First International Bank & Trust in North Dakota, RBB Bancorp in Los Angeles, Farmers and Merchants Bank in Indiana, The Savings Bank in Massachusetts and First Keystone in Pennsylvania announced top executive changes in the final month of 2024.
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At First International in ND, leadership all in the family
First International Bank & Trust in Watford City, North Dakota, did not have to look far to find its next leader.
The $5.4 billion-asset bank said in a press release that Peter Stenehjem became its CEO at the start of 2025. He succeeded his father, Stephen Stenehjem, and represents the fourth generation of the family to manage the bank, known locally as FIBT.
Stephen Stenehjem, who was CEO for 34 years, remains chairman.
“It is rare to see a business not only operate for more than a century but also remain owned and managed by the same family,” the elder Stenehjem said in the release. “For 114 years, our family has been deeply committed to serving our customers and communities with integrity and care.”
Peter Stenehjem was formerly the bank’s president. “It is a great honor to step into a role that’s been shaped by over a century of commitment, resilience and community focus,” he said in the release. “I am committed to upholding this legacy, with deep respect for FIBT’s history and focus on continued success in the years to come.”
RBB Bancorp in Los Angeles taps insider for top roles
RBB Bancorp in Los Angeles promoted from within for top jobs at the company and its Royal Business Bank unit.
The $4 billion-asset company said in a press release that, as of Jan.1, Johnny Lee, formerly president and chief banking officer of the bank subsidiary, became president of the company and CEO of the bank.
In addition, effective as of May 22, Lee will become CEO of the parent company. Lee has more than 35 years of banking experience.
“I am delighted to be part of the collaborative Royal Business Bank team. The company has demonstrated outstanding growth and performance while delivering shareholder value and serving the Asian American community and Asian-centric businesses,” Lee said in the release.
At the start of this year, David Morris resigned from his positions as CEO of the bank and president of the parent company. He will continue serving as RBB’s CEO until he retires on May 21.
“We wish to express our sincere appreciation for the tremendous work” Morris “completed for the company over the past 15 years, and we are grateful for his service and dedication,” Christina Kao, the company’s chair, said in the release.
Farmers and Merchants in Indiana names president
Farmers and Merchants Bank in Boswell, Indiana, has a new president.
The $200 million-asset bank said in a press release that Donald Blume succeeded Grant Whaley on Jan. 1. Whaley continues as chairman and CEO.
Blume had been an executive vice president at the bank and a director of its parent company, Farmers and Merchants Bancorp.
“I know Donald will be a great leader for our bank and help us continue to grow and serve our community,” Whaley said in the release. “Donald has been instrumental in helping grow our bank and leading our lending operation. He understands that in this position, the main responsibility is to serve others rather than being served, which he has already demonstrated with his lending team.”
The Savings Bank in Massachusetts gets new CEO
The Savings Bank in Wakefield, Massachusetts, appointed its next CEO.
The $834 million-asset bank said in a press release that Robert DiBella retired as president and CEO at the close of 2024. DiBella, who led the bank since 2016 and worked there for 37 years, was succeeded by Raichelle Kallery, formerly the bank’s chief operating officer.
DiBella’s presence “will be felt for years to come at both The Savings Bank and within the communities we serve,” Kallery said in the release.
“The Savings Bank has been a champion for hundreds of organizations that have been recipients of financial contributions and staff involvement,” she added. “It is that legacy that we continue to honor as we begin a new chapter.”
First Keystone in Pennsylvania says CEO plans to retire
First Keystone Corp. and its First Keystone Community Bank in Berwick, Pennsylvania, is on the brink of leadership change.
The $1.4 billion-asset company disclosed in a regulatory filing that Elaine Woodland intends to retire as president and CEO on Jan. 31.
The filing did not identify her successor, but the company said the board “has been engaged in a succession planning process.”
In an earlier regulatory filing, First Keystone announced that Chief Financial Officer Diane Rosler planned to retire at the end of 2024. Stacy Gordner was named interim CFO. Gordner has been controller of the bank since Sept. 15.