NEWBURYPORT — The Institution for Savings recently promoted three employees, according to CEO and President Michael Jones.
David Doucette was promoted to senior vice president of commercial lending; Jeffrey Salerno was promoted to assistant vice president of residential lending; and Shannon Maloney was promoted to assistant vice president and Storey Avenue Newburyport manager.
Doucette has spent nearly his entire professional career with the Institution for Savings. As a high school student, he worked in the bank’s educational school bank at Ipswich High School and continued as a part-time teller while in college.
Following his college graduation, Doucette joined the bank’s residential loan department as a loan processor. In 2009, he transferred to commercial lending as a credit analyst and became a commercial loan officer in 2015.
In 2017, Doucette was promoted to assistant vice president and to vice president in 2019. He was promoted to senior vice president earlier this year. He is based in the bank’s commercial lending office at 312 Haverhill St. in Rowley.
With 20 years of mortgage lending experience, Salerno joined the bank in 2018 as mortgage officer and was promoted to assistant vice president earlier this year. He attended New England School of Financial Studies and the Massachusetts Bankers Association School of Mortgage Banking. Salerno is based in the bank’s Amesbury office at 150 Main St.
Maloney joined the Institution for Savings as a teller in 2015. She was promoted to head teller in 2017 and Rowley office assistant manager in 2022. In April, Maloney returned to the Storey Avenue office as assistant manager and was then promoted to manager in January.
“We believe strongly in giving our employees the opportunities and education to advance in their careers here at the bank and these promotions are great examples of that,” Jones said. “I congratulate Dave, Jeff and Shannon on these well-deserved promotions and look forward to seeing all that they are going to do in these new positions.”
Dating to 1820, the Institution for Savings is the largest mutual savings bank in Massachusetts. On Cape Ann, it operates branches at 4 Parker St. in Gloucester, and 37 King St. in Rockport.
