PITTSFIELD, Mass. — After 15 years at the helm, Jay Anderson, chief executive officer of Pittsfield Cooperative Bank, is stepping down for health reasons.  

 

During his tenure as CEO, Anderson, 59, nearly doubled the bank's asset size to $400 million during a period of record profitability in multiple years.

 

"I have been privileged to lead the Pittsfield Cooperative Bank and support the economic growth of this community," Anderson said. "I have full confidence that the bank will continue to thrive in the years ahead."

 

Board Chairman John Martin thanked Anderson for his leadership and his expansion of the bank's management team and the bank’s reputation, particularly in commercial lending.

 

The board is in the process of hiring a new CEO and Martin said he expects to make an announcement in the near future about a successor.