Cheviot Financial in Cincinnati will soon have a new chief executive.
The $571 million-asset company said in a press release Tuesday that Thomas Linneman will also retire as chairman and president at the end of this week. Mark Reitzes, a Cheviot director and former regional president for Huntington Bancshares, was named Linneman's interim successor.
Linneman has been Cheviot's president and chief executive for the last 16 years. He joined the company in 1980 as controller and was promoted to chief operating officer eight years later. While Linneman was CEO, Cheviot converted from a mutual savings association to a publicly owned company.
Cheviot also reported Tuesday that its fourth-quarter profit more than doubled from a year earlier, to $836,000, on lower expenses, a smaller loan-loss provision and slight higher net interest income.