Retiring Needham Bank CEO Jack McGeorge was the guest of honor at a reception sponsored by the Newton-Needham Chamber and the Residences at Wingate May 12.

After nearly four decades at the helm, McGeorge is handing off the CEO role to president and Chief Operating Officer Mark Whalen, but will remain chairman of Needham Bank’s board of directors.

“In accepting your recognition, I do so for every employee at Needham Bank, because this is a team sport,” McGeorge told more than 100 well-wishers. “It’s never been about one person, but about what we all can do when we work together. And I hope that never changes.”

The Needham Bank has long been one of the leading corporate citizens of our town” Needham Board of Selectman Chair Moe Handel said. “Jack McGeorge has continued and advanced that role during his tenure at the bank. His work can be seen all over town from the Needham Historical Society to the Needham Bank Great Hall Concert Series. It is a privilege to have known and worked with him over many years. We all wish him well in his new role.”

Just three years ago, Needham Bank’s assets were around $900 million. Today they are at $1.7 billion. The bank has added 100 employees in the past five years alone and is in the process of expanding its Needham Center facility and opening new branch offices in Ashland, Millis, and Natick.

“Jack has served our communities with grace, class and conviction,” Chamber President Greg Reibman said. “Under his leadership, the bank has supported nearly 300 community organizations of all shapes and sizes. That’s a staggering amount of giving back to the community and it distinguishes what Jack believes in. We are so appreciative of his vision and friendship.”

“As I’ve joked recently with the folks at the bank,” McGeorge said, “I may not be the CEO any longer – but I’m not going away! … Our partnership with the chamber and with each of you has been and will continue to be incredibly important.”

Scott Schuster, founder and president at Wingate Healthcare, also spoke at the event honoring McGeorge.