Fall River-based Bank Five has named Anne P. Tangen as its new president. She replaces William R. Eccles Jr., who will retire this summer after five decades at BankFive.

Tangen was previously the chief operating officer and chief information officer at The Cooperative Bank of Cape Cod.

“We have confidence that Anne’s knowledge, expertise and experience make her the one best suited to lead BankFive into this new chapter,” Chairman Richard L. Lafrance said in a statement. “Anne is a Southcoast resident with strong ties to the community we serve.”

Tangen oversaw technology, security, project management, bank operations and customer assistance at The Coop. She previously worked at Fidelity Investments and State Street Bank.

“I am very excited to join BankFive,” Tangen said in the statement. “I look forward to leading a financial institution with a long-standing history of community focused banking and a dedication to serving people and businesses in the Southcoast.”

Tangen will take over as president on April 6 and also transition to the CEO role during the next few months before Eccles’ retirement. He was appointed president and CEO in 2011.

“Anne brings talent, expertise and strong leadership to BankFive,” Eccles said in the statement. “We are extremely fortunate to have her on our team, to continue to strengthen our commitment to providing financial solutions to the communities we serve.”