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Brennan now Chairman of The Village Bank; Joseph De Vito is new President & CEO

Kenneth C. Brennan, president and chief executive officer of The Village Bank since 1991, stepped down from that role at the Bank’s Annual Meeting held on May 14. Following a vote by the Bank’s directors, Brennan was elected to serve as chairman of the board.

The board also elected Joseph A. De Vito, executive vice president and chief financial officer, as the Bank’s new president and chief executive officer. De Vito was also elected to the board of directors.

Both Brennan and Joseph De Vito will be located at the Bank’s home office in Auburndale.

Current Board Chairman Alfonso De Vito, who has held that position since the 2003 merger of Auburndale Co-operative Bank and Newton South Co-operative Bank to form The Village Bank, will remain active on the board.

Kenneth Brennan
A Newton native, Brennan joined the former Auburndale Co-operative Bank in 1983 as vice president and treasurer, and was named president and chief executive officer in 1991 and continued in those roles following the 2003 merger.

Brennan’s entire professional life has been spent in community banking, a field he entered at a time of considerable changes in the local banking scene.

Following his graduation from Boston College, he joined Middlesex Family Co-operative Bank in Waltham. That institution later merged with Newton Co-operative Bank to become Hometown Co-operative Bank. Hometown’s subsequent merger with Middlesex South Co-operative Bank, Pioneer Co-operative Bank and Malden Co-operative Bank formed the Pioneer Financial Group, with Brennan as manager of Pioneer’s main office in Newtonville before joining Auburndale
Co-operative Bank two years later.

At that time, Auburndale Co-operative Bank had $23 million in assets, 15 employees and two banking offices: Auburndale and Wayland.

Today, The Village Bank has $782 million in assets and 120 employees. It operates full-service branches in Auburndale, Newtonville, Nonantum, Newton Highlands, Waban, Wayland, and West Newton and the Village Loan Center in Auburndale.

Throughout his 40-year banking career, Brennan has also been an active member of numerous civic, community and industry organizations. He is a past chairman of the Newton-Needham Chamber of Commerce, the Co-operative Banks Employees Retirement Association, and Woodland Golf Club. He has served as a director of the Co-operative Central Bank and chairman of the Massachusetts Bankers Association, and on the board of overseers of Newton-Wellesley Hospital. He is also a former vice chairman of the Newton Child Care Commission.

In addition, Brennan is a Rotary Foundation Paul Harris Fellow, and a past recipient of the Knox Trail Council Boy Scouts of America Distinguished Citizens Award.

Joseph De Vito
Joseph De Vito served as executive vice president and treasurer of Newton South Co-operative Bank before the merger that formed The Village Bank. In that capacity he was responsible for all financial and operational activities of the Bank, which he had joined in 1998.

Earlier in his 25-year career in finance, he served in positions including controller at Waters Corporation, senior financial analyst with Boston Scientific Corporation, financial analyst with Millipore corporation and budget and program analyst with Raytheon Company.

A lifelong resident of Newton, De Vito earned an MBA magna cum laude from the Babson Graduate School of Business and a bachelor’s degree in finance from Boston College.

He is the immediate past chairman of the Newton-Needham Chamber of Commerce and former chair and current advisory member of the Newton Youth Commission. He has also been involved with the Newton Community Service Center, where he was a mentor for the Teen Reach program, and as a member of Newton Kiwanis and the Principal’s Advisory Board at the Walnut Park Montessori School.

Alfonso De Vito
Board member Alfonso De Vito is a native of Italy. He came to the United States in 1964, settling in Newton’s Nonantum neighborhood.

He began his banking career as a branch officer with the former Newton National Bank, which later became Shawmut Community Bank, N.A. He was assigned to Shawmut’s Nonantum office, where he remained until joining Newton South Co-operative Bank as assistant vice president in 1974. He was promoted to executive vice president in 1977 and named president and chief executive officer in 1983. Following the Bank’s 2003 merger, he became chairman of the board of the new Village Bank.

A graduate of the Salesian Institute in Soverato, Italy, De Vito also studied law at the University of Rome.

Active in the community, De Vito has served as a trustee of Aquinas Junior College and is a past director of the John M. Barry Boys & Girls Club. He served on the Capital Campaigns for Our Lady Help of Christians and the West Suburban YMCA, and was an Easter Seals team captain. He served on The Salvation Army and West Suburban Elder Services committees, and the City of Newton Surplus Buildings Committee.

He is also a member of the 100 Club of Massachusetts and a former member of the Exchange Club of Needham.