QNB Corp. (QNBC) in Quakertown, Pa., is preparing to complete its previously announced succession plan.
David W. Freeman will become chief executive and president of the $930 million-asset company and CEO of QNB Bank on Wednesday, QNB said Friday in a filing with the Securities and Exchange Commission. Freeman, who is currently QNB Bank's president and chief operating officer, was also appointed as a director of the company and will continue to serve as a director of the bank.
Thomas J. Bisko announced in May he would retire as CEO of the company and bank on Dec. 31. QNB said at that time that Freeman would take over. Bisko will continue to serve as a director of the company and bank.
Freeman joined the bank in 2010 after running the Drovers Bank division of Fulton Financial (FULT) for eight years.