WAKEFIELD – Local resident and career certified public accountant (CPA) Michael Hanna has always lived by one standard - early years are for learning, middle-age is for earning and retirement is for returning. With his appointment to the Bank Rhode Island (BankRI) Board of Directors last month, Hanna believes the new opportunity, along with other recent volunteer work, are fulfilling the third part of that creed.
“I like to think of myself as an ambassador for the bank,” he said. “As a board member, you don’t run the business. You’re more like an ambassador, and I think I could be good in that role.”
Hanna has more than 30 years of public accounting experience, with expertise in mergers and acquisitions, tax, business advisory and consulting services–all knowledge he will bring with him to his new volunteer position on the BankRI Board of Directors. The 30-year resident of Wakefield is currently a partner in Rhode Island Capital, LLC and Northeast Equity Partners, LLC and is a retired partner of Blum Shapiro P.C., Inc., the largest privately owned CPA firm in New England. Hanna also served as a Principal of the former Sullivan & Company CPAs LLP.
“I’m a CPA by trade and I’m active in the business community,” he said. “I know a fair amount of people, and as a result, maybe I can help the bank down the road. I’m retired, so I have time. I still handle some of my own investments in real estate, but besides that, I do have some time.”
Hanna’s new role will allow him to be closer to a subject he said he finds interesting - how banks manage their lending standards and practices when it comes to every man.
“As a CPA, I’ve always been fascinated with how a bank operates and how they determine who they lend money to and who they don’t,” said Hanna. “Certainly, I have a general knowledge of that from being in the business, but I’ve always been fascinated by that and I always think about how banks help people grow and help businesses grow. Without lending institutions, you can’t leverage your business, you can’t create employment, you can’t grow.”
In addition to his new venture at BankRI, Hanna remains active in the nonprofit community, serving on the Rhode Island Hospital Foundation Board of Governors.
“I’ve always lived by the standard that the first third of your life, you learn and in the second third, you earn and then the last third, you return,” Hanna states. “That’s what I’m trying to do. I think BankRI is a worthy cause.”
Hanna was officially installed on the BankRI Board of Director’s at the board’s October meeting along with two other individuals–Anthony Maione, retired and longtime CEO and president of United Way Rhode Island and Lynn Moran, principal owner of Moran Properties.
BankRI is a wholly-owned subsidiary of Brookline Bancorp, Inc. and operates 20 branches throughout the state, including in Wakefield, North Kingstown, Coventry and East Greenwich. The bank is headquartered in Providence.