James K. Sperry, president of Fulton Bank, Lancaster, Pa., was promoted to chairman and chief executive officer. He is to assume the posts at yearend.
He will succeed Robert D. Garner, who will remain chairman of the holding company, Fulton Financial Corp.
Mr. Sperry will continue as an executive vice president and director of Fulton Financial.
R. Scott Smith Jr. is to be Mr. Sperry's successor as Futon Bank's president. He will also be chief operating officer and a member of the bank's board of directors.
Rufus A. Fulton, president of the parent company, said the promotions of Mr. Sperry and Mr. Smith complete executive changes initiated by Mr. Garner's announcement that he would step down Dec. 31 as CEO of the bank and holding company.
As previously reported, Mr. Fulton will become the holding company's CEO.
