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Sujata Yadav has been named president of River Run Bancorp, MHC, parent of Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust and will become chief executive office next July.
Yadav will work closely with Chief Executive Officer Lloyd L. Hamm Jr., River Run’s board of directors and executive leadership team as she begins her transition into the leadership of River Run and its three affiliated community banks.
River Run said its board of directors elected Yadav following a comprehensive national search. She will succeed Hamm as chief executive officer effective next July 1. At that time, Hamm will transition to executive chairman for a two-year period, working alongside Yadav, River Run’s boards and executive leadership team. Hamm will also remain co-chairman of the River Run Board with Scott Cote, chairman of Pentucket Bank.
“She brings tremendous leadership experience, strategic vision, energy and a genuine passion for mutual community banking. Her collaborative leadership style, commitment to people and belief in the importance of strong relationships make her an exceptional fit for River Run and the culture we have worked so hard to create,” said Hamm.
Yadav, of Lynnfield, joined Eastern Bank in 2017 as senior vice president and consumer lending director and was promoted in 2021 to executive vice president and chief marketing officer. Following Eastern’s merger with Cambridge Trust in July 2024, she was named the company’s first chief product officer. Prior to joining Eastern, she spent 14 years with Citibank N.A. in national and international leadership roles across the consumer bank.
“I am very much looking forward to getting to know our people, our communities and our three community banks, and to experiencing firsthand the commitment and relationships that make River Run so special. I am excited about the opportunities ahead and about working together to build on River Run’s strong foundation while continuing its commitment to our customers, our communities and one another,” she said.
Yadav earned a Bachelor of Arts degree from the University of Rajasthan in Jaipur, India, and an MBA from the Indian Institute of Management, Lucknow, India.