MONTGOMERY, N.Y. (July 6, 2011) – Walden Savings Bank Board of Directors has appointed Chief Operating Officer Catherine Terwilliger interim president and chief executive officer, effective immediately. Jeffrey D. Crist was also named chairman of the board.
Terwilliger joined Walden Savings Bank as chief financial officer in 2004, and brings more than 30 years of finance and management experience to her new role. She was promoted to chief operating officer in October 2009, helping to increase the branch network and expand loan and deposit product services. She has also served on the Loan Committee and ALCO Committee.
“Catherine has been a cornerstone of our senior executive team and shown great leadership as we’ve adjusted to the sudden passing of David Cocks,” said Mr. Crist. “She worked side-by-side with David and her expertise in the finance and banking industry has directly contributed to Walden Savings Bank’s growth during her tenure. We are confident in her ability to serve as president and CEO until the search for a permanent replacement is complete.”
“I am proud to accept the board’s nomination to lead Walden Savings Bank as interim president and CEO,” said Ms. Terwilliger. “I am confident that the Bank will continue to thrive and grow by making sound financial decisions and helping our neighbors realize their dreams, grow their businesses and make a difference in our community.”
Terwilliger began her finance career as a junior auditor with The Bank of New York in 1980, and moved on to The First National Bank of Highland in 1986 as assistant vice president. She later became vice president of East New York Savings Bank in 1992 and held the same title at MSB Bank beginning in 1994. She joined Putnam County Savings Bank in 1998, where she held the position of vice president and controller.
Terwilliger holds a B.S. in Business Administration with a Concentration in Accounting from The King’s College in Briarcliff Manor, N.Y. and a Masters in Business Administration from Marist College in Poughkeepsie, N.Y.
Jeffrey D. Crist joined the Walden Savings Bank Board of Directors in 1994. As chairman of the board he will serve as liaison with senior management.
Crist owns and operates a 600-acre apple orchard Crist Bros. Orchards, Inc. in Walden, N.Y. with his wife Joy Crist. He also serves as chairman of the Town of Montgomery Planning Board, and has served as chairman of the U.S. Apple Association and the New York Apple Association. He is a member of the Ulster County Farm Bureau and a past member of the USDA Fruit & Vegetable Advisory Committee.
About Walden Savings Bank
Walden Savings Bank, established in 1872, is a federal chartered mutual savings bank headquartered in Montgomery, New York. With a total of eleven full-service branches serving Orange and Ulster Counties, the bank’s progressive style of community banking provides products that cater to both the individual and the growing mid-size business. To learn more about the Bank and its products and services, visit their website at www.waldensavingsbank.com
