Cambridge, Mass. – East Cambridge Savings Bank today announced that Timothy E. Bombard was elected Chief Executive Officer by the Board of Directors on Oct. 25, 2023. Bombard was named the bank’s President at the March 2023 annual meeting, beginning a leadership transition process from retiring President and CEO Gilda M. Nogueira to Bombard. As of Nov. 1, Bombard is the President and Chief Executive Officer of East Cambridge Savings Bank and will also serve as President of the Bank’s Charitable Foundation and 1854 Bancorp, the Bank’s mutual holding company.
Upon his election as CEO and the completion of this transition from Ms. Nogueira to Mr. Bombard, Bombard stated, “It is truly an honor to be the President and CEO of East Cambridge Savings Bank, a longstanding financial partner to generations of families and local businesses. I am incredibly humbled by the trust and confidence that the Board has placed in me, and I look forward to working with the Board, the senior management team, and the bank’s entire workforce to continue our outstanding legacy of exceptional customer service standards and responsible and steady growth.”
Nogueira, who worked at the bank since 1977 and served as President and CEO from 2012 to 2023, noted that “I’m so proud to leave knowing that the bank is in great hands with an outstanding leadership structure. Tim, our board, our leadership team, and our staff – it’s an incredible team. These are great bankers and wonderful and caring individuals who are truly committed to giving of themselves. I know Tim is the right person to lead our organization into the future.”
With over three decades of experience in the banking industry, Bombard joined East Cambridge Savings Bank in 1999 as vice president in the lending division and was promoted to chief lending officer in 2008. Bombard is actively involved with the local community and is a member of the Cambridge YMCA Board of Directors and serves on their finance committee. Additionally, he serves as a Board Member and Treasurer of Cambridge Neighborhood Apartment Housing Services, Inc. (CNAHS), a local nonprofit organization that builds, renovates, and preserves affordable housing. He holds a Bachelor of Science degree in economics and finance from New Hampshire College. Bombard resides in Hingham, Mass. with his wife Sue and their two children.
About East Cambridge Savings Bank:
East Cambridge Savings Bank is a full-service mutually held bank that is committed to be the preferred banking partner in the communities it serves. Established in 1854, the Bank strives to provide an exceptional customer experience and generous support for the community. Headquartered in Cambridge, the Bank has locations in Arlington, Belmont, Cambridge, Chelsea, Malden, Medford, Somerville, Waltham, and Woburn as well as an educational training facility at Cambridge Rindge and Latin School. The Bank is a member of the Federal Deposit Insurance Corporation (FDIC), the Depositors Insurance Fund (DIF), and is an Equal Housing Lender.
CONTACT:
Leo Gayne
Vice President, Public and Community Relations Officer
(617) 551-2353
lgayne@ecsb.com