Ed Caron, Executive Vice President and Senior Commercial Lending Officer for Merrimack County Savings Bank (the Merrimack) is retiring on January 5, 2018, after 21 years with the organization. James Gallagher, Senior Vice President, Senior Commercial Loan Officer, has been selected to take over Caron’s responsibilities.
When Caron joined the Bank as Vice President and Commercial Loan Officer, he brought with him more than 25 years of commercial banking experience. In 2002, he was promoted to Senior Vice President, and assumed responsibility for managing the Bank’s commercial lending strategy and departmental operations. Caron was promoted to his current role of Executive Vice President in 2011.
“Ed’s passion for our local business community coupled with his wealth of knowledge in banking has made him an instrumental member of our senior management team, and a successful leader of the Merrimack’s commercial lending business,” said Philip Emma, President of the Merrimack. “Ed has developed and mentored an excellent team. Thanks to his compassionate nature and level of expertise, he has established solid, long-term customer and community relationships for the Bank. We have been very fortunate to work with him for over two decades.”
“I’ve always believed that the financial strength of our Bank depends on the financial health of the community,” said Caron. “We’ve made it a point to support all businesses that are big, small and everything in-between. I am extremely proud of our team, as they’ve built strong, lasting relationships with our customers.” Throughout his tenure, Caron has championed and advocated community involvement, spearheading much of the Merrimack’s expansion, presence and reputation in Concord, Nashua and surrounding business communities. The Bank’s commercial department has successfully expanded business services and lending expertise through its talent and product development, becoming a true partner across many industries.
Caron currently serves on the Board of Directors of Phenix Mutual Fire Insurance Company. He has also served with many civic and service organizations over the years, including the Nashua Rotary and Nashua Boys and Girls Club. Additionally, he was Chairman of the New Hampshire Business Finance Authority for many years. He received his BS in Business Administration from the University of New Hampshire.
James Gallagher has been selected to lead the Merrimack’s Commercial Lending department upon Caron’s retirement.
“James’ promotion is very well-deserved,” said President Emma. “He is an active, forward-thinking leader who is consistently lauded by colleagues and team-members alike for his vision and insight. James is known to dig deep into research, often becoming an expert on issues that were previously unknown to him. He learns all the nuances and possible factors that may impact our customers, coming up with tailored solutions that fit the needs of each person, business and nonprofit he helps. His drive and eagerness to learn has led to his success.”
Gallagher brings 16 years of experience to his new role. He began his banking career at the Merrimack in 2002 as a Credit Analyst. He left the Merrimack in 2005, and went on to have ever-increasing leadership positions at Peoples’ United Bank, Massachusetts Commercial Real Estate Finance and Citizens Financial Group Northern New England Commercial Real Estate before returning to the Merrimack in 2015.
Gallagher currently serves on the Board of Directors for both Marguerite’s Place, Inc. and MP Housing, Inc., two related Nashua-based transitional housing nonprofits for women and children in crisis. Additionally, he is on the Board of Directors for CATCH Neighborhood Housing, a Concord-based housing association that creates opportunities for affordable, quality housing for people otherwise not being served. Gallagher received his B.S. in Business Management with a minor in Economics from Plymouth State University and an M.S. in Finance and Accounting from Southern New Hampshire University.