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Meet the Team

The Commercial Banking Team at The Savings Bank has more than 40 years of combined business banking experience. They've worked with businesses of all sizes - from small start-ups to national corporations to real estate projects of every description. That experience gives our Commercial Banking Group a depth of knowledge that can really make a difference. Plus, they'll go out of their way to make banking easier and more convenient - so you can stay focused on your business.

Peter Johnston Peter W. Johnston
Senior Vice President and Senior Commercial Banking Officer

Pete has more than 20 years of commercial lending experience and his strengths lie in the strong relationships that he has fostered with his business customers.  With previous commercial banking positions including Vice President, Commercial Relationship Manager at Sovereign Bank, and positions in commercial lending at the Institution for Savings, Provident Bank, First Essex Bank, First & Ocean National Bank, and Chemical Bank New Jersey, Pete brings strong commercial background and leadership to our team. 

Tim FrechetteTimothy Frechette
Vice President and Commercial Banking Officer

Tim joined The Savings Bank with an extensive background in commercial lending and business development. With a commitment to the local business community coupled with his commercial banking experience, Tim is a tremendous asset to the TSB team. Tim holds an Associated Degree in Business Administration from Northern Essex Community College. He is a graduate of the Wharton Leadership Program at the ABA Stonier Graduate School of Banking and holds numerous board positions including the Merrimack Valley YMCA, Methuen/Salem Rotary and the Merrimack Valley Italian American Charities. 

NickNick Kefalas
Vice President and Commercial Banking Officer

Nicholas joined The Savings Bank with more than 30 years of experience in the banking industry, including working in Commercial Real Estate, C & I, construction lending, business development, portfolio management, and credit analysis.  He worked most recently at Stoneham Bank.  Nick received his Bachelor’s degree from North Adams State College and is a graduate of Fleet Bank’s Commercial Credit Lending Training Program.  He received his Commercial Lending Certification from the New England College of Finance.

Fred MaloofFrederick P. Maloof
Vice President and Commercial Banking Officer

Fred has been a commercial lender for 35 years, having worked most recently at Reading Cooperative Bank and Lawrence Savings Bank/River Bank. He received a BS degree in Finance from Northeastern University, and served as Chairman of the Lawrence Salvation Army Advisory Board and as a Director of the Lawrence Downtown Parking Association. While serving as a Director of the Lawrence Habitat for Humanity, Fred helped build affordable homes in Lawrence and Methuen, as well as in Central America. Fred has qualified in Massachusetts Courts as an expert witness on real estate valuations. Fred’s longevity in the banking industry has earned him countless business and personal relationships in our local communities.


 Offices in Wakefield, Lynnfield, Andover, Methuen and North Reading

 We're cost efficient, responsive, knowledgeable and local.
 Call us today at (800) 246-2009.


Related Links

Commercial Loans
Commercial Checking
TSB Cash Mangement
Investment Services


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The Savings Bank  357 Main Street St, Wakefield, MA, 01880    Phone: (800) 246-2009    Fax: (781) 224-5482
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