David W. Fanikos Joins Salem Five as Senior Vice President, Bank Counsel

Salem, Mass., March 18 - Salem Five President and CEO Joseph M. Gibbons is pleased to announce that David Fanikos has been appointed to the position of Senior Vice President, Bank Counsel. In this role, Mr. Fanikos will be the primary contact for management and staff on all legal matters, responsible for assuring the maintenance of an effective compliance system and overseeing regulatory and security matters.

“David’s extensive legal knowledge, leadership experience and ability to manage the day-to-day operations of a large organization are an incredibly valuable asset,” said Salem Five President and CEO Joseph Gibbons. “By fostering the utmost security and stability we continue to innovate and serve our customers in new and effective ways. David’s legal work will be integral to that leadership as the bank continues to grow.”  

Mr. Fanikos joins Salem Five from Coady Law Firm, where he was a trial attorney and advised commercial and individual clients on a wide variety of matters.  Additional prior legal experience includes employment with Boston-based firms, Demeo & Associates, P.C., Riemer & Braunstein LLP, Goulston & Storrs, and Peabody & Arnold.  Mr. Fanikos received his juris doctor cum laude from Suffolk Law School, where he was the Editor-in-Chief of the Suffolk Transnational Law Review. He holds a bachelor’s degree in economics from Harvard University, where he also was a member of the varsity football team. Mr. Fanikos served in the United States Marine Corps as an infantry officer and served at various military posts in the United States and abroad.  He currently resides in Andover, MA.

Salem Five (salemfive.com) believes better banking starts with listening. A mutual institution founded in 1855, Salem Five designs and delivers sophisticated retail and commercial banking products and services coupled with smart technology. Among the first banks in the country to offer online banking, Salem Five continues to innovate, providing banking access wherever its customers need it: online, mobile, ATMs, offices, phone, email and more. Salem Five is one of the largest Massachusetts-headquartered banks with $2.9 billion in assets, and has 23 retail branches. Salem Five Mortgage Company finances more homes statewide than any other Massachusetts bank, and has offices throughout Massachusetts, Maine and Rhode Island. Salem Five Investment Services offers financial and retirement planning, portfolio review and money management with a focus on retirement income. Salem Five Insurance Agency provides personal and commercial insurance. Stoneham Savings, a division of Salem Five Bancorp (stonesav.com), has assets over $335 million and provides a full range of financial services to individual consumers and small- and middle-market businesses through six branches in Middlesex County. Deposits are insured through the FDIC and DIF. Investment and Insurance products sold through Salem Five Investment Services, LLC or Salem Five Insurance Services, LLC are:  not FDIC insured, not bank guaranteed, may lose value, not a deposit and not insured by any federal government agency.