Citizens Community in Virginia Hires CFO

Citizens Community Bank (CZYB) in South Hill, Va., has hired a new chief financial officer.

Vera Primm began serving as CFO on May 1, the $161 million-asset company said Tuesday. She succeeded James Black, who was named president and chief executive in November.

Primm, who had been CFO at Peoples Bank of Virginia, will oversee all of Citizens Community's financial and operational functions, the company said.

Primm's "experience and hands-on approach will, no doubt, make a measurable contribution toward the long-term success of our shareholders and customers," Black said in a press release. "We welcome her as part of our senior management team."

Black had been CFO since 2007. He plans to liquidate and write down some of Citizens Community's problem assets this year to focus on growth, he told American Banker in December.