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Salem, Mass., April 25, 2017 – Salem Five announced today that Ed Lomasney has joined its team as Senior Vice President in commercial banking. In this role he will be responsible for developing and managing a commercial portfolio of small to mid-size businesses in our marketplace.
“We are excited to welcome Ed to our growing commercial team,” said Kevin Rourke, SVP and Commercial Banking Division Leader for Salem Five.“ His extensive banking and business development experience, as well as his unparalleled dedication to serving the local community, make him an ideal fit for Salem Five.” Ed will be based out of the bank’s Danvers location at 85 High Street.
A 16-year financial industry veteran, Lomasney was most recently a senior vice president in the business banking division at Eastern Bank in Peabody. While at Eastern Bank, he was recognized as a top sales performer and for his dedication to customers and the community. His additional banking and business development experience includes roles at MortgageAccess Corp., Countrywide Home Loans, Bank of America and HSBC Consumer Lending Division.
Lomasney earned a bachelor’s degree from Salem State College. He is an active member of his local community, where he volunteers with a number of organizations, including Peabody Youth Sports, Haven for Hunger, Northeast Arc, Relay for Life and Citizens for Adequate Housing. In 2004, he was named a Community Bank Hero by Banker & Tradesman. He lives in Peabody with his wife and three daughters.
Bancorp is the parent bank holding company of Salem Five (www.salemfive.com), a mutual institution founded in 1855. Salem Five aims to make money less complicated and thereby make customers’ lives simpler and easier by offering sophisticated retail and commercial banking products, personalized service and innovative technology. Salem Five is one of the largest Massachusetts-headquartered banks with $4.7 billion in assets and 34 retail branches in Essex, Middlesex, Norfolk and Suffolk counties and New Hampshire. Divisions include Salem Five Mortgage Company, which has financed more homes than any other Massachusetts bank; Salem Five Financial which offers financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Agency, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC and DIF. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.