GSB Financial Corp. in Goshen, N.Y., the parent of Goshen Savings Bank, said four top officers, including its chief executive, will leave Dec. 31 under an early-termination program offering enhanced benefits.

Departing will be Clifford E. Kelsey Jr., president and CEO of the $132 million-asset company; Richard C. Durland, executive vice president and treasurer; Diane D. King, senior vice president; and Jenny M. Ford, vice president and secretary. They also hold those titles at the bank.

Mr. Kelsey will remain a director, but Mr. Durland will not.

Current officials will assume their duties.

Thomas V. Guarino, chairman, will also become president of the company and the bank.

Roland B. Peacock 3d, senior vice president and senior loan officer of the bank, will also become vice president at GSB Financial.

Stephen W. Dederick, the bank's senior vice president and chief financial officer, will also be CFO and treasurer of the holding company.

Barbara A. Carr, who is assistant vice president and senior mortgage officer at the bank, will also be secretary at the bank and its parent.

Mr. Peacock, Mr. Dederick, and Ms. Carr will constitute a management team running the company's day-to-day operations.

In all, GSB said, 11 of the 18 employees eligible for the previously announced early termination program decided to participate.

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