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Top banking moves: VersaBank unit names COO; Johnson Bank names president

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Top banking moves: VersaBank unit names COO; Johnson Bank names president

S&P Global Market Intelligence presents a weekly news summary of executive management and board chair-level changes in the bank and thrift industry.

Oct. 16

DRT Cyber Inc., a VersaBank unit, appointed Gurpreet Sahota COO.

Sahota previously served as chief architect of cyber security at another VersaBank subsidiary, VersaVault Inc., which has been moved into DRT Cyber as a product offering.

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William Traynham, executive vice president and CFO of American National Bankshares Inc. and unit American National Bank and Trust Co., will retire effective Oct. 31 for medical reasons.

Jeffrey Farrar, executive vice president and COO, will assume the additional role of CFO and principal financial officer for the Danville, Va.-based company and the bank as of that date.

Oct. 15

Midland National Bank President Ronald Lang will continue with Arkansas City, Kan.-based Union State Bank as market president after the closing of the two banks' merger.

Newton, Kan.-based Midland National Bank is a unit of Midland Financial Corp., while Union State Bank is a subsidiary of Docking Bancshares Inc.

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In Minnesota, Bancommunity Service Corp. finalized its acquisition of State Bank of Belle Plaine, the Belle Plaine Herald reported. State Bank of Belle Plaine will merge into Bancommunity Service unit First National Bank Minnesota in April 2020.

Aside from the retirement of State Bank of Belle Plaine President and CEO Paul Gatz and Vice President Bill Gatz, all other employees will remain with the bank, according to the report.

Oct. 14

MutualBank President and COO Patrick Botts died, according to a report on The (Muncie, Ind.) Star Press.

The Muncie-based bank is a unit of MutualFirst Financial Inc.

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Orleans, Mass.-based Cape Cod Five Cents Savings Bank, a subsidiary of Cape Cod Five Mutual Co., named Stephen Johannessen CFO, according to a report on CapeCodToday.com.

Johannessen will retain his existing titles of senior vice president and treasurer.

Oct. 10

Dan Defnet has been appointed president of Wisconsin-based Johnson Bank, a unit of Johnson Financial Group Inc., according to a news release posted on Urban Milwaukee.