Pennsylvania bank begins CEO search after leader's abrupt departure
CB Financial Services in Carmichaels, Pa., is looking for its third CEO in three years.
The $1.3 billion-asset company said Wednesday that Patrick O’Brien had resigned, effective immediately. He also stepped down as CB’s president and as a director.
The parent of Community Bank said O’Brien’s departure had nothing to do with any disagreements. O’Brien will serve as a consultant to Pat McCune, who will fill in as interim president and CEO while CB looks for a permanent replacement.
McCune was the company’s CEO from 2005 to 2018.
O’Brien became CB’s president in 2017, adding the CEO title a year later when McCune retired. Previously, O’Brien was CEO of First Federal Savings Bank in Pennsylvania, which CB bought in 2014.
“The bank remains strong and secure, having a deep and experienced management team and having just announced its best ever quarterly financial performance,” McCune said in a press release. “I am confident Community Bank will continue its 119-year tradition of safety, excellence and growth.”
“I wish Community Bank and my many friends there the best of everything in the future,” O’Brien said. “I am pleased that my old friend and mentor Pat McCune will be available to take over the leadership.”