The Peoples Savings Bank in Ohio, Central Bancshares in Iowa, Amalgamated Bank of Chicago, Glenwood State Bank in Minnesota, MutualOne Bank in Massachusetts, Mechanics Bank in California and Franklin Financial Services in Pennsylvania all announced leadership changes in recent weeks.
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The Peoples Savings Bank in Ohio gets first woman CEO
The Peoples Savings Bank of Urbana, Ohio, has its first-ever woman chief executive.
The $160 million-asset bank said in a press release that Marsha Bumgardner was named president and CEO, succeeding Brian Nicol.
Bumgardner, who was a senior vice president and has been at the bank for nearly 30 years, started her career at Peoples as a teller.
“I am truly honored that the board of directors and Brian Nicol have faith in me to lead the bank,” she said. “There are no words to express my gratitude to them and to the staff for their encouragement and support.
“I feel like I’ve grown up at TPSB,” she said. “Working my way through different departments has allowed me to learn all aspects of banking. It’s been an incredible journey.”
Central Bancshares in Iowa lands new leader
Central Bancshares in Muscatine, Iowa, promoted from within to name its CEO.
The parent of the $1.6 billion-asset CBI Bank & Trust said in a press release that Dwayne Sieck had become its president and CEO. Sieck was president of CBI Bank.
“I am honored to lead CBI Bank & Trust at such an exciting time,” Sieck said in the release. “I look forward to working closely with the board, leadership team, associates and clients to build on the company’s strong foundation and drive future growth.”
He succeeded Gregory Kistler, who retired at the end of 2024.
“Dwayne’s strategic vision, passion for innovation, and deep understanding of the financial industry make him the ideal leader to guide CBI Bank & Trust into its next chapter,” Daniel Stein, Central’s chairman, said in the release.
Amalgamated in Chicago gets new chief executive
Amalgamated Bank of Chicago looked within to find its new CEO.
The $1.2 billion-asset bank said on its website that Nick Weaver succeeded Robert Wrobel, who remains chairman.
Weaver became chief operating officer of the bank in 2023 and was named president the following year. The bank does business under the ABOC moniker.
President of Glenwood State Bank in Minnesota leaves for ICBA
The president of Glenwood State Bank in Glenwood, Minnesota, plans to leave the nearly $556 million-asset bank in February to join the Independent Community Bankers of America.
Peter Nelson will become the ICBA’s senior executive vice president of member engagement, according to a press release.
Nelson will remain on the bank’s board.
“As a lifelong community banker, I have a deep appreciation and respect for the vital role of local financial institutions in fostering economic well-being,” Nelson said. “Through responsible lending and community reinvestment, community banks help millions of Americans realize their financial goals every day. Working with the dedicated team at ICBA, which solely focuses on community banks, is an incredible opportunity. I look forward to leveraging my passion and experience to ensure the community banking model endures for generations to come.”
Kari Nelson was named interim president of Glenwood State Bank.
MutualOne Bank in Massachusetts fills top job
MutualOne Bank in Framingham, Massachusetts, has a new chief executive.
The $1.3 billion-asset bank said in a press release that Kristin Carvalho had become its CEO. She was president and chief operating officer. She retains the president title.
Carvalho has more than 25 years of banking experience. She succeeded Mark Haranas, who remains chairman.
“It has been a sincere privilege to serve as CEO of MutualOne Bank for over 16 years,” Haranas said in the release. “I’m proud of what we’ve been able to accomplish to help people and businesses in our community. I’m confident that Kristin’s strong leadership and experience will help ensure our future growth and success.”
Mechanics Bank in California makes interim CEO permanent top leader
Mechanics Bank in Walnut Creek, California, dropped “interim” from its CEO’s title.
The $17 billion-asset bank said in a press release that C.J. Johnson had become its permanent president and CEO. Formerly chief financial officer of the bank, Johnson had been interim president and CEO since February 2024.
“C.J. is a strong leader who knows our business, employees and clients well,” Carl Webb, the bank’s chairman, said in the release. “He appreciates Mechanics Bank’s 120-year record of financial stability and will continue to build on our reputation as a trusted financial partner in every community we serve across California.”
New CEO at Franklin Financial Services in Pennsylvania
Franklin Financial Services in Chambersburg, Pennsylvania, recruited its next chief executive.
The $2.2 billion-asset company disclosed in a regulatory filing that it selected Craig Best to succeed Timothy Henry as president and CEO. He will succeed the retiring Timothy Henry on April 29.
Best was previously CEO of Scranton, Pennsylvania-based Peoples Financial Services.