Central Bancshares in Muscatine, Iowa, has finalized the succession plan for its CEO. Central said in a press release that Dwayne Sieck had become president of its $1.2 billion-asset CBI Bank & Trust, succeeding Greg Kistler. Sieck will also succeed Kistler as Central’s president and CEO and CBI Bank’s CEO on Dec. 31. “Dwayne is uniquely qualified to succeed Greg, who has been our CEO since 2010,” Dan Stein, Central’s

The Federal Reserve has extended the deadline for commenting on its proposal to lower certain debit interchange fees.   The Fed said in a press release that it moved the deadline from Feb. 12 to May 12 “to allow the public more time to analyze the proposal and prepare their comments.” The Fed's proposal would reduce the fixed fee component from 21 cents to 14.4 cents and the variable component

NBT Bancorp in Norwich, N.Y., will soon have a new leader. The $13.8 billion-asset company said in a press release that Scott Kingsley will become its president and CEO on May 21. Kingsley, NBT’s chief financial officer, will succeed John Watt Jr. Watt, who has led NBT since 2016, will remain on the company’s board and will become vice chairman. He will serve as an adviser until the end of

Jack Henry in Monett, Mo., will promote an insider to become its new CEO. The company said in a press release that Greg Adelson will succeed David Foss on July 1. Foss, who is retiring, will remain executive chairman. Adelson, who joined the company in 2011, is president and chief operating officer. He is responsible for all business lines, technology, infrastructure and sales. "Greg is a strong, proven leader who

First Security Bank & Trust in Charles City, Iowa, has a new CEO. The $570 million-asset bank said in a press release that Brad Miller had also become its president. Miller, who had been chief financial officer, also joined the board. Miller succeeded Kurt Herbrechtsmeyer, who was elected chairman.

Synchrony has agreed to buy Ally Financial’s point-of-sale financing business. The companies said in a press release that the sale includes $2.2 billion of loan receivables. The portfolio includes relationships with roughly 2,500 merchant locations and supports more than 450,000 active borrowers. The deal is expected to close in the first quarter. The financial terms were not disclosed. "This deal represents a significant and exciting growth opportunity for Synchrony – it's a

Rivermark Community Credit Union in Beaverton, Ore., and Advantis Credit Union in Oregon City are planning to merge. The $1.4 billion-asset Rivermark and the $2 billion-asset Advantis expect their merger to close later this year quarter. The combined credit, which would retain the Rivermark name and be based in Oregon City, would have 19 branches and 180,000 members. The credit unions expect to retain all employees and branches. Jason Werts,

Somerville Bank in Eaton, Ohio, has a new CEO. The $255.8 million-asset bank said in a press release that David Douglas Ulrich had succeeded Paul Taylor, who retired. Ulrich, who remains the bank’s president, joined Somerville in 2009.