Tim Lathe will retire next year as CEO of FB Corporation, the holding company of First Bank, and will be succeeded by current COO, Shelley Seifert.
In conjunction with this move, the FB board of directors promoted Seifert to president of the company.
Lathe informed the board of directors earlier this year that he will retire in July 2019. Seifert will take over responsibilities as CEO in May 2019.
“Since we opened our doors more than 100 years ago, First Bank has become known as the bank of choice for family-owned businesses, providing exceptional financial solutions that focus on our clients’ long-term goals and objectives,” said Seifert. “Tim has done a fantastic job helping create our strategic vision and leading the company during his time here, and I am honored to follow in his footsteps.”
Seifert joined First Bank in October 2014 as executive vice president and chief administrative officer and was promoted to COO in August 2015. Her current responsibilities include overseeing retail banking, technology, operations, human resources and marketing, among others.
Prior to her position at First Bank, Seifert served as executive vice president of integrations and operations at PNC Financial Services in Pittsburgh.
“Shelley has been crucial to First Bank’s growth and overall success these past few years,” said Lathe. “She is an outstanding leader who understands our business, clients and communities, and she will take this company to even greater heights. Shelley is the best person for the job.”
Lathe was hired as the bank’s president and CEO in April 2013. Under Lathe’s guidance, First Bank strengthened its executive leadership team with strategic acquisitions including Seifert, Executive Vice President of Commercial Banking Rick Sems, Director of Wealth Management Gene Todd and others.
