May 22, 2024

Bank's 2023 Annual Report Cover Page. The title is

Cambridge, Mass. – East Cambridge Savings Bank and 1854 Bancorp, the holding company for the bank, held their annual meetings in late March. At the meeting, Gilda M. Nogueira was elected Chair of the Board of Directors for East Cambridge Savings Bank. Nogueira, a Medford resident, began her career with the bank in 1977 and served as the bank’s president and chief executive officer from 2012 until her retirement in 2023.

In addition to Nogueira’s election as chair, retiring chair Joseph A. Amoroso was elected to the role of honorary trustee. Outgoing chair Amoroso has a long and distinguished involvement with the bank, having first been named a Corporator in 1990. He was named trustee in 1998 and has served in various board capacities for the bank and holding company. Amoroso has served as Chairman of the Board since 2021.

Also elected to the role of honorary trustee were Albert M. Pacheco and Richard A. Bentubo. Both served on the bank’s board of directors for many years, but due to age limitations in the bank’s bylaws, they retired from the board. 
During his remarks at the meeting, bank president and chief executive officer Timothy E. Bombard remarked that “2023 was a year of challenges and transitions, but also one of determination, creativity, and resiliency. We saw transitions in senior management and one of the most challenging interest rate environments in recent memory, but we did not stray from our core values of mutuality and community while still providing the highest level of service to our customers.” He went on to say, “As we enter our 170th year, we will draw upon our experience, expertise, and commitment to both our customers and community to persevere.”
To read the bank’s annual report, which was released at the meeting, please click here

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. 

Leo Gayne
Vice President, Public and Community Relations Officer
(617) 551-2353