Scott Cote Elected to Depositors Insurance Fund Board of Directors
Haverhill, MA – Scott D. Cote, CEO/Chairman of the Board of Pentucket Bank has been elected to serve a six year term on the Board of the Depositors Insurance Fund (DIF).
The Depositors Insurance Fund is a private, industry-sponsored insurance company that insures all bank deposits above Federal Deposit Insurance Corporation (FDIC) limits at a number of Massachusetts state-chartered banks. Pentucket Bank has been a member of DIF since its inception in 1932. DIF is the only private, Bank-sponsored insurance company remaining in the United States and is unique to specific member banks in Massachusetts.
A spot on the DIF Board opened up in 2019 and Cote was elected to a six year term. “It is an honor and a privilege to have been elected by my peers to serve on this prestigious governing Board of the DIF,” Cote stated. “I whole-heartedly believe in the mission of the DIF. I am passionate and committed to using my Board position to ensure the Fund continues to thrive on behalf of its member Banks and most importantly the protections it provides for our customers’ deposits.” Cote is one of twelve Board members representing all regions of the Commonwealth of Massachusetts.
Pentucket Bank, with assets of over $790 million, offers six full service community banking offices; three in Haverhill, MA, one in North Andover, MA and one each in Hampstead and Salem, New Hampshire. In 2017 Pentucket Bank expanded their Executive Offices to the fourth floor of the new Pentucket Bank Plaza building at Harbor Place in Downtown Haverhill. Pentucket Bank is a subsidiary of Pentucket Bank Holdings, MHC. For more information on Pentucket Bank, please visit www.pentucketbank.com.