Martha’s Vineyard Bank has announced the election of Robert (Bob) Mone as a bank corporator.
Martha’s Vineyard Savings Bank, with assets in excess of a half billion dollars, net earnings approaching four million dollars and a new, experienced community banker firmly at the helm seems to be on a solid course.
The bank clearly stumbled last year, but the extent, nature and impact of whatever improprieties occurred are still frustratingly unclear.
The former head of the Martha’s Vineyard Savings Bank who left last year under circumstances that were never fully explained, has been permanently barred from banking by the Federal Deposit Insurance Corporation.
An “order of prohibition from further participation” was issued against Christopher Wells by the FDIC.
The order was issued in late February and publicly released by the FDIC last week. Mr. Wells signed a consent agreement with the FDIC in which he does not admit the claims against him.
The Martha’s Vineyard Savings Bank Charitable Fund awarded $7,132 in grants to four community groups and nonprofits, it announced this week.
The Martha’s Vineyard Center for Living, Martha’s Vineyard Chamber Music Society, Martha’s Vineyard Youth Leadership Initiative and Women Empowered to Make Healthy Choices, Inc. will each receive grants this fall.
A South Shore bank executive has been named president and chief executive officer of the Martha’s Vineyard Savings Bank, trustees announced on Thursday.
Paul Falvey, 48, is a resident of Hingham and currently president and chief executive officer of the Holbrook Cooperative Bank. His 25-year career in banking began at the Bank of New England and includes experience in restructuring and working closely with bank regulators, a press release issued by the bank said.
The Gazette has been pretty fearless in exposing dredging errors, environmental threats and the like on the Vineyard, but I wonder if you would consider also covering the lawsuit against Pie in the Sky Bakery in Woods Hole that the Martha’s Vineyard Saving Bank is carrying out?
The Martha’s Vineyard Savings Bank Charitable Fund, a donor-advised fund with the Permanent Endowment for Martha’s Vineyard, has awarded seven grants totaling $13,800 in support of local nonprofits.
Grants went to the Island Food Pantry and fuel assistance for Islanders through the Oak Bluffs Council on Aging as well initiatives of the Adult and Community Education Program of Martha’s Vineyard, the Aquinnah Cultural Center, the Martha’s Vineyard Film Society, the Martha’s Vineyard Museum and the Yard.
