He Has Plans to Retire, but No Plans to Scale Back His Involvement
When we talked with Steve Lowell back in January, he related just how familiar he became with the commute from Cape Cod to Upton in the middle of the state, where he lived, earlier in his career.
That’s because, while he was working for a bank on the Cape, he also became heavily involved in the community there — as part of his work, but mostly because giving back is his MO. He recalled that he was on the Cape so much, many people thought he lived there.
When we reconnected several days ago, Lowell was again talking about this commute, but from a different perspective.
Indeed, only days after he was introduced as a member of the Difference Makers class of 2020 in February, Lowell announced he would be retiring as president and CEO of Monson Savings Bank, effective early next year, and stepping into a role new for this institution — chairman of the board. He and his wife, Anne, are in the process of relocating to the Cape, but he now keeps a small apartment in Brookfield and is there three or four nights a week, because he’s not only neck-deep in the transition of leadership at the bank (Dan Moriarty, the long-time CFO at the bank, has been named his successor), he’s still active in this region. Make that very active.
And he intends to remain involved with a number of organizations in this region, which means he’ll doing that commuting thing again.
“I’ll be around,” he said with conviction, he said, noting that’s not certain how long he will continue those living arrangements in Brookfield. “One way or another, I’ll be around.”
And while his work and that of his team at MSB has been somewhat different because of the COVID-19 pandemic, such as handling PPP loan applications, the basic formula hasn’t changed, he said, meaning Monson continues to fill the many roles of a community bank — and continues to search for new growth opportunities in a heavily banked region.
“In spite of COVID, we’ve moving forward, and we’re looking to the future,” he told BusinessWest, noting that the institution recently opened a new branch in East Longmeadow. “We’re trying to build an organization that is resilient enough to withstand not only this but anything else that might happen.”
While working to build this organization, Lowell is transitioning into his new role as chairman, one that will translate into a good deal of mentoring and also helping to guide the bank through a period that will likely be much more difficult than the one it just went through.
“I think 2021 is going to be an extremely challenging year, so I’m happy to stay involved and lend whatever expertise I can to them to make sure we keep things going in a really positive way,” he said. “I’m excited about that; I’m honored that they thought that this would be helpful, and I’m looking forward to it; I think it’s going to be a lot of fun.”
Meanwhile, as noted earlier, he will continue a career-long pattern of being heavily involved in the community, work that has involved nonprofits and institutions ranging from the United Way of Pioneer Valley to Link to Libraries; Baystate Health’s Eastern Region (Wing Memorial and Mary Lane hospitals) to the Western Mass. Economic Development Council (EDC).
“They’ve asked me to stay on for another year as chairman of the board of the Baystate Health Eastern Region,” he said. “And I just got asked by Rick Sullivan [president and CEO of the EDC] to continue on as treasurer — he said, ‘even though you’re going to be down on the Cape, can you stay on as treasurer?’ And I said, ‘as long as you’ll have me.’”
That request, and his answer in the affirmative, both speak to why Lowell is a member of this Difference Makers class of 2020. He’s almost always said ‘yes’ when asked to serve, and, more importantly, he usually didn’t wait to be asked.
He noted that, as he was arriving in this region in the late spring of 2011, the region — and Main Street in Monson — were hit, and hit hard, by a tornado. And as he’s retiring — at least from his role as president and CEO — the world, and Main Street in Monson, are being hit, and hit hard, by a pandemic.
“People might be happy to see me go,” he joked.
That’s certainly not the case. Even more to the point, he won’t be going anywhere soon, except for that commute he knows all too well.