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Top banking moves: KeyCorp names successor to retiring CEO

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

Sept. 25

Glen Burnie, Md.-based Arundel Federal Savings Bank named Thomas Herpel president and COO. He succeeds Dave Costello as president, while Costello will keep the CEO title.

Sept. 24

Ernest Pinner will step down as executive chairman of both CenterState Bank Corp. and CenterState Bank NA on Jan. 1, 2020.

Pinner will remain nonexecutive chairman of the Winter Haven, Fla.-based company and the bank effective the same date.

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Olney, Md.-based Sandy Spring Bancorp Inc. agreed to acquire Rockville, Md.-based Revere Bank in an all-stock deal valued at $460.7 million. Revere Bank will be merged into Sandy Spring Bank under the terms of the deal.

Revere Bank Co-Presidents and CEOs Ken Cook and Drew Flott will join the surviving entity upon completion of the deal. Cook will become executive vice president, while Flott will be division executive. In Cook's new role, he will serve as the president of commercial banking.

Sept. 23

Mendenhall, Miss.-based Peoples Bank promoted Julie Harris to COO and Michael Tolleson to CFO.

The bank is a unit of Peoples Bancshares Inc.

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Athens, Ohio-based Hocking Valley Bank named Tammy Bobo president and CEO, The Athens Messenger reported. Bobo will replace Scott Nisley when he retires in early October.

The bank is a unit of Hocking Valley Bancshares Inc.

Sept. 20

Simmons First National Corp. named Robert Fehlman COO, effective Sept. 16.

Sept. 19

Ridgeland, Miss.-based BancPlus Corp. is acquiring in-state peer State Capital Corp. in a transaction valued at about $136.5 million in the aggregate, or $38.75 per State Capital share.

Upon deal completion, Kirk Graves, CEO of State Capital unit State Bank & Trust Co., will join the senior executive management team of BancPlus unit BankPlus.

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KeyCorp Chairman and CEO Beth Mooney will retire May 1, 2020.

The company's board appointed Christopher Gorman president and COO and a member of the board of directors, effective immediately. Gorman will succeed Mooney as chairman and CEO on May 1, 2020.

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Novato, Calif.-based Bank of Marin Bancorp has started a search for President and CEO Russell Colombo's successor.

The company said there is no timeline set for Colombo's retirement. He will remain president and CEO until a successor is identified.

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The Federal Home Loan Bank of Des Moines is terminating Executive Vice President and COO Dusan Stojanovic's employment without cause, effective Nov. 13.