Enterprise Bank Announces CEO Retirement and Successor Appointment

Core Points - John "Jack" P. Clancy Jr. is retiring after a distinguished 35-year career at Enterprise Bank, including over 17 years as CEO, and will serve as an executive advisor during the transition [4][5] - Steven R. Larochelle, previously Chief Banking Officer, has been appointed as the new CEO, bringing over 27 years of experience with the bank [2][4][3] - Under Clancy's leadership, Enterprise Bank expanded from 14 branches to 27 and increased total assets from $980 million in 2006 to$4.6 billion as of March 2024 [5] Company Overview - Enterprise Bancorp, Inc. operates primarily through Enterprise Bank and Trust Company, which has reported 138 consecutive profitable quarters [6] - The bank offers a variety of services including commercial, residential, and consumer loans, deposit products, cash management services, and wealth management [6] - Enterprise Bank has 27 full-service branches located in Massachusetts and New Hampshire, serving communities in Northern Middlesex, Northern Essex, and Northern Worcester counties in Massachusetts, as well as Southern Hillsborough and Southern Rockingham counties in New Hampshire [6]