Mt. Washington Bank Appoints Veteran Boston Banking Executive to Board of Directors

(South Boston, MA) President and CEO Edward J. Merritt of Mt. Washington Bank recently announced the appointment of Gail Snowden to the bank’s Board of Directors. Snowden, a well-known executive in the Boston banking industry, as well as highly-respected member of the Greater Boston community, brings over three decades of success and professional experience to the Mt. Washington Bank Board.

“We are honored and thrilled to have Gail join our Board,” says Merritt. “The breadth, depth and scope of her financial services experience, particularly in the area of community banking, coupled with her long-standing commitment to the community, will serve Mt. Washington Bank well as we focus our efforts to become Boston’s Community Bank. “

Snowden is the President of Gail Snowden Consulting Services. Prior to establishing her own company, she served as Treasurer and CFO of Finance and Administration for the Boston Foundation. In this position, which she held from 2004-2007, Snowden’s responsibilities included overseeing the investment function for a $731 million endowment, along with managing funds administration, gifts and grants.

During a very successful banking career at Bank of Boston, Fleet Bank, and Bank of America, Snowden held several key executive positions. Under her leadership at Bank Boston, Snowden developed First Community Bank, a banking model for delivering financial services to low to moderate income urban communities.

Snowden’s commitment to civic and community organizations are as expansive and extensive as her banking career. She currently serves on the Board of Trustees of Simmons College and has received numerous honorary degrees from Colleges and Universities in Massachusetts, including the University of Massachusetts Boston.

Snowden also served as Chair of the Freedom House, Inc., which was founded by her parents Otto and Muriel Snowden “to promote the long-term, sustainable economic and social development of Boston’s communities of color.”

“Joining the Mt. Washington Bank Board of Directors is a wonderful opportunity for me to be involved with a community banking institution whose mission is so closely aligned with what I believe all great community business organizations should be about…delivering exemplary service to inner city neighborhoods, establishing good community partnerships that allow its citizenry to better themselves and bring overall value to the local economy,” says Snowden.

Snowden received her bachelor’s degree from Harvard/Radcliffe College and earned an MBA from Simmons College. She resides in Jamaica Plain.

###

About Mt. Washington Bank
Founded in South Boston in 1893, Mt. Washington Bank is one of Boston’s fastest growing business banks. An independent, mutually-owned full service financial institution, the Bank has over $500 million in total assets and five branches; three in South Boston, and two in Dorchester. In December 2007, the bank announced its first merger with Roxbury Highland Bank in Jamaica Plain which is expected to be complete by the Spring of 2008.