Management & Directors

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Senior Management

Jeffrey D. Jones

President and Chief Executive Officer

Jeffrey D. Jones is President and Chief Executive Officer of Melrose Bank. Mr. Jones joined Melrose Cooperative Bank in 1987 and held positions of increasing responsibility prior to being named President and Chief Executive Officer in 2002. Mr. Jones is active in a number of civic and charitable organizations. He has served as a director of the Melrose Chamber of Commerce for 15 years. Mr. Jones is a member of the Melrose Rotary Club, a trustee of the Fitch Home in Melrose, a non-profit organization that provides housing for the elderly, a Corporator of Hallmark Health and a member of its Strategic Planning Committee. Mr. Jones has also served as a Selectman for the Town of Essex, including serving as Chairman of the Select Board.

Mr. Jones’s experience provides the board of directors with a perspective on the day to day operations of Melrose Cooperative Bank and assists the board of directors in assessing the trends and developments in the financial institutions industry on a local and national basis. Mr. Jones has extensive ties to the community that support our business generation.

Diane Indorato

Senior Vice President and Chief Financial Officer

Diane Indorato is our Senior Vice President and Chief Financial Officer, positions she has held since 2002. Ms. Indorato has been employed with Melrose Bank in positions of increased responsibility since 1980. Ms. Indorato’s responsibilities include the management and supervision of Melrose Bank’s finance department, in which capacity she directs preparation of budgets, reviews budget proposals, capital planning and ALCO.

James E. Oosterman

Senior Vice President, Lending and Marketing

James Oosterman is our Senior Vice President, Lending and Marketing. He joined Melrose Bank in 1998. Mr. Oosterman has over 30 years of experience in the financial services industry and his responsibilities include general oversight of our loan portfolio, including credit quality, loan yield and portfolio growth.

Board of Directors

Frank Giso III

Chairman of the Board, Attorney

Frank Giso III is a retired attorney and was formerly a partner at Choate, Hall & Stewart, a law firm headquartered in Boston, Massachusetts, where he specialized in real estate transactions, finance and development and had served as chairman of the firm’s Real Estate Department. Mr. Giso has almost 40 years of experience as a practicing attorney. Mr. Giso is also actively involved in our market area, having served as chairman of the Melrose Housing Authority, and currently serves as a director of the Melrose Affordable Housing Corporation.

Mr. Giso’s extensive corporate legal experience provides the board of directors with general business acumen.

F. Peter Waystack

Vice Chairman of the Board, Attorney

F. Peter Waystack is a practicing attorney and partner at Waystack & Kirby LLC, a law firm based in Melrose, Massachusetts which Mr. Waystack founded in 1994. Mr. Waystack has been a practicing attorney since 1974 and specializes in estate planning, real estate conveyances and personal income taxation.

Mr. Waystack’s extensive legal experience assists the board of directors in assessing legal and regulatory matters involving Melrose Bank.

Candy Brower

C.P.A., Director

Candy Brower is a principal of Johnson O’Connor Feron & Carucci LLP, a certified public accounting firm headquartered in Wakefield, Massachusetts. Ms. Brower has more than 30 years of public accounting experience.

Ms. Brower’s expertise and background with regard to accounting matters, internal controls, the application of generally accepted accounting principles and business finance provide the board of directors and the Audit Committee with valuable insight into accounting issues involving Melrose Bank.

Jeffrey D. Jones

Director, President - Banking

Elizabeth W. McNelis

Director

Elizabeth McNelis is the Executive Director at Artis Senior Living of Reading, a Memory Care Community in Reading, MA. In this role, Ms. McNelis oversees all facets of operations for this assisted living community including managing employees, census, resident life, budgets and resident, family and community relations.

Ms. McNelis’s position and experience as a leader in senior living administration, her knowledge of the region and her contacts with community leaders provides the board of directors with insight to the many growth efforts being made in Melrose Bank’s market area.

Alan F. Whitney

Director

Alan F. Whitney, retired, was the owner of Alan Whitney Construction Company, Inc., a general contracting company located in Reading, Massachusetts. He owned and operated a general contracting company for 30 years specializing in residential and commercial building and remodeling.

Mr. Whitney’s lengthy experience as owner and operator of a general contractor brings valuable business and leadership skills and financial acumen to the board of directors. Further, his longtime experience as a business owner in the Melrose community provides the board of directors with an important perspective on the development and delivery of product offerings to such business owners.

Stephen E. Anderson

Director

Stephen E. Anderson is retired. Mr. Anderson had a 37 year career in banking, serving in positions of increasing responsibility at financial institutions in the greater Boston area. His primary focus through his career was in commercial lending. Mr. Anderson also served as a Captain in the United States Air Force prior to his career in banking.

Mr. Anderson’s extensive banking experience, specifically in the area of commercial lending, and his knowledge of the bank’s market area provides the board with additional knowledge in the oversight of Melrose Bank’s lending operations.

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