Alliance Bank & Trust in Gastonia, N.C., has a new chief executive.

The $185 million-asset unit of AB&T Financial (ABTO) hired Don Harrison, a former executive at CommunityOne Bank, to also serve as its president, according to Wednesday's online edition of the Gastonia Gazette. The appointment requires regulatory approval.

It is a homecoming of sorts for Harrison, who was the president and CEO of First Gaston Bank, which eventually became part of CommunityOne.

Harrison succeeds Dan Ayscue, who resigned as Alliance's president in March, the report said. Wayne Shovelin, the bank's chairman, had been interim president and CEO.

Alliance lost $6.3 million last year. Its total risk-based capital ratio was 10.32% at Dec. 31, according to a regulatory filing.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.