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The Board of Directors of Hampden Bancorp, Inc. (the “Company”) (NASDAQ:HBNK), which is the holding company for Hampden Bank (the “Bank”) has unanimously elected Glenn S. Welch, President & Chief Operating Officer of the Company and the Bank effective January 1, 2012. In addition, effective January 1, 2012, Mr. Welch has been appointed as a Director of the Company and the Bank. Welch will succeed Thomas R. Burton as president who, after serving 17 years as President & CEO, will remain on as the Vice Chairman and CEO of the Company and the Bank.
“After conducting an extensive search that identified several superbly qualified candidates we have decided that Glenn S. Welch is our choice to lead Hampden,” said Stuart F. Young, Jr., Chairman of the Board. “It was extremely important that we find a new president who could build on the strong foundation already in place at Hampden – for which we are grateful for the leadership our current President Tom Burton has provided over the years,” Young added.
In announcing Welch’s appointment, Burton commented, “As a purpose driven organization it is vital that we select a leader who not only understands the inner workings of the bank and the industry, but one who has a constant focus on our customers, our shareholders, and on the communities we serve. Glenn was the single candidate who demonstrated he could deliver on all counts. I am delighted with this decision.”
After learning of his appointment Mr. Welch commented, “I am proud to serve as the new president and I pledge to continue the bank’s 159 year tradition of serving the families, businesses and communities of western Massachusetts. I would like to thank our Board of Directors, our Senior Management Team and my fellow Hampden Bank associates for their confidence in me and for their support. I would especially like to thank Tom Burton for his leadership, guidance and vision.”