Cardinal Financial in Tysons Corner, Va., will soon have a new chief executive.
The $3.9 billion-asset company said in a press release Wednesday that Bernard Clineberg, 66, will step down as president and chief executive in January. Christopher Bergstrom, 55, Cardinal's chief credit officer and chief risk officer, will succeed Clineberg as acting president and CEO. Clineberg will remain the company's chairman.
Clineberg said in an interview that he is stepping aside because he "needed a break" from daily management of the company.
Cardinal will take the next three months to work on paperwork and "sort things out" tied to the management changes, he said. "Over the next 90 days all the boxes will be filled in."
Bergstrom, who has also been a regional president of Cardinal Bank since 2002, will be responsible for Cardinal's day-to-day management, while Clineberg "will focus on ensuring a seamless transition … along with corporate strategy and mergers and acquisitions," the release said.
Cardinal reported last month that its third-quarter net income rose 19% from a year earlier, to $11.2 million, as increased revenue offset higher noninterest expenses.
