David Woodcock is set to retire as president of Spencer, Iowa-based Farmers Trust and Savings Bank, effective Dec. 31, according to the Spencer Daily Reporter.

The role will be assumed the following day by Mike Bryan, who is executive vice president and senior lender at the bank.

To help with the transition, Woodcock will continue as CEO and director through June 30, 2019.

The bank is a unit of Easter Enterprises Inc.