New Hampshire Banker's President Steps Down, Citing Pressure of Job

Marcel P. Veilleux has resigned as president of the New Hampshire Bankers Association, citing poor health.

"The stress had gotten to me," Mr. Veilleux said from his Manchester home. "I never felt pressured to leave. A decision was made that the parting would be best for both of us."

Mr. Veilleux, 35, who had been president since 1988, resigned last month.

During his last two years as head of the trade group, he represented banks and thrifts battered by recession and heavy losses.

Earnings Difficulties

Five of the state's largest banks and thrifts - New Hampshire Savings Bank Corp., Amoskeag Bank Shares Inc., Dartmouth Bancorp, BankEast Corp., and Numerica Savings Bank Corp. - have had serious financial problems.

Last year, the state's banking industry as a whole lost $157.4 million, while thrifts lost $50 million.

Mr. Veilleux was among state leaders who last winter urged federal regulators to consider infusing fresh capital into the five troubled institutions, to avoid shutting them down.

"Marcel was proactive," said Douglas Crichfield, president and chief executive of Concord Savings Bank.

While the industry struggled, so did Mr. Veilleux trade group. The staff is down to five, from 12 when Mr. Veilleux took over.

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