Investors Savings Bank in Millburn, N.J., has promoted Mathew F. Raftree to president and chief executive officer, succeeding Patrick J. Grant, who remains chairman.

Mr. Raftree was executive vice president and chief financial officer. He joined the bank in 1983 as senior vice president and CFO and was named a director in 1991 and promoted to executive vice president in 1992.

Earlier he was finance director and acting executive director at the New Jersey Housing Finance Agency. Before that he had been executive vice president and chief financial officer at Harmonia Savings Bank in Elizabeth, N.J., which was bought by Sovereign Bank in 1993.

Mr. Grant retired as chief executive after 10 years in charge of Investors Savings, which has $4 billion of assets.

NEW ENGLANDRidgefield Bank in Danbury, Conn., has hired James E. Cotter as senior vice president of retail banking.

Mr. Cotter was director of treasury management at St. Raphael's Hospital in New Haven. Before that he was a vice president and controller at Bank of New Haven, which Citizens Bank of Connecticut in New London, bought in 1997.

Ridgefield Bank has $442.7 million of assets.

MIDWESTNorth Bancshares in Chicago has hired Joseph M. Perri as senior vice president and loan department manager for its North Federal Savings Bank.

Mr. Perri will be in charge of residential and consumer lending operations.

He was senior vice president of the Chicago real estate finance firm Julian Toft & Downey, where he was in charge of commercial mortgage loan origination. Earlier he was a senior vice president and regional originations manager in the commercial lending department at LaSalle National Bank in Chicago.

North Bancshares has $131 million of assets.

MIDDLE ATLANTICHarbor Bank of Maryland in Baltimore has promoted Sheila Lawson to senior vice president of lending.

Ms. Lawson is to oversee the bank's loan portfolio and manage the loan department. She joined the bank in 1988 and was most recently a senior lender.

Harbor Bank, a subsidiary of Harbor Bancshares, has $177.6 million of assets.

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