Rick Sems and Tim Fogerty have left Frontenac, Mo.-basedReliance Bank, wherethey were, respectively, president and senior lender.
They joined Clayton, Mo.-based — a move RelianceChairman Tom Brouster called "a shock and disappointment," the St. Louis Business Journal reported May9.
Brouster will take on the CEO title, along with Sems'responsibilities. Chief Risk Officer and CFO Tod Stafford was given the addedtitle of president; Norm Toon was promoted to senior lender. Brouster alsocreated the Office of the Chairman, which includes Stafford, Toon, ViceChairman Gaines Dittrich, Reliance Bancshares Inc. CEO Allan Ivie and threeexecutive vice presidents.
Sems will serve First Banks as regional president of theMidwest, while Fogerty will serve as senior vice president and head ofspecialty lending, the publication disclosed May 10. Sems will succeed JoeAmbrose, who has been promoted to vice chairman.
Both Sems and Fogerty joined Reliance in 2013 from .