Bristol County Savings Bank Announces Its President & CEO Succession Plan
TAUNTON, MA, July 31, 2024 — At the Annual Meeting of the Bank’s holding company, Beacon Bancorp, in May the Bank elected Patrick J. Murray, Jr. Chairman of the Board of Directors and announced John Silva as his successor as President. This transition is part of the Bank’s overall succession plan that was adopted by its Board of Directors over a year ago.
Murray stepped down as President in May, and will remain in his role as Chief Executive Officer until the end of 2024. He will also serve as Chairman of the Board of Directors for the next nine years. Murray, a former CPA with Wolf & Company PC, has enjoyed a 38-year career in the financial services industry. He began his career at the Bank in 1986 as Comptroller, was named Treasurer in 1993, Chief Operating Officer in 2004 and served as President & CEO since 2012.
Murray’s philosophy about banking has always been “it’s simply people helping people” which is evident in his management style and his dedication to the Bank’s employees, customers and communities.
“Pat has played an invaluable role in the Bank’s success over the past 38 years and his steady and thoughtful leadership has positioned the Bank as one of the strongest, well-managed financial institutions in the country,” stated Joseph Nauman, the Bank’s Lead Independent Director.
During his tenure, Murray has been a well-respected leader in the industry, serving as the Chairman of the Massachusetts Bankers Association, Director of the Depositor’s Insurance Fund. He is also a distinguished community leader having served in a leadership capacity on the boards of numerous community organizations over the years. Currently he serves the industry as a member of the Board of Directors of SBERA and COCC and serves the community as a member of the Board of Directors of Care New England, the Zeiterion Theatre, the Bristol Community College Foundation, the Taunton Business Improvement District and the United Way of Massachusetts Bay & Merrimack Valley. He is also a member of the New Bedford Economic Development Commission’s Regeneration Committee, as well as a Corporator of the Attleboro and Hockomock Area YMCAs. A graduate of Bentley College in Waltham, Massachusetts with a bachelor’s degree in accountancy, Murray also graduated from the National School of Banking of America’s Community Bankers in Fairfield, Connecticut. He currently resides in Bridgewater, Massachusetts with his wife.
As part of its succession plan, the Bank also announced the election of John Silva as President & Chief Banking Officer. Silva will assume the role of both President and Chief Executive Officer upon Murray’s retirement in December.
“John has done a tremendous job managing the Bank’s Commercial Lending department during a sustained period of growth and his leadership and expertise will translate well in his expanded role as President and Chief Banking Officer. I have worked with John for many years and I have the utmost confidence in his ability to successfully lead the Bank forward and carry on the Bank’s strong commitment to its community,” said Murray.
Silva joined the Bank in 2016 and brought with him a wealth of knowledge and experience having previously served in a number of capacities at Santander and its predecessor banks for more than 25 years, including Senior Vice President, New England Regional Director in its Business Banking department. Silva is well known and respected in the banking industry, particularly in the Rhode Island business community.
Prior to being named President and Chief Banking Officer, Silva held the positions of Executive Vice President and Chief Lending Officer, Executive Vice President/Commercial Lending and Senior Vice President/Commercial Lending at the Bank.
“I am committed to continuing the high level of performance the Bank has achieved over the past 178 years and to remaining an organization where our customers and our community can count on us,” stated Silva.
Silva is active in the community as a Board Member for the YMCA of Pawtucket where he also serves on the Executive and Finance Committee. In addition, he is a Board Member for the Rhode Island Bankers Association and the South Eastern Economic Development Corporation (SEED), as well as a trustee of RIPEC. He earned his MBA at the University of Rhode Island and his bachelor’s degree in business administration from Roger Williams University in Bristol, Rhode Island. Silva resides in Bristol with his wife and children.