Guilford, CT GSB (Guilford Savings Bank) has promoted Kyle Eagleson as president and CEO. This follows the planned succession from Timothy Geelan, who retired as CEO on April 1st.
Eagleson was elevated to president in January of 2024, and his tenure as CEO begins as GSB embarks on a transformative period in its history. This includes a rebrand to Ascend Bank, a merger with Eastern Connecticut Savings Bank, pending regulatory approval, and the opening of a new operations center in Wallingford – all as the historic community banking institution celebrates its 150th anniversary.
“Tim’s leadership has been nothing short of extraordinary,” said Eagleson. “His vision and dedication have positioned GSB as a pillar of strength and innovation in our community. I am honored to have worked with him for many years and am energized to build upon his legacy as we take ambitious steps to guide the bank into its next chapter.”
As GSB transitions to Ascend Bank, the organization remains committed to its core values. “This rebrand is about growth, and ensuring we serve all of our communities as best as we can – it’s not a change in who we are,” Eagleson said. “We are proud of the legacy of Guilford Savings Bank and excited to introduce Ascend Bank; we’ll carry forward that same spirit of community, trust, and service while creating opportunities for more people to experience the very best in community, business and commercial banking.”
The upcoming merger with Eastern Connecticut Savings Bank will create a combined institution with $1.4 billion in assets and 25,000 clients, enhancing the bank’s ability to provide forward-thinking banking services across the state.