First Bank COO takes over the role of chairman and CEO

First Bank has announced the promotion of its chief operating officer Shelley Seifert to the position of chairman and chief executive officer.

In these new roles, Seifert will handle daily leadership responsibilities of chairman and CEO, as well as serve First Bank’s holding company FB Corporation as CEO and president. The bank said former CEO Tim Lathe notified to the board of directors last year of his plans to retire in July 2019.

First Bank appointed Seifert as executive vice president and chief administrative officer in October 2014. She was then elevated in August 2015 to COO where she managed retail banking, technology, operations, human resources, marketing and more.

Before First Bank, Seifert worked at PNC Financial Services as executive vice president of integrations and operations in Pittsburg.

“On behalf of the board of directors, I want to thank Tim for his dedication to First Bank,” said Chairman of the Board Michael Dierberg. “Tim and Shelley have been working together for years to strengthen our company by building a diverse team of experts and recruiting top talent to ensure we are well-positioned for growth.”

“Our 100-plus year history of independent, family ownership uniquely positions us to understand the needs and challenges of family-owned and other privately-held companies, and I aim to intensify our efforts to establish First Bank as their best and only option. I’m confident in our strategic vision and eager to see what is in store for First Bank as we begin this new chapter,” said Seifert.