By Nicholas M. Christ
President and Chief Executive Officer
BayCoast Bank
330 Swansea Mall Drive
Swansea, MA 02777
I would like to take a moment to reflect on the recent passing of Robert F. Stoico in January of 2025 and the tremendous contributions he made to our local SouthCoast community and to myself personally.
Bob served as the Chairman, President and Chief Executive Officer of FIRSTFED AMERICA BANCORP, INC. (FIRSTFED) for nearly 30 years. Under his leadership, the company grew from a small federal savings and loan institution to a multi-billion-dollar financial services company. Bob also created the Robert F. Stoico/FIRSTFED Charitable Foundation in 1998, which has contributed over $30 million to the communities of southeastern Massachusetts and Rhode Island since its inception. And while Bob’s professional success and philanthropic commitments continue to have a direct and significant impact, they do not completely capture the amazing influence he had as a community leader.
As Senior Vice President, Financial Officer for Citizens Union Savings Bank in Fall River in 1985, I had the pleasure, and good fortune, to work directly across the street from Bob and his FIRSTFED office. As graduates of Boston College, he and I immediately found common ground. And despite the fact that he and I worked at competing institutions, Bob quickly became mentor and friend. I was immediately struck by Bob’s intelligence, experience, professional insight, and his willingness to support the development of future community leaders at rival financial institutions. This exemplified Bob’s approach to leadership, to community banking, and to his commitment to improving the quality of life in our local community.
Bob did not view me as a competitor but rather as an ally in his mission to promote the community banking industry and improve our local community through charitable giving. Bob was keenly aware that community banks played an integral role in the success of local economies. He was also a staunch supporter of civic and community engagement, and his consistent involvement in advocacy for the community banking industry has created lasting, positive change. He chaired several non-profit capital campaigns, raising millions of dollars for local community projects and Bob had a unique ability to strategize and bring people and organizations together for the greater good.
While Bob became a Floridian in retirement, he was never really that far removed from me. For the past 13 years BayCoast Bank has owned and occupied the former FIRSTFED headquarters in Swansea and I sit in Bob’s old office daily – a direct association to Bob’s past guidance that I often think about and appreciate. Bob’s professional support and charitable mindset continue to reshape our local community and serve as a model for myself and BayCoast Bank’s organizational philosophy. Following his passing, I have been reflecting on just how influential Bob was in my life and how much I valued our professional and personal relationship. His legacy as successful executive and dedicated community leader is accurate and undeniable. I would like to ensure he is also remembered as a great man that has had, and will continue to have, a lasting impact on the SouthCoast.
Sincerely,
Nicholas M. Christ