Ensign to retire after 42 years at Lake Sunapee Bank

Stephen W. Ensign, longtime CEO, chairman and most recently executive chairman of Newport-based Lake Sunapee Bank, has announced he will retire from the bank at the end of April.

Ensign, who is in his 42nd year with the bank, will continue to serve as chairman of the board.

Ensign served as president and chief operating officer of Lake Sunapee from 1987 to 1992 and as chief executive officer from 1992 to 2012, when he transitioned to the role of executive chairman. He was succeeded as CEO by Stephen R. Theroux, who previously served as the bank’s chief financial officer and chief operating officer. 

Ensign began his career with the bank in 1971, when it was Newport Savings Bank. During his tenure, the institution grew from $13 million in assets with one full-time office to what is now a $1.3 billion company with 29 branches throughout New Hampshire and Vermont, as well as the three offices of the McCrillis & Eldredge Insurance, Co., a wholly owned subsidiary of the bank.

He also guided it through the creation of New Hampshire Thrift Bancshares, a publicly owned holding company that operates 22 locations in New Hampshire in Grafton, Hillsborough, Merrimack and Sullivan counties as well as eight locations in Vermont.

“Steve Ensign has been an iconic figure in the history of our bank,” said Theroux. “During the past 42 years, he has been involved with every major decision which has shaped our institution and has seen us grow into a diverse $1.3 billion financial services company. We are fortunate to retain Steve’s guidance and presence as he continues to Chair our Board of Directors and provide his wisdom and counsel gained from his years of experience.”