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Commencement Bank names president/COO

Commencement Bank named John Manolides president and COO. He will also join the Tacoma, Wash.-based bank's board in 2018.

Harald Russell will continue to operate as the bank's CEO. While Russell has no plans to retire in 2018, he felt it was time to start the succession process to ensure a smooth transition upon his retirement, according to a press release.

Manolides, who has been with the bank since inception in 2006, was its executive vice president and chief credit officer.

Also, the bank promoted Senior Vice President and CFO Thomas Dhamers to executive vice president and CFO.