Security Federal in Aiken, S.C., made some key C-Suite changes.
The company said in a press release that J. Chris Verenes will retire as its CEO on July 10. Darrell Rains, the chief financial officer, will retire on the same date.
Rains joined the company’s board, while Verenes will become vice chairman.
“The company and the bank will continue to benefit from the knowledge and experience that Chris and Darrell bring as members of the Boards,” Timothy Simmons, Security Federal’s chairman, said in the release.
Philip Wahl II will succeed Verenes and CEO, while Nathan Crowe will become CFO. Wahl, who will remain president, will join the board. Crowe is the company’s chief accounting officer.