An Open Letter from Joe Campanelli, Needham Bank's CEO

It is my great honor to succeed Mark Whalen as Needham Bank’s new Chief Executive Officer. Mark will continue serving the Bank as CEO Emeritus and as a member of our Board of Directors. I want to thank him for his distinguished banking career which began at Dedham Cooperative Bank before it merged with Needham Bank.

Being a Wellesley resident and a career banker, I have watched with great admiration as Needham Bank has become “the evolution of community banking”. Change is not easy and I know that I have big shoes to fill following Mark and Jack McGeorge before him as Needham Bank’s CEO.

What won’t change is Needham Bank’s mutuality. At the heart of our brand as we approach our 125th year is our commitment to being the leading mutual bank in the State. We embrace the fact that we are not publicly-traded and that instead of answering to Wall Street, we answer to the customers we are so privileged to serve.

Some may ask why I would leave the world of big banking for community banking. That’s an easy one for me to answer. I have many friends who have left big banks for smaller banks for a variety of reasons which always seem to come back to a desire to be closer to the customer and the community. Doing so is simply impractical at very large institutions, but it is at the very core of community banking and no bank is more committed to doing that, or does a better job at that, than Needham Bank.

That, in a nut shell, is why I am here. I look forward to working with the very talented team of employees at the Bank. And I look forward to meeting our customers as well as those of you who don’t yet bank with us. It is my responsibility to help lead the sort of community bank which appeals to everyone looking for a better banking option. We will continue to accomplish that goal by providing a very high level of service to our customers, by investing in our employees and our communities, and by offering the very best financial products and services in Massachusetts.

Needham Bank is your bank, which is why I’d like to hear from you. My email address is and my direct line at the Bank is 781-474-5548. Please accept my sincere best wishes for the New Year.