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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 Ruston Lodi.

MHP 2022 Board Schedule

MHP Board Meeting - Public Notice (02-28-2023)

Board & Executive Committee minutes


(Link connects to notice & agenda of upcoming meeting)

  • Executive Committee
  • Finance Committee
  • Audit & Risk Committee
  • Mission & Performance
  • Compensation and Human Resources Committee

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.

Jennifer Maddox, Board Member

Jennifer Maddox

Board Member

Undersecretary for Housing & Community Development, Executive Office of Housing & Economic Development

Jennifer Maddox has been at the state Department of Housing and Community Development (DHCD) for over 20 years and has been its chief financial officer since 2008. She was named undersecretary of DHCD in Feb. 2020.

As chief financial officer, Maddox is responsible for the overall financial management and oversight of DHCD's resources, which total over $1 billion. Duties and responsibilities include budgeting, accounting/finance, grants management (state and federal), internal controls, human resources and central administrative services.

Prior to being named chief financial officer, Maddox was DHCD's budget director. She is a graduate of La Salle University. Prior to joining DHCD, she was on the staff of the state legislature's House, Ways & Means Committee for four years, rising to the post of assistant budget director.

Mark Attia, Board Member

Mark Attia

Board Member

Senior Director (designee for Secretary Michael J. Heffernan), Executive Office for Administration and Finance

Mark Attia serves as the Assistant Secretary for Finance and Performance Management at the Executive Office for Administration and Finance (A&F) for the Commonwealth of Massachusetts. He is responsible for structuring complex capital and project finance transactions that require significant public infrastructure investments intended to spur economic development in the Commonwealth. Mark is also responsible for general management of the Commonwealth’s capital and special finance bond programs.

Additionally, Mark leads the Commonwealth’s Social Innovation Financing initiatives, also known as Pay-for-Success or Social Impact Bonds, a series of unique public-private partnerships designed to scale results-driven social services with the goal of measurably improving outcomes for people most in need while advancing an evidence-based policymaking agenda.

Mark serves on the Board of Directors of MassHousing, MassDevelopment, and the Massachusetts Housing Partnership, the state’s housing and economic development finance agencies. He holds a dual Masters in Urban and Environmental Planning and International Business from the Fletcher School of Law & Diplomacy at Tufts University.

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.