Michael Rauh retired from his role as president and CEO of Chelsea Groton Bank at the end of 2022, and the bank’s chief operating officer, Tony Joyce, has taken over leadership of the bank.

Joyce became Chelsea Groton Bank’s president and CEO on Jan. 1. He had joined Chelsea Groton’s senior leadership team in 2013 as leader of the commercial lending group, the bank said in a newsletter last month. He became executive vice president and COO in 2020.

In addition to being a  trustee of the Chamber of Commerce of Eastern Connecticut, Joyce is a board member for Hartford Healthcare East Region and on the finance committees of Hartford Healthcare and the Diocese of Norwich.

“Under my leadership, I will ensure the Bank continues to provide the highest level of service to customers,” Joyce said in the newsletter. “Our commitment to innovation and advanced technology will continue to be a focus so customers can manage their finances in a safe, secure way that is convenient for them. And, above all, we will remain deeply committed to serving our community, through funding, volunteerism, and responding to any needs that arise. We’ll always be an organization committed to supporting the health, education, culture, and diversity of the communities we serve.”

Rauh had led the bank for 12 years, the newsletter said. During his tenure, surpassed $1.5 billion in assets, nearly doubling its size. The bank also expanded its lending footprint and underwent a digital transformation.

“My goal in my tenure as CEO has been to honor the great work done by those before me, and to try to leave the Bank a little better than it was when I took the job,” Rauh said. “I have had the privilege of working with an outstanding team and being supported by our Trustees and Corporators. Together we have had much success, and that will continue long into the future.”

Rauh will remain a corporator and trustee for Chelsea Groton Bank.