Guilford Savings Bank officially has a new CEO.
Kyle J. Eagleson is now the community lender’s president and chief executive officer. He took over GSB’s top executive position on April 1, following the retirement of former CEO Timothy P. Geelan.
Eagleson was elevated to president in January 2024. He takes on the added responsibilities as GSB is nearing completion of its merger with Eastern Connecticut Savings Bank, a deal that was announced last December.
The Department of Banking approved the merger on May 7, and announced the deal is expected to close on June 1.
Eagleson will lead the combined organization with $1.4 billion in assets and that will change its name to Ascend Bank.
“This rebrand is about growth, and ensuring we serve all of our communities as best as we can — it’s not a change in who we are,” Eagleson said. “We are proud of the legacy of Guilford Savings Bank and excited to introduce Ascend Bank; we’ll carry forward that same spirit of community, trust, and service while creating opportunities for more people to experience the very best in community, business and commercial banking.”
