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Grasshopper Bancorp, Inc. Names Michael Butler as Chief Executive Officer

Published 4 years ago via Business Wire

Fintech and Banking veteran brings over 30 years of experience to growing team

Grasshopper Bancorp, Inc., (“the Company”) the parent bank holding company of Grasshopper Bank, N.A. (“the Bank”), a national banking association, announced that its Board of Directors has appointed Michael “Mike” Butler as President and Chief Executive Officer, and a Director of the Company, effective May 3, 2021. Upon receipt of and subject to regulatory approval, Mike will also serve as President and CEO and a Director of the Bank.

“We are excited to welcome Mike Butler as Grasshopper’s new Chief Executive Officer,” said John Flemming, Chairman of the Board of Grasshopper Bancorp and the Bank. “Mike is a highly accomplished executive with a successful track record leading tech-forward banking companies, elevating them to new heights and delivering great value for clients, employees and shareholders. He brings a unique and relevant perspective, and the energy and experience to double down on our commitments and lead our company into the future.”

Butler follows Judith Erwin, who founded the Bank in 2016. Butler most recently spent 13 years at Radius Bank, where he was the President and CEO. Butler transformed Radius into one of the most tech forward banks in the country, forging strategic partnerships with fintech firms and delivering a robust banking as a service (BaaS) offering to consumers and clients. At Radius, he focused on delivering superior customer service and leading edge technology. Prior to joining Radius, Butler served as President for National Consumer Finance at KeyCorp in Cleveland, Ohio. He is an experienced banking executive with an extensive background in all facets of commercial and consumer banking.

"I’m deeply honored to have the opportunity to succeed Judith and lead Grasshopper on the next phase of its growth trajectory," Butler said. “I’m looking forward to partnering with the Grasshopper team to accelerate the existing business plan and enhance our business model. The vision has and will continue to be centered on making banking simple, secure, effortless and transparent. In the virtual world that we live and operate in, customers are seeking seamless online services to make their everyday lives easier - now is the time to capitalize on the opportunities ahead and to continue driving new innovation.”

As part of this transition, Erwin will be departing Grasshopper Bank, effective May 2. “On behalf of the Board of Directors, I would like to thank Judith for her stewardship and her many contributions to Grasshopper over the last five years,” Flemming said. “We thank Judith for the service and leadership that she has provided and all the work she has contributed to build Grasshopper from the ground up and wish her all the best on her next projects.”

“I’m so pleased that Mike, a strong leader with the experience and track record to support Grasshopper’s evolution, will be leading Grasshopper,” said Erwin. “The Bank is at a clear inflection point and Mike’s perspective on emerging technology will support the Bank’s evolving business and long-term growth. I look forward to watching Grasshopper’s continued success.”

Butler serves as a member of the Financial Services Committee for the Greater Boston Chamber of Commerce, on the Board of Trustees for Thompson Island Outward Bound, on the Advisory Board for FinXTech, and has been active with the Habitat for Humanity program. He is a graduate of Providence College and the ABA's Stonier Graduate School of Banking.

About Grasshopper Bancorp, Inc.

Grasshopper Bancorp, Inc. is a Delaware corporation and the bank holding company of Grasshopper Bank, N.A. The Bank is a national bank offering a full array of commercial banking products to innovation economy companies and the venture capital firms that fund such companies. Based in New York City, the second largest venture capital funding center in the U.S., Grasshopper Bank delivers cloud-based banking solutions and financial services that enable the leadership of innovative, emerging and established companies more efficiently address the day-to-day challenges of their financial operations.

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