Sushil Tuli

Sushil K. Tuli has been one of the leading figures in financial services throughout Massachusetts for nearly thirty-five years. Mr. Tuli founded Leader Bank in May of 2002, opening a single branch in East Arlington with seven team members and $6.5 million in assets. Mr. Tuli has guided Leader Bank to become one of the top community banks in the country, with well over 400 team members across six full service branches and nine loan production centers, and over $4.44 billion in assets. Since its founding, Mr. Tuli has grown all facets of Leader Bank’s business, with a particular focus on retail banking, residential mortgages and both commercial and small business lending.

Mr. Tuli and Leader Bank have been repeatedly honored for their success over the last decade. Under Mr. Tuli’s leadership, Leader Bank has received both a 5-Star Superior Rating from Bauer Financial in every quarter since 2010 and an “A” or “Excellent” rating from Weiss Ratings every year since 2009. Mr. Tuli also received a New England Choice Awards Lifetime Achievement Award in 2019 for his successes in the financial services industry.

Mr. Tuli’s leadership extends beyond his work with Leader Bank, having served in 1999 as the Chairman of the Massachusetts Mortgage Bankers Association, the largest mortgage banking industry association in New England. Mr. Tuli is currently serving on the Board of Directors for the Massachusetts Growth Capital Corporation and the Board of Trustees for the Dana-Farber Cancer Institute. Mr. Tuli also recently served on the Board of Directors for the Massachusetts Housing Finance Agency and was a member of both the Massachusetts Home Ownership Advisory Committee and Fannie Mae’s Affordable Housing Advisory Council. Mr. Tuli is regularly interviewed and quoted regarding his experience in and knowledge of lending and banking in Massachusetts and nationwide, and has been the subject of personal profiles in publications such as the Boston Globe and Banker and Tradesman.

Mr. Tuli received a master’s of public administration in 1975 from Punjab University in India and graduated from the Harvard Business School’s Owner, President and Management Program in 2010. Mr. Tuli was also recognized by Franklin Pierce University in 2018 with an honorary degree of Doctor of Humane Letters for his contributions to the banking industry.

Building Interest Podcast - Episode 3: Talking Banking and Small Business with Sushil Tuli

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A Letter From Our Chairman

Dear Shareholders, Clients, Team Members, and Friends:

When we founded Leader Bank in 2002, our goal was to create a truly entrepreneurial community financial institution that approached banking and lending differently by focusing on innovation and client service. As we celebrated our 20th anniversary throughout 2022, it filled me with pride to see not only how much the Bank has grown over the last two decades, but how we have remained true to the values that the Bank was built upon through this success.

When we opened our first branch, Leader Bank had $6.5 million in assets and seven team members. Today, the Bank has $4 billion in assets and more than 375 team members. This journey to become one of the most successful community banks not just in Massachusetts but in the entire country has been made possible by all of your support.

Despite the turmoil that has roiled the financial sector to start the year, Leader Bancorp has maintained a robust capital position, ending 2022 with a 12.56% capital leverage ratio and a 19.83% total risk-based capital ratio. This level of capital allows Leader Bank to take advantage of opportunities while ensuring overall strength and stability. Our credit quality remains strong, as we ranked in the 96th percentile among banks in our peer group with respect to our percentage of non-performing loans. Even during interest rate increases not seen in decades, Leader Bancorp was able to grow our assets by more than 27% while earning nearly $23 million in net income to allow us to build towards the future.

Alongside the Bank’s financial growth, I am also particularly proud that we continue to be recognized for both our work in the community and for being a great place to work. Leader Bank was named as one of the top places to work in Massachusetts by The Boston Globe last year, the sixth time making the list since the Bank’s founding and an especially meaningful achievement because it is based on feedback from our valued team members. Leader Bank was also recognized as one of the Best Places to Work in Boston by Built In for our positive workplace culture, demonstrating the success we’ve had adapting to a hybrid work environment following the COVID-19 pandemic. We also were thrilled to be named one of the top charitable contributors in Massachusetts by the Boston Business Journal for the sixth year in a row.

As always the management team and our Board of Directors thank you for your unwavering support as Leader Bank continues to expand our suite of exemplary banking and lending products and services to better serve our clients. It is a pleasure to look back on what Leader Bank has accomplished since we opened our doors more than 20 years ago, and I am incredibly excited about what we will accomplish together moving forward.

Sushil Tuli

Chairman & CEO