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Fentura in Michigan Announces Another Key Executive Departure

Another key executive is leaving Fentura Financial Inc. in Fenton, Mich.

The $301 million-asset company said in a regulatory filing Monday that Douglas Kelley would resign as its chief financial officer on Feb. 23 to "pursue other interests." Fentura also said that Kelley would not receive any payments under a severance agreement reached in July 2008.

The filing did not say whether Fentura had appointed a new chief financial officer.

In November, the company said that Forrest Shook had resigned as chairman. Shook was succeeded by Thomas P. McKenney, Fentura's vice chairman.

In October, Fentura disclosed in a regulatory filing that it would withhold 45% of a retirement payout to Daniel Wollschlager, who had been a chief lending officer at the bank level. Wollschlager can receive the full payout when Fentura emerges from its existing enforcement actions, the filing said at that time.




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