NEWBURYPORT – Lloyd L. Hamm, Jr., President and CEO of River Run Bancorp, MHC, together with the Boards of River Run and Newburyport Bank, are pleased to announce the appointment of James J. McCarthy as President and Chief Operating Officer of Newburyport Bank, effective June 28, 2025.
With more than four decades of executive leadership in community banking and financial services, James (Jim) brings to the role a proven track record of growth, operational excellence, and a deep understanding of community-based banking. Since 2021, he has served on the Board for Newburyport Bank, actively contributing as a member of both the Executive Loan Committee and the Commercial Credit Committee, while also serving as a Corporator for River Run.
As President, Jim will lead the day-to-day operations of Newburyport Bank, with a strong focus on executing the Bank’s long-term strategic goals. He will work closely with leadership at affiliated institution Pentucket Bank to ensure continued alignment with the broader objectives of River Run Bancorp, MHC—fostering a unified vision for innovation, service, and sustained community investment across the River Run family of banks.
“Jim is a seasoned and respected leader who understands both the opportunities and the complexities of modern banking,” said Lloyd Hamm. “At a time when our industry is navigating rising interest rates, regulatory pressures, and rapidly shifting customer expectations, his experience and strategic mindset will be instrumental in driving forward our mission and delivering value to our communities.”
Prior to this appointment, McCarthy served as Chairman, President, and CEO of First Ipswich Bank, where he led the organization through a period of growth and transformation, contributing to the broader success of parent company Brookline Bancorp. His leadership included participation on key governance and strategy committees including ALCO, Risk Oversight, and Product Development.
Earlier in his career, McCarthy served as Executive Vice President and Chief Operating Officer at Danversbank, overseeing finance, retail operations, risk, compliance, and facilities. He also served as President and CEO of Revere Federal Savings Bank, guiding the institution through a successful period of asset growth, expansion, and strategic change.
McCarthy began his professional journey at Ernst and Young as a Certified Public Account and Senior Auditor. He holds a Bachelor of Science in Accounting from Northeastern University and has completed executive education programs at the MIT Sloan School of Management and the University of Virginia’s Darden School of Business.
McCarthy is highly regarded by colleagues and former employees alike as a trusted advisor and mentor—a role he looks forward to resuming as President of Newburyport Bank. “I am truly honored to take on this leadership role at Newburyport Bank during such a pivotal time in our industry,” said McCarthy. “While banking is facing significant headwinds—from economic volatility to evolving technologies and customer needs—I am confident that through strong teamwork, local focus, and collaboration across River Run, we are well-positioned to continue our tradition of trust and innovation.”
In addition to his banking credentials, McCarthy has long been active in community service, including his role on the Advisory Board of the Jordan Boys and Girls Club. He is frequently seen at Seacoast-area community events, supporting local nonprofit organizations. He is a longtime resident of Newburyport, where he lives with his family. ♦
Newburyport Bank, founded in 1854 and headquartered in Newburyport, MA, is a trusted financial partner committed to helping individuals, families, and businesses Journey Well. With over $1.6 billion in assets and eleven community banking locations across Massachusetts and New Hampshire, we provide personalized banking solutions rooted in service, stability, and care. Together with Pentucket Bank, we are supported by River Run Bancorp, MHC, ensuring strength and shared resources for our communities. Learn more at www.newburyportbank.com, or call 844-639-3483. Member FDIC. Member DIF. Equal Housing Lender. NMLS #413282.
