The CEO of a bank that has steadily expanded its footprint in Connecticut — including securing naming rights to Hartford’s downtown arena — will step down next year.
Tom Senecal, who has led Holyoke, Mass.-based PeoplesBank since 2016, announced he will retire at the end of 2025 after more than three decades in the banking industry. During his tenure, PeoplesBank grew from $450 million in assets to nearly $7 billion in assets, opened multiple branches in Connecticut and Massachusetts, launched a digital bank and completed two mergers, with a third pending.
In Connecticut, the bank has opened branches in Hartford County, boosted its charitable contributions to local nonprofits and most recently put its name on the PeoplesBank Arena, which is undergoing a major renovation.
The bank’s board has named Todd Tallman as Senecal’s successor as CEO.
Tallman is currently the CEO of Spencer, Mass.-based Cornerstone Bank, which, earlier this year, merged its holding company with PeoplesBank’s holding company.
Cornerstone and PeoplesBank still operate independently.
Brian Canina will remain president of PeoplesBank and also become president of PeoplesBancorp MHC, the bank’s mutual holding company.
Daniel Zona will take over as president of Cornerstone Bank. Zona is currently president of Athol Savings Bank, which is in the process of merging with Cornerstone Bank.
Senecal will remain chairman of the boards of PeoplesBank and PeoplesBancorp beginning in 2026.
