Paul J. Falvey has resigned as president and chief executive officer of the Bank of New Hampshire, citing personal reasons for his departure after leading the financial institution through three years of growth.

Bank Vice President Michael Seymour told The Laconia Daily Sun that until a permanent successor is found, Falvey will be replaced by Michael J. Long, a member of the bank’s board of directors and the retired president and chief executive officer of Community Guaranty Savings Bank in Plymouth. That financial institution was acquired by the Bank of New Hampshire in 2016.

Falvey resigned April 10, effective immediately, and plans to relocate from Gilford to southeastern Massachusetts to be closer to family, Seymour said.

Falvey leaves during a time when the coronavirus pandemic has created tremendous uncertainty throughout the economy along with great demands on the bank as its employees work around the clock to administer Payroll Protection Loans backed by the federal Small Business Administration.

“Everything going on in the world causes all of us to reflect a little,” Falvey said. “I came to the bank with a mission to really improve the bank in a number of ways. We really have achieved that. In a number of respects, the bank is in great shape and is performing very well.

“We grew up in the South Shore.

We thought this was a good time to relocate and let another leader come in right now.”

He said he’s proud of what the bank has accomplished during his tenure and plans to take at least six months to consider other possible opportunities.

“The bank is in terrific shape in all respects,” he said. “It’s a good time for me to step away.”

— THE LACONIA DAILY SUN