MutualOne Bank Announces New President Thursday

FRAMINGHAM, MA- Mark R. Haranas, Chief Executive Officer of MutualOne Bank announced Thursday that Kristin Carvalho has joined the bank as its president, chief operating officer, and treasurer.

Carvalho brings with her more than three decades of financial industry experience. She most
recently served as president, CEO, and chairperson at Cobblestone Management/PNB, LLC.,
which is a credit risk management consulting company to many financial institutions
throughout the Northeast and New York. Prior to that role, she was president, CEO and a
director at The Milford National Bank and Trust Company for over 10 years until its merger in
2018.

A doctoral candidate in business administration from the University of Rhode Island, Carvalho
has earned a bachelor of science degree in marketing degree from UMass Dartmouth, a master of
business administration from Bryant University, and a master of science in banking and
financial services from Suffolk University.

MutualOne Bank, which operates under an 1889 state charter, has full-service offices at 828
Concord St. and One Lincoln St. in Framingham and at 49 Main St. in Natick; a
Commercial Loan Center at 160 Cochituate Rd. in Framingham; and a Residential Loan
Center at 49 Main St. in Natick. The bank is a member of the Federal Deposit Insurance
Corporation (FDIC) and a member of the Depositors Insurance Fund (DIF). All deposits are
insured in full.

The above is a press release. Any opinions expressed are those of the author.