Canton, MA Bank of Canton's board of directors has unanimously approved the promotions of three executive officers: Michael Lindberg to president- and CEO-elect; Christopher Lake to executive vice president/CFO/COO; and Nancy Curry to senior vice president/senior lending officer. The new roles became effective April 1, 2025.
"I am extremely confident that these promotions put Bank of Canton's future into very capable hands," said Stephen Costello, president and CEO. "Our commitment to our customers, our employees, our success, and our mutual status will remain unchanged under their leadership."
Under the bank's transition plan, Lindberg will succeed Costello as president and CEO in July 2025. Costello, who joined Bank of Canton in 1992 as senior vice president/senior lender and has served as president and CEO since 2008, will retire after a 44-year career in banking. He will join the bank's board of directors following his retirement.
"On behalf of the board of directors, it is with much appreciation that I want to thank Mr. Costello for his 33 years of dedicated service to Bank of Canton," said Steven Rotella, chairman of the board. "He has steered the organization through favorable and unfavorable economic times with a steady, measured hand. Under his leadership, Bank of Canton has remained a model of financial strength and stability, consistently ranking among the top-performing mutual banks in the state.
"Mr. Lindberg is more than qualified to continue and build upon that success," said Rotella. "He has a desire and demand for excellence, and inherits a strong executive team, including Mr. Lake and Ms. Curry, with decades of combined banking experience. The board is confident Mr. Lindberg and his team will guide Bank of Canton into the future as a leading community-based, customer-focused mutual bank."
Lindberg joined Bank of Canton in 2015 as senior vice president/senior lending officer after successfully launching and managing lending centers in Boston for other regional banks. He was appointed to executive vice president at Bank of Canton in 2021, assuming leadership responsibility for the bank's retail banking and business development functions in addition to its commercial lending function. He possesses 33 years of commercial lending and portfolio management experience, including senior roles at billion- and multibillion-dollar financial institutions.
Lake's promotion to executive vice president/CFO/COO comes in his fifth year with Bank of Canton. He began his tenure in 2020 as senior vice president/chief risk officer and was promoted to senior vice president/chief financial officer in 2021. He started his career in banking with the U.S Treasury, Office of Thrift Supervision, where he was a senior bank examiner. Since then, he has held senior leadership roles overseeing the risk and financial management functions of several Boston-area banks. Lake's newly added responsibilities at Bank of Canton include the overall performance of its retail and commercial banking operations.
Curry, who recently joined the bank in January 2025, was elevated to the role of senior vice president/senior lending officer previously held by Lindberg. At her prior organization, she served as executive vice president/senior commercial lender and was responsible for the performance of a $650 million loan portfolio. At Bank of Canton, she will continue to oversee the production, servicing and operations of the bank's commercial lending function.
Lake and Curry will report directly to Lindberg following the presidential transition.
