Platinum Bank in Oakdale, Minn., has a new CEO.
The $739.1 million-asset bank said that Nicole Sever will take on the role on Jan. 1. Sever, who was named president in January, will succeed David Faust.
“This announcement is the next step in a long-term, intentional succession plan,” the bank said in a LinkedIn post. Faust “will step away from his day-to-day responsibilities while remaining involved through his role on the holding company’s board.”