Monson Savings Bank Executive Vice President and Chief Operating Officer Michael Rouette, CEO Steve Lowell and President and future CEO Dan Moriarty Sr. pose for a photo. Photo courtesy of Monson Savings Bank

Monson Savings Bank has picked its new top leader to replace retiring CEO Steve Lowell.

President Daniel Moriarty Sr. will take over the CEO role while retaining his title of president when Lowell departs the bank on Feb. 14. Moriarty was named to his current post in October after 22 years with the bank, most recently as a senior vice president and chief financial officer since 2011. Moriarty said in a statement that he was “humbled and honored” to be chosen.

Moriarty’s top deputy will be Michael Rouette, a 30-year Monson Savings Bank employee who was recently elevated to executive vice president and chief operating officer. Moriarty and Rouette are longtime collaborators at the bank and friends from childhood.

“Dan and Michael’s long connection as friends, teammates and colleagues, their local roots, their innovative thinking, and their respected leadership approach are the reasons why they are a perfect and dynamic team to lead Monson Savings Bank forward. Monson Savings Bank is in good hands,” Lowell said in a statement.

Lowell is retiring after 10 years at the helm of the bank, where he grew the institution from $237 million in assets, 60 workers and five branches to seven branches, 95 workers and $510 million in assets. In a statement announcing Lowell’s retirement, the bank identified digital banking, online account opening and online application options as key factors in that growth along with “high quality and convenient service,” and the opening of a loan center in Wilbraham and the new branch in East Longmeadow.

Lowell will stay on as chairman of the board after his retirement from day-to-day operations.

“All of us at Monson Savings Bank have found Steve’s leadership and support over the years to be invaluable. Monson’s growth and success over the last decade is in large part to his leadership. He developed a culture of respect and teamwork that fostered a positive and productive work environment, allowing every team member to feel invested and happy with their work,” Moriarty said in a statement. “I look forward to continuing forward with the culture he has established.”