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Minnesota-based First Resource Bank names next CEO

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Minnesota-based First Resource Bank names next CEO

Timothy Siegle will replace John Seidel as CEO of Lino Lakes, Minn.-based First Resource Bank, BankBeat reported.

Seidel "will work alongside" Siegle through a transition period that will end April 1, 2020, according to the report. Afterward, Seidel will become senior credit adviser and director of special assets and will continue as a director of the bank, which is a subsidiary of Ameri Financial Group Inc.

Siegle is set to resign as president and CEO of Cavalier, N.D.-based United Valley Bank, a unit of First Holding Co. of Cavalier Inc., on Dec. 31, according to the report. Siegle, who is the father of First Resource Bank President Aaron Siegle, is a director of First Resource Bank.