First Federal Bank President and CEO Clement Medley Jr. is set to retire Dec. 31, The (Dunn, N.C.) Daily Record reported.

Jeff Whittington will become president and CEO of the Dunn-based bank the following day. He has been serving as executive vice president and COO at the bank, which is majority-owned by First Federal Financial Corp.

Medley will keep his vice chairman post at the bank, according to the news story.