Wheeler is named Beverly Cooperative Bank president

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February 1, 2012

By Paul Leighton Staff writer The Salem News Wed Feb 01, 2012, 05:00 AM EST

BEVERLY — Beverly Cooperative Bank has a new president, but the old president is not going anywhere right now.

The bank announced this month that Senior Vice President Michael Wheeler has been promoted to president. Longtime President Bill Howard will remain with the bank as CEO and chairman of the board of directors.

Wheeler, 40, has been with Beverly Cooperative Bank since 2000, working his way up from assistant vice president, vice president and senior vice president.

"I'm very honored to assume the position," Wheeler said. "I've adopted a franchise that really isn't broken. It's a very fiscally sound and community-driven organization. Bill has done an unbelievable job leading the organization, and I'll look forward to continuing that."

Wheeler, a native of Biddeford, Maine, lives in Beverly with his wife, Karen, and daughters Alexys, 9, and Olivia, 5.

Howard, who has been with the bank for 14 years, said Wheeler will eventually become CEO, while Howard will stay on as chairman.

"Mike's a great fit," Howard said. "He's helped define the culture here, so the culture's not going to change. It's still going to be a community bank that's invested in the community."

Wheeler earned a Bachelor of Science degree at the University of Southern Maine and a Master of Business Administration at Endicott College. He is on the board of directors of the North Shore United Way and Salem Chamber of Commerce.

Beverly Cooperative Bank is an independent mutual bank with assets of $300 million. It has three branches in Beverly and one in Salem.

Staff writer Paul Leighton can be reached at 978-338-2675 or by email at pleighton@salemnews.com.

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