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It is with great sadness that Manufacturers Bank announces the loss of our beloved President, Naresh Sheth. Naresh passed away on Monday, April 19, 2021.
Naresh began his career with Manufacturers Bank as the Senior Vice President and Asset Based Lending Manager in 1991. In 2005, he was appointed Executive Vice President and Chief Credit Officer and was promoted to President and Chief Operating Officer in 2011. Naresh’s soft-spoken, noble nature benefited the Bank with strong leadership that guided our strategic focus.
During his tenure, the Bank achieved net income of $30.1 million in 2019, the highest ever recorded in its history along with nearly doubling both gross loans and total deposits. His credit focus ensured that the Bank consistently maintained exceptional credit quality. Challenges of the recent pandemic slowed the Bank’s loan production but struggling business customers continued to benefit from his leadership through Paycheck Protection Program funding of $271 million.
Naresh’s expansive banking career of over 30 years includes commercial and private banking roles with Bank of America, Citigroup, and Western Financial Bank. Each of these organizations recognized the talent and contributions of this dedicated, talented man.
The entire Manufacturers Bank family mourns the passing of Naresh; he will be missed by all who had the honor of knowing him.
Our collective hearts go out to Naresh’s wife, children, and family. We thank you for sharing Naresh – a beacon and an inspiration – with us. We are keeping them in our thoughts and prayers.
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