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Top banking moves: Former BNY Mellon CEO to assume top post at Wells Fargo

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. 2

Kentucky-based Cecilian Bank and Hartland Financial Inc., the parent company of Hartford, Ky.-based Citizens Bank, intend to merge, The (Elizabethtown, Ky.) News-Enterprise reported.

David Hawkins, Hartland Financial's chairman and Citizens Bank's president and CEO, will join the board of Cecilian Bank at the closing of the deal.

Cecilian Bank is a unit of First Cecilian Bancorp Inc.

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Orleans, Mass.-based Cape Cod Five Cents Savings Bank promoted Bert Talerman and Matt Burke to co-presidents. Dorothy Savarese will continue as the bank's CEO and chair.

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Marlborough, Mass.-based Main Street Bank appointed Paul Musgrove CFO, the Worcester (Mass.) Business Journal reported.

Musgrove most recently was CFO of Residential Mortgage Services Inc.

Oct. 1

Rick Anderson, president and COO of People's Intermountain Bank, intends to retire, effective Feb. 1, 2020.

With Anderson's retirement, People's Utah Bancorp realigned reporting relationships with Len Williams, the company's president and CEO, who will assume the title of president of the bank.

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Hampton, Va.-based Old Point National Bank of Phoebus named Susan Ralston executive vice president and COO.

Ralston's career includes serving as COO and senior vice president for the Virginia division of Dollar Bank Federal Savings Bank.

Old Point National Bank is a unit of Old Point Financial Corp.

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Sparta, Mich.-based ChoiceOne Financial Services Inc. completed its acquisition of in-state peer County Bank Corp.

ChoiceOne Financial Services CEO Kelly Potes will become CEO of the combined company and president and CEO of ChoiceOne Bank, while ChoiceOne Financial Services Chairman Paul Johnson will become chairman of the combined company and ChoiceOne Bank. County Bank President and COO Michael Burke Jr. will become president and CEO of Lakestone Bank & Trust and president of the combined company.

County Bank Chairman Bruce Cady will become chairman of Lakestone Bank & Trust, and he will retire from that role Dec. 31. He will also become vice chairman of the combined company.

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The Texas Department of Banking and the Federal Deposit Insurance Corp. gave conditional approval to Gulf Capital Bank to open Houston's first de novo bank in the market in more than a decade.

The bank's management team includes Chairman and CEO Ed Jones, President and Chief Lending Officer Jonathan Homeyer and CFO and COO Noreen Skelly.

Jones and Homeyer are former commercial banking managers at JPMorgan Chase & Co. and Wells Fargo & Co., respectively. Skelly was CFO of Veritex Holdings Inc.

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In Mississippi, Citizens Holding Co., the parent company of Citizens Bank of Philadelphia, completed its acquisition of Charter Bank, effective Oct. 1.

In connection with the deal's completion, former Charter Bank President and CEO Gregory Cronin was appointed to the board of Citizens Holding and that of Citizens Bank, effective Oct. 1.

Sept. 30

Kentucky Bancshares Inc.'s board appointed B. Proctor Caudill Jr. to succeed Buckner Woodford IV as chairman when Woodford steps down from the post in December.

Woodford's resignation as a director and chairman of the board is effective Dec. 31. Caudill is a current director of the Paris, Ky.-based company.

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Tacoma, Wash.-based Columbia Banking System Inc. and unit Columbia Bank President and CEO Hadley Robbins will retire Dec. 31.

COO Clint Stein will succeed Robbins as CEO. Stein will transition to the new role on Jan. 1, 2020.

Chief Consumer Banking Officer Chris Merrywell will succeed Stein as COO.

Sept. 27

Wells Fargo & Co. named Charles Scharf its president and CEO, effective Oct. 21.

Scharf was the chairman and CEO of Bank of New York Mellon Corp.

Wells Fargo had been operating without a permanent CEO since March when Timothy Sloan stepped down. In March, the board appointed C. Allen Parker interim CEO and president. Parker will continue to serve in these roles until Scharf joins the company. Parker will support the transition as a key member of the company's leadership team and general counsel.

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Mena, Ark.-based Union Bankshares Inc. appointed Jarrod Yarnell CEO, The Mena Star reported.

In addition, Kevin Williams was named president of Union Bankshares unit Union Bank of Mena.

Yarnell and Williams will replace Philip Hensley in their new positions. Hensley will be a senior adviser to Union Bank of Mena.

Yarnell will keep his post as president of Union Bank of Mena's sister bank, First National Bank at Paris.

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Peoples Exchange Bank appointed Shawn King COO, according to The (Lexington, Ky.) Lane Report.

King's career in banking and financial services includes management roles in credit risk and administration.

The Winchester, Ky.-based bank is a unit of Genbeach Co. Inc.

Sept. 26

Gerard Banmiller, president and CEO of 1st Colonial Bancorp Inc. and its unit 1st Colonial Community Bank, intends to retire in the fourth quarter of 2020.

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Milledgeville, Ga.-based Exchange Bankshares Inc. President and CEO Henry Pope Jr. died Sept. 22, according to an online obituary.

Pope joined Exchange Bank in 1973 and was named to its board in 1992. He held various roles in the parent company, including corporate and board secretary, vice president and secretary.