BankFive, a mutual bank with locations in Massachusetts and Rhode Island, held its 170th Annual Meeting this week, reviewing a year where its financial assets grew in spite of a challenging market and prioritizing a continued investment in the bank’s physical assets, technology and the communities it serves.
“We are proud to continue to provide affordable and equitable financial solutions to communities across Massachusetts and Rhode Island,” said Anne P. Tangen, President and CEO of BankFive. “As we reflect on 170 years of service, our mission continues to have a powerful impact and we look forward to seeing this impact grow. BankFive continues to invest in top-tier financial services to meet each of our customers' unique needs and goals.”
Bank assets grew by $14 million in 2025, closing the year at $1.9 billion in total assets and $5.1 million in net income. Net income increased by $1.8 million from 2024 driven by margin expansion, strong mortgage banking income and expense control. BankFive remains well‑capitalized with $160.7 million in regulatory capital.
“By pairing strategic cost controls with disciplined asset growth, BankFive has thrived even as benchmark interest rates declined,” said Linda Simmons, BankFive’s Executive Vice President, Chief Financial Officer and Treasurer. “These efforts have allowed BankFive to improve profitability and financial stability.”
Board members reflected on the 170th anniversary of BankFive, celebrated in April 2025, when the bank unveiled its renovated corporate headquarters in Fall River and its Five SENSE Financing Learning program. Five SENSE aims to empower customers at every stage of their financial journey, offering educational resources, workshops, and customized banking products tailored to different needs.
New Hire
BankFive is proud to announce that Christopher Curry was recently hired as Senior Vice President and Chief Information Officer. Curry brings over 20 years of experience in enterprise-scale digital transformations, having previously worked at Countrywide Financial, Bank of America, AthenaHealth, Boston Private, Silicon Valley Bank, and First Citizens Bank.
Curry has a reputation for successfully aligning multi-million-dollar budgets with strategic objectives to accelerate and deliver business goals. His expertise and experience aligns with BankFive’s goals to achieve continued growth and serve as a leading community bank for Massachusetts and Rhode Island.
Curry graduated from the University of Massachusetts Lowell with a B.A. in history and psychology and a certificate in security management and homeland security.
Promotions
● Charles DeSimone, Executive Vice President & Commercial Lender
● Christina Johnk, Executive Vice President & Chief Human Resources Officer
● Sharon MacInnes, First Vice President & Compliance, CRA, & BSA Officer
● Evan Mazetis, First Vice President & Information Security Officer
● Priscilla Beulieu, First Vice President Senior Human Resources Generalist
Community Reinvestment & Financial Education
BankFive was recognized by the Boston Business Journal with a Top Charitable Giver Award. The bank contributed $670,000 to community organizations and employees volunteered 2,480 hours. With the rollout of the Five SENSE Financial Literacy initiative, employees also delivered more than 25 financial workshops and dedicated 168 volunteer hours to financial education alone.
The BankFive Presidents’ Scholarship was awarded to a Fall River student attending the University of Connecticut. The $1.2 million scholarship fund was established in 2023 to honor the memory of past presidents & CEOs of BankFive. The fund provides a four-year scholarship to one or more graduating seniors from Bristol County, MA and Bristol and Newport Counties, RI, while attending an accredited college or university. BankFive has continued to help under-represented individuals successfully start and grow their own businesses through its active partnership with EforAll.
Headquarters Renovation
BankFive continues to focus on the growth and improvement of their banks and communities. In alignment with this goal, in April 2025, the bank unveiled its new headquarters in Fall River. The renovated space features a sleek modern exterior, a bright and welcoming lobby, and enhanced workspaces. In total, BankFive has invested $25MM in renovations of the bank’s Fall River headquarters and several other branches over the past five years. The updated Fall River headquarters is expected to serve as a catalyst for further development on Main Street.
New Technology
BankFive prioritizes investing in new technologies to provide the best services to its customers and staff. In 2025, the bank implemented several new technologies, including:
● FedNow Implementation: BankFive successfully rolled out this 24/7 instant payment infrastructure, making real-time transfers more prevalent and accessible to customers.
● FedWire System Update: To ensure compliance and operational efficiency, the bank’s wire system was upgraded to the latest technology.
● Internal IT Upgrades: BankFive staff benefited from investments in Windows 11, TEAMS, and Copilot. The bank saved thousands by negotiating key contracts with some of its largest vendors.
● Utilizing AI Translation: BankFive’s marketing teams leveraged AI to create operational efficiencies including the creation of scripts and translations for unique radio spots, as well as blog content
Board Appointments
● Anne Tangen, President and CEO, was elected to the American Bankers Association (ABA) Board of Directors. This is a significant national role in which Tangen helps shape policy for the U.S. banking industry.
● Catherine Dillon, Executive Vice President and Chief Operating Officer, was appointed as Chair of the One SouthCoast Chamber of Commerce. She has served on this board for nearly a decade and now leads its efforts in regional economic growth.
● Andrea Rodrigues, First Vice President and Director of Marketing Programs and Community Relations, was appointed to the Board of Directors for United Way of Greater New Bedford, continuing the bank's focus on community service and investment.
Individual Awards & Recognitions
● Anne Tangen, President and CEO, received the Sandra J. Pattie Award (announced Jan 2026 for 2025 achievements) by the New England Women in Banking & Mortgage for her leadership and outstanding contributions to the banking industry.
● Catherine Dillon, Executive Vice President and Chief Operating Officer, received the Achievement Award from the Massachusetts Bankers Association at the 2025 Women and Allies in Banking Conference.
● Christina Johnk, Senior Vice President and Chief Human Resources Office, was honored twice in 2025. She was named Champion for Women by the Massachusetts Bankers Association and received the 2025 Women & Allies Award from the Rhode Island Bankers Association.
Institutional Awards & Recognitions
Attracting and retaining talent is critical to BankFive’s success. They strive to create an environment that welcomes all, and the engagement is evident. BankFive was honored as a “Best Place To Work” by The Boston Business Journal and Providence Business News and a “Top 100 Women-Led Business” by The Boston Globe.
The bank also was awarded an APEX Award by the One SouthCoast Chamber for its impactful community work.
“We are proud to continue to provide affordable and equitable financial solutions to communities across Massachusetts and Rhode Island,” said Anne P. Tangen, President and CEO of BankFive. “As we reflect on 170 years of service, our mission continues to have a powerful impact and we look forward to seeing this impact grow. BankFive continues to invest in top-tier financial services to meet each of our customers' unique needs and goals.”
Bank assets grew by $14 million in 2025, closing the year at $1.9 billion in total assets and $5.1 million in net income. Net income increased by $1.8 million from 2024 driven by margin expansion, strong mortgage banking income and expense control. BankFive remains well‑capitalized with $160.7 million in regulatory capital.
“By pairing strategic cost controls with disciplined asset growth, BankFive has thrived even as benchmark interest rates declined,” said Linda Simmons, BankFive’s Executive Vice President, Chief Financial Officer and Treasurer. “These efforts have allowed BankFive to improve profitability and financial stability.”
Board members reflected on the 170th anniversary of BankFive, celebrated in April 2025, when the bank unveiled its renovated corporate headquarters in Fall River and its Five SENSE Financing Learning program. Five SENSE aims to empower customers at every stage of their financial journey, offering educational resources, workshops, and customized banking products tailored to different needs.
New Hire
BankFive is proud to announce that Christopher Curry was recently hired as Senior Vice President and Chief Information Officer. Curry brings over 20 years of experience in enterprise-scale digital transformations, having previously worked at Countrywide Financial, Bank of America, AthenaHealth, Boston Private, Silicon Valley Bank, and First Citizens Bank.
Curry has a reputation for successfully aligning multi-million-dollar budgets with strategic objectives to accelerate and deliver business goals. His expertise and experience aligns with BankFive’s goals to achieve continued growth and serve as a leading community bank for Massachusetts and Rhode Island.
Curry graduated from the University of Massachusetts Lowell with a B.A. in history and psychology and a certificate in security management and homeland security.
Promotions
● Charles DeSimone, Executive Vice President & Commercial Lender
● Christina Johnk, Executive Vice President & Chief Human Resources Officer
● Sharon MacInnes, First Vice President & Compliance, CRA, & BSA Officer
● Evan Mazetis, First Vice President & Information Security Officer
● Priscilla Beulieu, First Vice President Senior Human Resources Generalist
Community Reinvestment & Financial Education
BankFive was recognized by the Boston Business Journal with a Top Charitable Giver Award. The bank contributed $670,000 to community organizations and employees volunteered 2,480 hours. With the rollout of the Five SENSE Financial Literacy initiative, employees also delivered more than 25 financial workshops and dedicated 168 volunteer hours to financial education alone.
The BankFive Presidents’ Scholarship was awarded to a Fall River student attending the University of Connecticut. The $1.2 million scholarship fund was established in 2023 to honor the memory of past presidents & CEOs of BankFive. The fund provides a four-year scholarship to one or more graduating seniors from Bristol County, MA and Bristol and Newport Counties, RI, while attending an accredited college or university. BankFive has continued to help under-represented individuals successfully start and grow their own businesses through its active partnership with EforAll.
Headquarters Renovation
BankFive continues to focus on the growth and improvement of their banks and communities. In alignment with this goal, in April 2025, the bank unveiled its new headquarters in Fall River. The renovated space features a sleek modern exterior, a bright and welcoming lobby, and enhanced workspaces. In total, BankFive has invested $25MM in renovations of the bank’s Fall River headquarters and several other branches over the past five years. The updated Fall River headquarters is expected to serve as a catalyst for further development on Main Street.
New Technology
BankFive prioritizes investing in new technologies to provide the best services to its customers and staff. In 2025, the bank implemented several new technologies, including:
● FedNow Implementation: BankFive successfully rolled out this 24/7 instant payment infrastructure, making real-time transfers more prevalent and accessible to customers.
● FedWire System Update: To ensure compliance and operational efficiency, the bank’s wire system was upgraded to the latest technology.
● Internal IT Upgrades: BankFive staff benefited from investments in Windows 11, TEAMS, and Copilot. The bank saved thousands by negotiating key contracts with some of its largest vendors.
● Utilizing AI Translation: BankFive’s marketing teams leveraged AI to create operational efficiencies including the creation of scripts and translations for unique radio spots, as well as blog content
Board Appointments
● Anne Tangen, President and CEO, was elected to the American Bankers Association (ABA) Board of Directors. This is a significant national role in which Tangen helps shape policy for the U.S. banking industry.
● Catherine Dillon, Executive Vice President and Chief Operating Officer, was appointed as Chair of the One SouthCoast Chamber of Commerce. She has served on this board for nearly a decade and now leads its efforts in regional economic growth.
● Andrea Rodrigues, First Vice President and Director of Marketing Programs and Community Relations, was appointed to the Board of Directors for United Way of Greater New Bedford, continuing the bank's focus on community service and investment.
Individual Awards & Recognitions
● Anne Tangen, President and CEO, received the Sandra J. Pattie Award (announced Jan 2026 for 2025 achievements) by the New England Women in Banking & Mortgage for her leadership and outstanding contributions to the banking industry.
● Catherine Dillon, Executive Vice President and Chief Operating Officer, received the Achievement Award from the Massachusetts Bankers Association at the 2025 Women and Allies in Banking Conference.
● Christina Johnk, Senior Vice President and Chief Human Resources Office, was honored twice in 2025. She was named Champion for Women by the Massachusetts Bankers Association and received the 2025 Women & Allies Award from the Rhode Island Bankers Association.
Institutional Awards & Recognitions
Attracting and retaining talent is critical to BankFive’s success. They strive to create an environment that welcomes all, and the engagement is evident. BankFive was honored as a “Best Place To Work” by The Boston Business Journal and Providence Business News and a “Top 100 Women-Led Business” by The Boston Globe.
The bank also was awarded an APEX Award by the One SouthCoast Chamber for its impactful community work.