Five Questions With: Thomas J. Lamb

THOMAS LAMB was appointed president, CEO and chairman of the board of trustees at Centreville Bank's annual meeting last week. / COURTESY CENTREVILLE BANK
THOMAS LAMB was appointed president, CEO and chairman of the board of trustees at Centreville Bank's annual meeting last week. / COURTESY CENTREVILLE BANK

Thomas J. Lamb, of East Greenwich, was elected president, CEO and chairman of the board of trustees of Centreville Bank this month.
Lamb succeeds Raymond Bolster who retired on May 1.
Prior to being named President, Lamb served as executive vice president and chief operating officer of the bank. His professional background includes stints with Fleet Financial Group and Old Stone Bank. He also ran his own consulting group for several years before joining Centreville Bank.
Lamb talked with Providence Business News about his plans for the new leadership role.

PBN: How would you describe your predecessor’s tenure?
LAMB:
Under Ray’s leadership, Centreville Bank prospered and became increasingly strong financially. Ray was also instrumental in creating the Centreville Savings Bank Charitable Foundation, which has allowed the bank to give back to the community on a broader scale. This is something we are very proud of.

PBN: What will you do differently?
LAMB:
For the last year, I have focused on the development of a long-range strategic plan that we believe will better position the bank for what lies ahead and help us increase market share in the areas we serve. In addition we have put together a very strong leadership team that will be instrumental in helping the bank achieve these goals. We are investing a great deal of time and effort to better understand our customers, our markets, and learn first-hand what we need to do to earn and keep their trust.

PBN: What are some key areas where you think the bank could grow and why?
LAMB:
We are fortunate to have a very loyal customer base and believe we can expand these relationships. We have a renewed focus on commercial lending and are building a team led by Hal Horvat who will lead our expansion in that business line. We see a lot of potential throughout the state and we will continue to explore new opportunities and markets. Our Retail Division, led by Nancy Ferrara, will continue to focus on improving the customer experience in all delivery channels throughout the organization.

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PBN: Please tell our readers a little bit about your leadership style and what employees and customers should expect.
LAMB:
I have had the good fortune over the years to be part of some strong, high-performing teams. We are in the process of building such a team with experienced bankers and professionals. They, along with our network of incorporators and a strong Board of Trustees, will ensure that the customer service and community support our customers have come to know will not only continue but grow. I grew up in the shadow of Centreville Bank and I, like many of our employees, still live in the community. I am committed to maintaining our proud history and to ensure that we will be a vibrant community bank in the future.

PBN: Tell us your thoughts on the banking landscape in Rhode Island. What’s changed, what are the challenges, what do you see ahead?
LAMB: Given the regulatory and economic environment over the past several years banking is more challenging than ever before. I have a great deal of respect for my colleagues at the other banks operating here in the state. Among those of us who are actually based in the state, the competition has never been stronger. That being said, we are very excited about the opportunities for Centreville Bank. Our financial strength places us in a unique position in Rhode Island and we plan to leverage this strength as we move forward.

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