River Run Bancorp, MHC (River Run) is pleased to announce the appointment of Michael Bonsey as Executive Vice President, Chief Risk Officer. His responsibilities include enhancing the organization’s commercial credit structure to better meet both regulatory and customer expectations. He will also assume full leadership over the credit and enterprise risk functions for River Run and its affiliated banks. He will report to Jamie Thompson, Senior Executive Vice President, Chief Credit Officer.
Michael Bonsey's appointment is viewed as a pivotal move for the future of River Run. “In today’s rapidly evolving banking landscape, the Chief Risk Officer role is not just strategic—it's essential for ensuring the long-term success of our two banks, Newburyport Bank and Pentucket Bank, and those that join the River Run family in the future,” said Lloyd Hamm, CEO of River Run. “Michael's expertise will be instrumental in driving our mission to provide robust and responsive risk management across all our institutions.”
Mr. Bonsey has almost forty years of banking experience, principally in senior credit positions. He holds an MBA from the University of Southern Maine, as well as a BS in Business Administration from the University of Maine at Augusta. He is also active in the community, having served in various volunteer roles with organizations such as Rotary Club, United Way, and the Androscoggin County Chamber of Commerce. Mr. Bonsey resides with his family in Reading, MA.
“We are fortunate to add Michael to the River Run organization,” said EVP, Chief Credit Officer Jamie Thompson. “He has a superb background navigating an increasingly complex banking environment. I’m confident that his experience will enhance the organization’s resilience against financial challenges and improve our overall governance.”
About River Run
River Run Bancorp, MHC, the joint mutual holding company for both Newburyport Bank and Pentucket Bank. It was established in 2023 to support and sustain community banking. For more information, please visit www.riverrunmhc.com.