Mt. Washington Bank Elects Frederick G. Pfannenstiehl
as Chairman of the Board of Directors

(South Boston, MA) President and CEO Edward J. Merritt of Mt. Washington Bank recently announced the election of Frederick G. Pfannenstiehl as Chairman of the Board of Directors. Prior to this election, Pfannenstiehl served as Vice Chairman of Mt. Washington Bank’s Board for nine years and has served on the board since 1970. Pfannenstiehl supersedes Thomas S. Gunning who retired from the Board on December 31, 2008 after serving as Chairman for the past 10 years.

“We are honored to have Mr. Pfannenstiehl serve as Chairman of the Board,” says President and CEO Edward Merritt. “His prior experience and business acumen will help us to continue fulfilling our mission of becoming Boston’s Community Bank.”

During his tenure as Vice Chairman, Pfannenstiehl has proven to be an essential part of the banks vision and growth. Over the past nine years, the bank has tripled its asset size and has expanded its branch network from two to six branches. Pfannenstiehl also oversaw the search to hire current President and CEO, Edward Merritt.

Pfannenstiehl is the Chairman/Owner of Educor, Inc., a post-secondary college management company. Prior to Educor, he was President and Chairman of the Board at Bay State College.

He is an active participant in several community organizations and serves as Chairman of the Board of Thompson Island Outward Bound Education Center and The Paraclete Foundation in South Boston. Pfannenstiehl is also on the Board of The Massachusetts Historical Society and is an Honorary Lifetime Overseer at The Rivers School.

Pfannenstiehl holds bachelor’s degree in Economics from Tufts University and resides in Wayland.

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Mt. Washington Bank has been serving its communities for over 115 years. In addition to offering a full range of products and services for consumers and businesses, Mt. Washington Bank also prides itself on providing excellent service to their customers. Mt. Washington Bank currently has six banking offices (three in South Boston, two in Dorchester and one in Jamaica Plain) and a loan office in South Boston.