Mascoma Bank is pleased to announce that Ryan Bishop has been hired as Senior Vice President Managing Director, Mascoma Community Development (MCD). MCD is a wholly owned subsidiary of Mascoma Bank and a registered community development entity (CDE).
“I am very pleased to welcome Ryan to MCD and Mascoma Bank. His background and passion for community development will help MCD continue to fund projects that create high-quality jobs, support local businesses, and make a positive environmental impact in rural and minor-urban areas,” said Clay Adams, Mascoma Bank President and CEO.
Bishop will lead the community lending team in originating and managing projects funded through various forms of tax credit financing, including New Markets Tax Credits, Historic Tax Credits, and Low-Income Housing Tax Credits. He brings more than 20 years’ commercial banking and real estate experience to the role, including responsibilities in credit administration, commercial property sales and leasing, risk, lending, and asset quality and portfolio management.
“As a mutual bank and a Certified B Corp, the alignment in values was a driver in what drew me to Mascoma Bank. Beyond traditional banking, working for Mascoma Community Development is a true purpose-driven role. I am excited to join the incredible MCD team and contribute to the mission of community development throughout our service area,” shared Bishop.
Within his community and the financial industry, Bishop currently serves on the board of the Housing Partnership in Portsmouth, New Hampshire, and is an American Banking Association Stonier Graduate School of Banking Capstone Advisor. He has previously volunteered as Treasurer with Portsmouth Rotary Club and Maine Commercial Association of Realtors and was on the Commercial Credit Committee for Massachusetts Bankers Association and the Board of Directors for Leadership Seacoast.
Bishop earned an MBA from the University of Southern Maine and an undergraduate degree in finance from the University of Maine. He is also a graduate of the Stonier Graduate School of Banking, which includes a Leadership Certificate from the Wharton School at the University of Pennsylvania. He is an avid runner, cyclist, and musician. Bishop and his family currently reside in southern Maine.
“We are very happy to have Ryan joining Mascoma Bank and leading MCD. His significant commercial credit experience and management skills will be an asset to the MCD team. Ryan’s background is well-suited to help continue the important mission that Dick Jennings started with MCD,” said Ken Howe, Chief Commercial Banking Officer at Mascoma Bank. “Dick and the MCD team have demonstrated great success in utilizing their tax credit expertise to fund impactful projects designed to help revitalize local communities.”
Dick Jennings, who helped create a full-service community development lending group for Mascoma Bank, has transitioned to retirement after 26 years with the organization. Since MCD was established in 2013, the team has deployed $245 million in NMTC allocation into 21 projects and two small business loan pools to reinvigorate local economies. Since MCD’s 2019 award, it has reinvested $683,750 in grants to support CDFI partners local to each project for sustained community transformation in small business lending, education, and childcare.