Kaiser Steps Down, Donovan Steps In As VP/Senior Trust Officer

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Kaiser Steps Down, Donovan Steps In as Vice President/Senior Trust Officer at Piscataqua Savings Bank

May 2, 2014 – Portsmouth, NH – Piscataqua Savings Bank has announced that long-time VP/Senior Trust Officer, Dick Kaiser is retiring at the end of June. Kaiser began his career at Piscataqua Savings Bank on April 13, 1995 and was one of two co-founders of the Trust & Investment Department at the Bank. He became head of the Department in November of 2002 and has served in that capacity ever since.

Kaiser recalls his first day at the Bank, “We had just received our Charter to create a Trust & Investment Management Department and were renovating the second floor to house the new Department. My first office here was a small conference room on the first floor over near the safe deposit area. It’s very rewarding to see how much we’ve grown and today we assist hundreds of families with their trust, estate planning and investment management needs. I’m proud to have played a role and I’m confident that our ongoing commitment to be and remain local and to serve our clients from the heart of downtown Portsmouth will continue to serve our customers very well. I’m leaving with an outstanding team in place. It has been an honor and a privilege to work so closely with client families and the exceptional staff here at Piscataqua Savings Bank over the past nineteen years.”

Kaiser’s successor, Kathy Donovan, CTFA, VP/Trust Officer will lead the Trust Department team as of the end of June as VP/Senior Trust Officer. Donovan is highly qualified and has been providing personalized services in all aspects of trusts, estate settlement and probate for over twelve years at Piscataqua Savings Bank, and has over thirty years of experience in her field. Donovan will be leading a team of nine seasoned trust and investment management professionals and staff with more than seven decades of combined knowledge and trust experience.

Donovan said, “As Dick looks toward his well-deserved retirement, he can proudly say that the Trust Department now manages assets in excess of $230 million, all the while maintaining a client-focused culture. I think he can be proud of the team that will now carry forward this same tradition and I’m honored to help carry the torch for our little bank that gives back in so many ways.”

Rick Wallis, President/CEO of Piscataqua Savings Bank, said, “We wish Dick all the best in his retirement and are very pleased to have Kathy Donovan step in and carry on our tradition of personalized, individualized attention as our Trust & Investment Department continues to grow. Kathy has been very involved with the strategic vision and administrative oversight functions for the Department over the past few years so this is a natural evolution.”

When asked how he plans to spend his retirement, Dick Kaiser said he plans to spend a lot more time with family and friends, helping his wife to set up beekeeping and working in their organic vegetable and flower gardens. The couple also has plans to travel to Europe, South Africa and Turkey.

The only mutual bank based in Portsmouth today, Piscataqua Savings is dedicated to serving local individuals and families and has been a cornerstone of the Portsmouth community since 1877.

Rick Wallis, President/CEO