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Board of Directors

MHP is governed by a seven-member board of directors appointed by the Governor that includes two cabinet secretaries or their designees, and three nominees of the Massachusetts Bankers Association.

Board Meetings

The MHP board meets bimonthly. The board’s Executive Committee meets on opposite months to approve loans and conduct routine business. Meetings are open to the public. For more information, contact Public Records Officer Lisa Braxton.

MHP Board Meeting June 18, 2024

Board & Executive Committee minutes


(Link connects to notice & agenda of upcoming meeting)

  • Executive Committee
  • Finance Committee June 3, 2024
  • Audit & Risk Committee
  • Mission & Performance Committee meeting
  • Compensation and Human Resources Committee meeting

Board Members

John Clancy, Jr., Chair

John Clancy, Jr.


Chief Executive Officer, Enterprise Bank

John (Jack) P. Clancy Jr. is Chief Executive Officer for Enterprise Bank. Headquartered in Lowell, Massachusetts, Enterprise Bank has $1.4 billion in assets and 18 branches located throughout the Merrimack Valley, North Central Massachusetts, and Southern New Hampshire.

Clancy began his career at Enterprise Bank in 1988 as Chief Financial Officer and Treasurer and later became Chief Operating Officer. He was named Chief Executive Officer in January 2007.

Clancy is a lifelong resident of the Greater Lowell area with personal ties to many of the communities his bank serves. He graduated summa cum laude from the University of Lowell (now UMass Lowell) and has successfully completed the Harvard Business School's Advanced Management Program.

Alicia Sasser Modestino, Vice Chair

Alicia Sasser Modestino

Vice Chair

Associate Professor of Public Policy and Urban Affairs and Economics, Northeastern University; Associate Director, Dukakis Center

Dr. Alicia Sasser Modestino is an associate professor with appointments in the School of Public Policy and Urban Affairs and the Department of Economics at Northeastern University. Previously, Modestino was a senior economist at the Federal Reserve Bank of Boston where she lead numerous research projects on regional economic and policy issues for the New England Public Policy Center. In that role, she frequently advised policymakers and business leaders and testified on key pieces of legislation related to labor market policies. Her work has appeared in journals such as Regional Science and Urban Economics, Journal of Human Resources, and Health Affairs and has been presented at the annual meetings of the American Economic Association.

Modestino holds both a master’s degree and a Ph.D. in economics from Harvard University, where she also served as a doctoral fellow in the Inequality and Social Policy Program at the Kennedy School of Government.

Denis Sheahan, Secretary & Treasurer

Denis Sheahan

Secretary & Treasurer

Chairman & CEO, Cambridge Trust Company and Cambridge Bancorp

Denis Sheahan serves as Chairman and Chief Executive Officer of Cambridge Trust Company and Cambridge Bancorp. Prior to joining Cambridge Trust Company in April 2015, Mr. Sheahan spent 19 years at Independent Bank Corp. and Rockland Trust where he served as Chief Financial Officer and Chief Operating Officer. Prior to joining Rockland Trust Company, Mr. Sheahan served as Vice President of Finance for BayBanks, Inc.

Sheahan currently serves as Board Trustee for Cambridge Community Foundation. He previously chaired the Old Colony YMCA Board of Directors and served on the Executive Committee. In 2016 he was honored to receive the Whitney M. Young Jr. Service Award by the Old Colony Council, Boy Scouts of America.

Sheahan is a graduate of the Cork Institute of Technology, Cork, Ireland and received a Master’s of Business Administration from Boston University.

Edward M. Augustus, Board Member

Edward M. Augustus

Board Member

Secretary, Executive Office of Housing and Livable Communities

Edward M. Augustus serves as Secretary of the Executive Office of Housing and Livable Communities. He is the state's first housing secretary in more than 30 years. This cabinet-level secretariat is solely dedicated to housing and driving solutions to create more homes and lower costs.

Augustus served as City Manager of Worcester. He helped create thousands of new housing units at all income levels during his tenure. Prior to joining the City of Worcester, Augustus served as Director of Government & Community Relations for the College of Holy Cross, State Senator for the 2nd Worcester District, Chief of Staff for Congressman Jim McGovern, and Chief of Staff to the Assistant Secretary for Intergovernmental and Interagency Affairs at the U.S. Department of Education under President Clinton’s Administration. He most recently served as Chancellor of Dean College.

Carolyn Ryan, Board Member

Carolyn Ryan

Board Member

Senior Vice-President, Policy and Research, Greater Boston Chamber of Commerce

Carolyn Ryan oversees the Greater Boston Chamber of Commerce’s policy department, which develops and advocates for policies that contribute to the economic success of our region and generate economic opportunity for businesses and people. Ms. Ryan joined the Chamber in 2015.

Previously, Ms. Ryan was a policy analyst at the Massachusetts Taxpayers Foundation where she focused on issues of tax and municipal finance, among other areas. Prior to that she was a consultant with Public Financial Management in Philadelphia. In that role, Ms. Ryan was a member of the state-appointed financial oversight teams for Pittsburgh and Reading, Pennsylvania. She previously held positions with the Office of the Legislative Counsel in the U.S. House of Representatives and the Harvard University development office.

Ms. Ryan earned a B.A in English from Williams College, where she was co-captain of the women’s varsity volleyball team, and an M.A. in government administration from the University of Pennsylvania, where she received the Audrey Miller Poritzky award for leadership.

Matthew S. Sosik, Board Member

Matthew S. Sosik

Board Member

President & CEO, Hometown Financial Group

Matthew S. Sosik is president and chief executive officer of Hometown Financial Group (HFG), a $2.7 billion mutual multi-bank holding company based in Easthampton. Under Sosik’s direction, HFG has grown by nearly 300 percent, executing five merger and acquisitions since 2013. HFG is the parent company of three mutual banks - bankESB (formerly Easthampton Savings Bank), Oxford-based bankHometown, and Abington Bank, a merger that was completed in the spring of 2019 and also included the merger of Pilgrim Bank in Marion and Cohasset. Together, these mutual banks serve towns in the Pioneer Valley, Central Mass., northeast Connecticut, and the South Shore.

A native and lifelong resident of Sturbridge, Sosik has a Bachelor of Science in Economics and Finance from Bentley University. After working as a bank examiner for the Federal Deposit Insurance Corporation for four years, he was named president of Hometown Bank in Oxford in 1997. He remained at Hometown Bank for nearly 17 years. In 2013, he was named president and chief executive officer at bankESB. In 2015, Sosik oversaw the acquisition of his former mutual bank, Hometown Bank. Hometown Financial Group emerged soon after becoming the parent company of the new mutual multi-bank structure.

Aditya Basheer, Board Member

Aditya Basheer

Board Member

Assistant Secretary (designee for Secretary Matthew Gorzkowicz), Executive Office of Administration and Finance, Commonwealth of Massachusetts

Aditya Basheer has been assistant secretary, Executive Office of Administration and Finance, since January 2023. Prior positions for the Commonwealth of Massachusetts include director of strategic innovation, and later, senior director of strategic innovation. Earlier in his career he was a project manager for the U.S. Department of Defense and senior technical program manager for Waymo, an autonomous driving technology company. He earned his Master of Business Administration from Yale School of Management and his bachelor's degree in economics and history at Bowdoin College.