Citizens Community Bancorp in Eau Claire, Wis., has named a new chief executive.

The $602 million-asset company said in a press release Friday that Stephen Bianchi was tapped to replace Edward Schaefer, who resigned in May.

Bianchi will also serve as president; he will also join the company's board.

Bianchi previously served as president and CEO at Home Federal Bank in Sioux Falls, S.D.

Bianchi worked in various management and executive posts in Minnesota for Wells Fargo before leaving in 2006 to became a regional president and commercial banking manager at Associated Bank, according to his LinkedIn profile.

“We have identified a CEO who has demonstrated the ability to successfully transform a community bank with a very low level of earnings to very competitive levels and who can better articulate our strategic direction and financial performance to the investment community, our employees and the communities we serve,” Richard McHugh, Citizens Community's chairman, said in the release.

When Schaefer announced his resignation, Citizens Community announced that it hired investment bank FIG Partners to help the company explore strategic and financial opportunities aimed at maximizing shareholder value.

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