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Jalbert set for retirement


Coderre to take over as Savers CEO



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Savers Bank Vice President, Treasurer and CFO Joe Coderre, left, and Paul Jalbert, president and CEO. Jalbert will retire Jan. 31 after nearly 40 years with the company, and Coderre will be his replacement. Adam T. Silva. (click for larger version)
January 16, 2011
SOUTHBRIDGE — Savers Bank President and CEO Paul Jalbert is retiring at the end of the month after nearly 40 years with the company.

Senior Vice President, Treasurer and CFO Joe Coderre will take over Feb. 1. Jalbert took over as president in 1989. Currently, the bank is worth more than $400 million.

"Retirement is something that just came about at a good time for me and the bank," said Jalbert, who will turn 62 Friday, Jan. 28. "We have strong senior management that is capable to take over my position. Surprisingly, unlike many bankers, I am not a golfer. I don't have a lot of hobbies. I just generally like to be around my home. I've got grandchildren I plan on spending time with and I have plans for my wife and I to do some traveling."

Jalbert, who is originally from Southbridge, got his start at the bank after spending four years in the Air Force. Upon returning home, he wanted to take a job in the community and started as a teller.

Longevity is surprisingly common at Savers, as Jalbert began 37 years ago with the company. This year will be Coderre's 26th year with the company and Jalbert's predecessor, Robert Coderre, spent 41 years with the bank.

For more on this story, please see tomorrow's Southbridge Evening News.

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