United Bancorp in Martins Ferry, Ohio, said its chief executive is stepping aside and that his son will take over day-to-day management.
The $400 million-asset company said in a regulatory filing Thursday that James Everson would retire as chairman and CEO at its April 16 annual meeting. Everson had reached the company's mandatory retirement age for directors.
United said that Scott Everson will succeed his father as CEO of the company and chairman of Citizens Savings Bank. The younger Everson, who is on United's board, is already president and CEO of the bank. Richard Riesbeck will become the company's chairman.
The company also announced that it would not fill the elder Everson's position on the board, shrinking the size of that body to seven directors.
