The CEO of 1895 Bancorp of Wisconsin in Greenfield will soon become a part-time employee.
The $541 million-asset company disclosed in a regulatory filing Wednesday that Richard Hurd, who is also CEO of unit Pyramax Bank, will “reduce his day-to-day operational involvement in the operation of the bank” on Jan. 8.
The company agreed to decrease Hurd’s workload to about 20 hours per week and decrease his base salary to $140,000, among other things.
Separately, the company’s board extended the terms of the employment agreements with several other executives.