Farmers Bank in Frankfort, Ind., has named a new chief executive, after its previous leader died of cancer.

The $498 million-asset company hired Karen Gregerson as CEO and president, with the appointment to take effect in the next 30 days, according to a Friday news release.

Gregerson previously worked at the $1.9 billion-asset Star Financial Group in Fort Wayne, Ind., where she had held numerous positions, including chief financial officer. As CEO of Farmers, Gregerson will maintain her position as a director of the Federal Home Loan Bank of Indianapolis.

Farmers Bank's former CEO, Karen Miller, died in November. Three executives had filled the position on an interim basis since that time, Chad Kozuch, chief financial officer, said in an interview. Miller had been CEO since 2005.

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