First National Bank and Trust in Newtown, Pa., has given its president the additional title of chief executive.
Daniel Schaffer became the $817 million-asset bank's CEO on Jan. 15. He will remain president and senior lending officer, the bank said Friday.
Schaffer, who joined the bank as a branch manager in 1999, succeeded John Parry, who will remain the bank's chairman.
"This is the next logical step in what has been a seamless transfer of authority," Parry told BucksCountyNews.com. "Dan took over as president of the bank in November of 2011 and he has excelled in his leadership role as the board knew he would."
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