Lisa Carbone Joins Salem Five as Senior VP, Director of Cash Management

September 2019

Salem, Mass., September 3, 2019 –Salem Five announced today that Lisa Carbone has joined its team as senior vice president and director of cash management in the commercial services division. Ms. Carbone will oversee the bank's cash management functions while also supporting commercial lending services. "Salem Five has a longstanding reputation as an institution customers can rely on and a strong presence serving businesses in our communities. That's important." said Carbone. "I look forward to being part of Salem Five's continued growth and community involvement as I lead cash management."

Ms. Carbone comes to Salem Five after spending more than 30 years at Eastern Bank, where she started her career. During her time there, Ms. Carbone rose through leadership and most recently served as senior vice president and director of corporate and institutional services. In that position, Ms. Carbone was responsible for directing Five of Eastern Bank's business units: Treasury Services, Government Banking, Financial Institution, International Banking and Private Banking.

"Lisa's extensive experience in partnering with businesses in cash management will make her an important asset to our team, but most importantly to our clients" said Salem Five President & CEO Ping Yin Chai. "We expect her impact to be swift and longstanding."

Ms. Carbone received her education from Babson College and the University of Virginia. Her career accolades include being a four-time Pinnacle award recipient, one of Boston Business Journal's '40 under 40' and serving as a board member to several nonprofits north of Boston. She lives in Swampscott, MA.

Contact:
Madeline Lenahan
Phone (617) 337-9501


Salem Five 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 $5 billion in assets and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties and southern New Hampshire. Divisions include Salem Five Mortgage Company, which has financed more homes than any other Massachusetts bank; Salem Five Investment Services 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.

PRESS CONTACT


James Nelson
(978) 720-5370
James.Nelson@Salemfive.com