The board ofNew York-based Apple Bank for Savings,a unit of Apple Financial HoldingsInc., elected Steven Bush to succeed Alan Shamoon as the bank's chairman,president and CEO, according to a March 31 news release.

Bush will assumehis new role April 1. Bush, who joined Apple Bank in 1992, currently serves as executivevice president and COO of the bank.

Shamoon is retiringfrom Apple Bank after 25 years of service, with 22 of those years as chairman, presidentand CEO, according to the news release.