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James F. Conway, III Elected Board Vice Chairman and Lead Director of Enterprise Bancorp, Inc. and Enterprise Bank

LOWELL, Mass., Aug. 12, 2015 (GLOBE NEWSWIRE) -- Chairman George L. Duncan and the Board of Directors of Enterprise Bancorp, Inc. and Enterprise Bank are pleased to announce the election of James F. Conway, III to the positions of Board Vice Chairman and Lead Director for Enterprise Bancorp, Inc. and Enterprise Bank.

Mr. Conway, who has served as a Director since 1989, assumes the Board Vice Chair and Lead Director positions from Arnold S. Lerner, who had held the Vice Chair position since 1989 and the Lead Director position since it was created in 2012. Mr. Lerner will continue to serve as a Director, Chair of the Corporate Governance/Nominating Committee, and a member of the Executive, Asset-Liability, Enterprise Investment Advisors and Compensation Committees.

Mr. Conway, Executive Vice President of RR Donnelley and the former CEO of Courier Corporation, is a highly respected businessman and philanthropist whose service to Enterprise has included leadership and guidance on several board committees, including the Executive Committee, the Corporate Governance/Nominating Committee and the Strategic Planning Committee, in addition to his role as Chair of the Compensation Committee.

“This transition demonstrates Enterprise’s commitment to long-term succession planning and board leadership from the highest caliber of local community and business leaders,” Mr. Duncan said. “Mr. Conway has had a significant impact during his more than 26 years of service to Enterprise. He brings to this role the ideal combination of operating company leadership, local community knowledge and leadership, SEC experience, and business expertise – as well as an extensive knowledge and appreciation of Enterprise’s independent bank culture.”

In a joint statement, Mr. Duncan and Mr. Conway expressed great admiration and gratitude for Mr. Lerner’s service to Enterprise. “It would be truly impossible to overstate Mr. Lerner’s personal commitment to Enterprise through the years, his profound impact on the culture, corporate governance, strategic planning, and success of Enterprise, and his innate sense of fiduciary responsibility to Enterprise shareholders, employees, and customers. The Enterprise team looks forward to Mr. Lerner’s continued guidance and service.”

Mr. Conway stated, “I am honored to follow in Mr. Lerner’s footsteps and I recognize both the privilege and profound responsibility I have in serving all of Enterprise’s stakeholders.”

About Enterprise Bank
Enterprise Bank has 22 full-service branch offices located in the Massachusetts cities and towns of Lowell, Acton, Andover, Billerica, Chelmsford, Dracut, Fitchburg, Lawrence, Leominster, Methuen, Tewksbury, Tyngsborough, and Westford, and in the New Hampshire towns of Derry, Hudson, Nashua, Pelham and Salem. As of June 30, 2015, assets were $2.17 billion. Total assets under management totaled $2.95 billion. Enterprise Bancorp, Inc. is listed on the NASDAQ Global Market under the stock symbol “EBTC.” For further information, visit EnterpriseBanking.com.

Matthew Coggins Senior Vice President/Marketing and Corporate Communications 978-656-5708 Matthew.Coggins@ebtc.com

Source:Enterprise Bancorp, Inc.