BOSTON, Mass. — River Run Bancorp, MHC has named banking executive Sujata Yadav as President, beginning a planned leadership transition that will see her become CEO of the Massachusetts-based mutual banking organization in July 2027.
Yadav was selected by River Run’s Board of Directors following a national search. She will work alongside Chief Executive Officer Lloyd L. Hamm Jr., the Board and the Executive Leadership Team before succeeding Hamm as CEO on July 1, 2027.
Hamm will then move into the role of Executive Chairman for two years, helping support River Run’s strategic initiatives, potential mutual bank merger opportunities and broader growth plans. He will also remain Co-Chairman of the River Run Board with Scott Cote, Chairman of Pentucket Bank.
“We are thrilled to welcome Sujata to River Run,” Hamm said. “She brings tremendous leadership experience, strategic vision, energy and a genuine passion for mutual community banking. Her collaborative leadership style, commitment to people and belief in the importance of strong relationships make her an exceptional fit for River Run and the culture we have worked so hard to create.”
Yadav brings extensive experience in consumer lending, product development, marketing, analytics, innovation and strategic growth.
She joined Eastern Bank in 2017 as Senior Vice President and Consumer Lending Director, where she helped introduce the bank’s first fully integrated online platforms for unsecured lending and home equity. She later expanded her responsibilities to include Product Marketing and Analytics.
In 2021, Yadav was named Executive Vice President and Chief Marketing Officer. In that role, she helped modernize Eastern’s brand and marketing strategy, developed a formal business-to-business marketing function and supported marketing and communications integration during two major mergers.
After Eastern Bank completed its merger with Cambridge Trust in July 2024, Yadav became the company’s first Chief Product Officer. She led a centralized product organization focused on strategy and development while continuing to oversee product marketing and analytics aimed at supporting innovation and revenue growth.
Before joining Eastern Bank, Yadav spent 14 years at Citibank N.A., holding leadership positions in the United States and internationally across consumer banking. Her responsibilities included omnichannel marketing, product development and portfolio management.
“Sujata brings an extraordinary combination of strategic vision, innovation, leadership and execution,” Hamm said. “Throughout our extensive selection process, she distinguished herself not only through the breadth and depth of her executive accomplishments, but also through her passion for mutual community banking, her strategic mindset, her collaborative leadership style and her vision for River Run’s future.”
Yadav said River Run’s community banking structure and emphasis on local relationships were major attractions.
“I am thrilled to join River Run and to become part of an organization with such deep roots in the communities we serve,” Yadav said. “I am very much looking forward to getting to know our people, our communities and our three community banks, and to experiencing firsthand the commitment and relationships that make River Run so special.”
She said she plans to build on River Run’s existing foundation while maintaining the organization’s focus on customers, employees and the communities served by its banks.
Yadav earned a bachelor’s degree from the University of Rajasthan in Jaipur, India, and an MBA from the Indian Institute of Management, Lucknow.
She serves on the Board of Trustees of Winchester Hospital and the Board of Directors of Junior Achievement of Greater Boston. She previously served on the boards of United Way of Massachusetts Bay and Merrimack Valley and The Ad Club.
Yadav lives in Lynnfield with her husband and two sons.
As part of the leadership transition, she is expected to visit River Run offices and branches across the organization in the coming weeks to meet employees and learn more about the customers and communities served by its affiliated banks.
Founded in 2023, River Run Bancorp has approximately $3.6 billion in collective assets and oversees Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust.
Through River Run Bancorp and River Run Services LLC, the organization provides shared resources, strategic leadership and enterprise capabilities while allowing its affiliated banks to maintain their own brands, local leadership and community-focused operations.
River Run says its structure is intended to provide the scale and resources of a larger banking organization while preserving the local decision-making and customer relationships associated with mutual community banking.
