Fills Vacancy After the Unexpected Passing of Mark Gingras, Longtime Board Chairman

David W. Glidden, President and CEO of Liberty Bank, and the Board of Directors, jointly announced today Doug Anderson was unanimously elected Chairman of the Board at their March meeting.

The election of Anderson comes after the unexpected passing of longtime Chairman Mark Gingras on March 7, 2024. Gingras served as Liberty’s Board Chairman since 2007 and Board member since 2001.

Anderson’s role as a Liberty Bank Corporator and Board member began in April 2018. During this time he has served on the Credit Risk, Audit, Compensation, and Governance Committees – and most recently Chair of the Credit Risk Committee.

Anderson brings decades of diverse leadership experience in banking, finance, management and operations to the role of Chairman. His extensive background includes senior executive roles as President of the former Savings Bank of Manchester (SBM) until 2004 and Chairman, President and CEO for the former Open Solutions (OSI). He spent 14 years at Unisys, an international technology company, and served on the Board of Directors for the former New Alliance Bancshares, Inc.

Beyond Liberty’s Boardroom, Anderson has been a dedicated and generous community partner. This includes his philanthropic support and Board service for many organizations and causes such as the Connecticut Science Center, SBM Charitable Foundation, Manchester Community College Foundation and Connecticut Foodshare. He also served as Chairman of the Liberty Bank Foundation.

Anderson, a graduate of the University of Connecticut, currently resides in South Windsor, Connecticut.

“Since Doug joined the Board six years ago, he has earned high admiration and a stellar reputation as a Director and a ‘Be Community Kind’ brand ambassador in the communities we serve,” said David W. Glidden, President & CEO. “Not only does he possess extensive business acumen but he also brings invaluable banking acumen and a wealth of banking knowledge as a former President and Board Chair for other community banks. He’s done a terrific job and we know he will serve us well in setting the course for the Bank as he takes on this leadership role.”

On the unexpected passing of Chairman Gingras, Glidden added, “Mark was a wonderful husband, dad and doting grandfather. He also cherished his second family – his Liberty teammates. Whether he was in the Boardroom, visiting a branch or in the community, Mark always conveyed kindness, loyalty and leadership and demonstrated a steadfast dedication to ensuring Liberty remains a mutual bank. His leadership and friendship cannot be replaced but his legacy will live on in the hearts and minds of our Board members and teammates at Liberty Bank.”

About Liberty Bank

Established in 1825, Liberty Bank is the oldest and largest independent mutual bank in the country. With $7.5 billion in assets, Liberty has 56 banking offices across Connecticut and two in Massachusetts. As a full-service financial institution, Liberty offers consumer and commercial banking, cash management, home mortgages, business loans, insurance and investment services. Named ‘Top Workplace’ by the Hartford Courant every year since 2012 and designated a 2021, 2022 and 2023 Best-In-State Bank in Connecticut by Forbes Magazine.