Emma to take over as president of Merrimack County Savings Bank

Paul Rizzi announces Jan. 1 retirement

Phil Emma will be taking over as president of Concord-based Merrimack County Savings Bank next January, succeeding Paul C. Rizzi Jr., who announced his retirement as president and CEO on Tuesday.

Rizzi will also retire as co-president and CEO of New Hampshire Mutual Bancorp, the holding company for MCSB as well as Meredith Village Savings Bank and MillRiver Wealth Management. Sam Laverack, president and CEO of MVSB and co-president and CEO of NH Mutual Bancorp, will take over as the sole chief executive of the holding company.

Rizzi, who will remain active as a member of the board of trustees of the holding company and MCSB, is a 46-year veteran of the banking industry. He joined the bank in 1996, initially serving a as executive vice president and chief operating officer before becoming CEO.

He was key in the formation of NH Mutual Bancorp, a mutual holding company formed in 2013 with MVSB. It was the first relationship of its kind in New Hampshire. Today, its assets total nearly $1.5 billion.

Meanwhile, Emma, currently executive vice president and chief operating officer for NH Mutual Bancorp and president of MillRiver Wealth, will continue his role as president of MillRiver.

In addition, Richard E. Wyman, currently executive vice president and chief financial officer, has been promoted to president of MVSB, and Jason Hicks, current senior vice president, has been promoted to CFO. Cindy Hemeon-Plessner, current Senior Vice President/Marketing Officer of MVSB has been promoted to senior vice president/marketing officer for NH Mutual Bancorp.