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Top banking moves through Jan. 18


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Top banking moves through Jan. 18

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

Jan. 18

Bear State Bank President James Machen is now president and CEO of the bank and its parent, Bear State Financial Inc.

The promotion follows Mark McFatridge's resignation as president and CEO of the company.

Machen, who is 35 years old, joined the bank in 2011.

Jim Haley, president and CEO of Olympia, Wash.-based Thurston First Bank, a division of Tacoma, Wash.-based Commencement Bank, is set to retire.

On Nov. 2, 2016, Commencement Bank completed its acquisition of Thurston First Bank.

Haley was chief credit officer of Thurston First Bank from 2004 to 2008. Commencement Bank President and CEO Harald Russell will assume Haley's responsibilities.

Jan. 17

Bridgewater Savings Bank promoted Richard Fisher to executive vice president and COO from executive vice president and director of operations.

The bank is a unit of Bridgewater Financial MHC.

Once the deal between Tupelo, Miss.-based Renasant Corp. and Ridgeland, Miss.-based Metropolitan BancGroup Inc. is complete, Metropolitan President and CEO Curt Gabardi will join Renasant Bank as president and chief banking officer.

Kathryn Austin assumed the CEO post at Derby, Vt.-based Community Bancorp. and unit Community National Bank.

She has been with Community National Bank for more than 36 years, most recently as president and COO.

Recently retired CEO Stephen Marsh will remain with the company and the bank as chairman.

Edward Soccorso is resigning as executive vice president and chief strategy officer of Southern Pines, N.C.-based First Bancorp and unit First Bank.

CIT Group Inc. appointed Paul Tufaro executive vice president and chief compliance officer of the New York-based company.

Tufaro previously worked at Citigroup Inc. as global head of the corporate compliance group.

U.S. Bancorp President and COO Andrew Cecere will succeed Richard Davis as CEO, effective April 18. The company also elected Cecere to the company's board of directors. Davis will continue as executive chairman following the succession. Davis has served as CEO since December 2006 and chairman since December 2007.

The move is a part of a long-telegraphed succession plan.

Jan. 16

Denmark State Bank appointed David Engelbert chief credit officer.

He has been working in various positions in the financial industry for more than 19 years.

The Denmark, Wis.-based bank is a unit of Denmark Bancshares Inc.

Rollstone Bank & Trust promoted Christopher Seidlich to senior vice president and CFO, the Worcester (Mass.) Business Journal reported.

He has been working for the Fitchburg, Mass.-based bank for nine years.

Also, the Rollstone Bancorp MHC unit promoted Sandra Basler to chief accounting officer and treasurer. Basler has been with the bank for four decades.

Winona, Minn.-based Winona National Bank, a unit of Winona Banc Holding Co., named Matt Becker CFO.

Becker most recently was senior vice president and consulting services manager at United Bankers' Bank.

Jan. 13

Grand Marais State Bank President Michael LaVigne is set to retire effective Jan. 27, according to a report published by the Cook County (Minn.) News-Herald.

The Grand Marais, Minn.-based bank promoted Mark Youngdahl to president. Youngdahl, who joined the bank in 2007, previously served as vice president.

Also, the bank promoted Susan Roy to vice president and COO. Roy joined the bank in 1989.

Grand Marais State Bank is a unit of Central Trust Co.

Honesdale, Pa.-based Norwood Financial Corp. appointed William Davis Jr. chairman of the board and Andrew Forte vice chairman.

Davis and Forte will also hold the same posts on the board of unit Wayne Bank.

Davis has been a director since 1996, and served as president and CEO of Wayne Bank from 1996 to 2009. He was previously vice chairman.

Forte has been a director since 2007.

Jan. 12

PSB Holdings Inc. President and CEO Peter Knitt intends to retire in January 2018.

Knitt will remain in his current position until the search committee has selected a successor, and he will continue on the board for a period of time to ensure a smooth transition.

The Wausau, Wis.-based company expects to have the new CEO on board near the end of 2017, with the transition complete before the April 2018 annual shareholder meeting.

Once the deal between Youngstown, Ohio-based United Community Financial Corp. and Ohio Legacy Corp closes, Premier Bank & Trust President and CEO Rick Hull will become the Home Savings and Loan Co. of Youngstown regional president for Akron, Canton, Firelands and St. Clairsville, while Premier Executive Vice President, COO and Wealth Manager Denise Penz will oversee wealth management, including trust, private banking, retirement plan services, brokerage and investment services.

Irvine, Calif.-based Plaza Bancorp named Rick Sowers president of the company and its unit Plaza Bank.

Sowers, who previously was executive vice president and chief strategy officer, will replace Gene Galloway, who will remain the company's CEO.

Carpenter Bank Partners Inc. is Plaza Bancorp's ultimate parent.

Cheryl Cebula will step down as president and CEO of Portland, Ore.-based Albina Community Bank and leave the banking industry March 31, the Portland Business Journal reported.

Kat Taylor and Daniel Skaff, co-CEOs of Oakland, Calif.-based Beneficial State Bank — a sister company of Albina Community Bank — will assume some of Cebula's duties at Albina Community Bank.

Susan Campo will take on the position of president of Albina Community Bank, on top of her current role as CFO. Randall Leach, Beneficial State Bank's commercial banking president, will serve as Albina Community Bank's chief credit officer.

Beneficial State Bancorp Inc. owns 90.10% of Albina Community Bank, according to S&P Global Market Intelligence data. Beneficial State Foundation is the ultimate parent of Albina Community Bank and Beneficial State Bank.

After completing his term as a Florida state senator, Naples, Fla.-based First Florida Integrity Bank President Garrett Richter now also serves as the bank's CEO.

Richter is one of the founders of the bank, which was organized in June 2008.

Gary Tice — First Florida Integrity Bank's former chief executive, who is also the CEO and chairman of TGR Financial Inc. — continues his role as the bank's chairman.