River Run Bancorp today announced the promotion of Karl Denu to Senior Executive Vice President and Chief Financial Officer, a role to which he brings more than two decades of financial services experience.
Denu will be based at River Run’s Harbor Place office and will oversee the organization’s finance division, including accounting operations, financial reporting, investment portfolio management, and strategic financial planning.
“Karl is a highly respected financial leader whose experience in financial reporting, balance sheet management, and regulatory compliance will be instrumental as we continue to grow,” said Lloyd Hamm, President and CEO of River Run Bancorp. “His leadership and expertise will further strengthen our financial operations and support our long-term strategic objectives.”
In his role, Denu will direct all financial reporting activities including management, GAAP (Generally Accepted Accounting Principles), and regulatory reporting while overseeing asset/liability management, internal financial controls, and the bank’s funding and investment strategies. He will also lead the bank’s annual budgeting process and provide financial insights to executive leadership and the Board of Directors.
“River Run has established a reputation for thoughtful financial management and strong community commitment,” said Denu. “I’m committed to providing clear financial insight, maintaining strong controls, and supporting the long-term financial health of River Run and its affiliated banks."
Denu previously held leadership roles at Pentucket Bank, Centrix Bank, and Bank of New Orleans. He earned a Bachelor of Science in Accounting from the University of Wisconsin–La Crosse and resides in Derry, New Hampshire, with his spouse, Suzanne, and their two children, Lucy and Leo.
About River Run
River Run Bancorp, MHC is redefining the future of community banking by preserving the mutual banking model while empowering its affiliated banks to maintain their independent brands and deep local commitments. Established in 2023, and with collective assets of $3.6 Billion, River Run provides strategic support and shared resources to Newburyport Bank, Pentucket Bank, and Rollstone Bank & Trust, ensuring continued service excellence to their customers and communities, paired with strength, stability, and a personal touch. Alongside River Run Services, LLC, we are dedicated to sustaining community banking for generations to come.