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Northfield Savings Bank Chair of the Board of Trustees, John W. Lyon, announces today that Thomas S. Leavitt, President and CEO of the Bank, will be retiring in early autumn 2025.

Leavitt has served as NSB’s 14th president since October 1, 2014.  He previously served as president and CEO of MountainOne Financial in Massachusetts, had long tenure on the leadership team of Merchants Bank in Vermont, and worked nationally in the industrial distribution and safety equipment sectors.  He grew up in Burlington, Vermont and earned degrees from University of New Hampshire and University of Pennsylvania Wharton School.

Commenting for the Board, Lyon states, “Tom has served NSB with exceptional distinction, embodying our values and leaving an enduring legacy of leadership and vision.  He has made our company, our customer base, and our communities stronger by his devoted efforts over the past decade plus.”  Lyon continued, “Tom’s contributions are widely recognized throughout the state and broader banking industry.  He has been the right leader at the right time, organically doubling the size of our institution.  We’ll miss his presence, energy, and the unique qualities he brings to the job every day.  That said, we’re thrilled for him, his wife Diane, and their family, knowing they have many fulfilling years ahead to enjoy together.”

Leavitt adds, “I am deeply grateful to have had the honor of serving this outstanding organization, our valued customers, and the communities I love in my home state.  We still have lots of vital work ahead.  When the time comes to say farewell this fall, I will have a full heart and wonderful memories to cherish.  I am confident that our Board and whole team will continue to steer the company successfully into the next era with my successor.”

The Board of Trustees has established a CEO Search Committee, led by NSB Trustee and immediate past Board Chair Mary Alice McKenzie.  Kaplan Partners of Philadelphia has been retained to support the Committee in conducting a comprehensive search process, leading to appointment of NSB’s 15th president in the second half of 2025.

About Northfield Savings Bank

Northfield Savings Bank is the largest bank headquartered in Vermont, with 14 offices serving Central Vermont and Chittenden County. Founded in 1867, NSB has remained a mutual institution throughout its history, focused on strong community impact in the Green Mountain State. NSB offers a full range of products and services for commercial, government, mortgage, and personal banking customers. More information available at nsbvt.com.