Needham Bank in Massachusetts will have a new chief executive next year.

Mark Whalen, the bank's president and chief operating officer, will succeed Jack McGeorge as CEO in April 2015.

McGeorge, who has been with Needham for more than 38 years, will remain the chairman after the changeover.

Whalen has been with Needham since 2007 when it merged with Dedham Cooperative Bank, where he was president and CEO.

Needham has $1.3 billion of assets, and it has grown from 57 employees to 160 in the past four years. It recently opened a 7,500 square-foot lending center in Needham and is currently building an adjacent 7,500 square-foot administration building, the bank said in a news release.

"Jack McGeorge has been a great inspiration and mentor to all of us at Needham Bank," Whalen said in the release. "I am pleased that he will be staying on as board chair, allowing us to continue to take advantage of his wise counsel, guidance, deep industry knowledge and lasting customer relationships developed over the years."

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