Firstrust Bank in Conshohocken, Pa., will soon have a new CEO.
The $5 billion-asset bank said in a press release Thursday that Timothy Abell, its president, will become CEO on Jan. 1. He will succeed Richard Green, who will remain executive chairman.
Green will continue to own the bank his grandfather founded in 1934 and will focus more on growth initiatives and the Green Family Foundation.
Firstrust unit Hatch Bank focuses on fintechs.
Abell “is an exceptional banker and charismatic leader who lives and breathes the Firstrust culture and our commitment to our customers and the community,” Green said in the release.
Abell, who will remain president, has held that title since 2007. He joined the board in 2016.
“Firstrust is a special bank with a professional, caring and motivated team that is passionate about our customers and their success, and the well-being of the communities we serve,” Abell said in the release.