Farmers and Merchants Bancshares in Hampstead, Md., is looking for its next CEO.
The $716 million-asset company said in a press release Thursday that James Bosley Jr. will also retire as president and the end of this year. Bosley, 60, joined the bank in 1983 and has been its president and CEO since 1995.
Bosley will remain on the board until his term ends in 2024.
Bosley “has helped to build the company into a high-performing, community-centric bank that is relationship-focused and aligned to the needs of all stakeholders” Bruce Schindler, the company’s chairman, said in the release.
Farmers said it had hired Kaplan Partners, an executive search firm, to initiate a formal search to identify a successor.