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June 7, 2024

New Haven Bank CEO to retire; new leader announced

PHOTO | CONTRIBUTED FILE IMAGE Maureen Frank is the president and CEO of New Haven Bank.

One of the few women bank CEOs in Connecticut will step down from her post by the end of this year as she heads into retirement.

Maureen A. Frank has led New Haven Bank for the past 11 years, helping grow the community lender from $58 million in assets to $195 million. She relinquished her president title on June 10, and will step down as CEO later this year, the bank said.

New Haven Bank is one of the youngest lenders in Connecticut, founded in 2010 as Start Bank before it took on its current name in 2019. During her tenure, Frank led the bank to profitability and its name change, and opened a second branch location in West Haven in 2023.

Frank has been replaced as president by Judith Corprew, who will also take over the CEO role later this year. 

Corprew has over 40 years of experience in the financial industry with concentrations in credit, risk management, lending, compliance and corporate governance. Her most recent position was with Stamford-based Patriot Bank, where she served as chief risk and compliance officer and executive vice president. She left Patriot Bank, with $1.1 billion in assets, on May 3, regulatory filings show. 

Frank, who serves on the board of directors and will continue to do so upon her retirement, originally joined the bank in 2013 as vice president of retail and consumer banking. She was promoted to acting president and CEO in November 2013, and earned the permanent position in May 2014. 

Her 45-year banking career started with First Federal Savings and Loan (now Webster Bank), and was followed by executive vice president at Centerbank, and president and CEO of Apple Valley Bank.

“The journey has been rewarding, and I am grateful for the trust placed in me, appreciative of the support from the Board of Directors, and extremely proud of the bank’s growth and commitment to the communities we serve,” Frank said. “I have worked with dedicated caring employees who have contributed substantially to the success of this organization.”

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