coastal Heritage Bank officially announces that Joseph C. Hayes has retired as Chairman of the Bank, effective July 14, 2021. Mr. Hayes has served as Chairman of the Bank since Coastal Heritage Bank was formed in 2015 through the merger of Scituate Federal Savings Bank and S-Bank and subsequent merger with Equitable Bank in 2019. Prior to being Chairman of the newly formed Coastal Heritage Bank, Mr. Hayes served as President and Chief Executive Officer of Scituate Federal Savings Bank since 1991.
During his thirty-year tenure with the Bank, Mr. Hayes has been instrumental in growing the total assets from approximately $70 million to nearly $1 billion.
Mr. Hayes will remain a Director of Equitable Bancorp, MHC and Equitable Bancorp, Inc., which are holding companies for the Bank. He will continue to play an active role in corporate governance matters, enterprise risk management, strategic planning, and lending and investment activities.
Upon Mr. Hayes’ retirement, Robert W. Terravecchia, Jr., currently Vice Chairman, President & Chief Executive Officer of Coastal Heritage Bank, will assume the role of Chairman of Equitable Bancorp, MHC, Equitable Bancorp, Inc., and Coastal Heritage Bank. Mr. Terravecchia previously held the role of Chairman, President & Chief Executive Officer of both Equitable Bank and Weymouth Bank.
Robert Haley, currently a Director of Coastal Heritage Bank and former Vice President of The Bank Investment Fund, a subsidiary of The Co-operative Central Bank, will assume the role of Vice Chairman. Mr. Haley also serves on several committees, including, Asset Liability, Audit, HR, Non-Deposit Investment Products, and Strategy.