FB Corp. in St. Louis has revealed its succession plan.
The $6.1 billion-asset parent of First Bank said in a press release Tuesday that Tim Lathe will retire as its CEO in July 2019. Lathe has been CEO since 2013.
Shelley Seifert, who is the company’s chief operating officer, will succeed Lathe. Seifert, who will also become president, will take the helm in May.
“Since we opened our doors more than 100 years ago, First Bank has become known as the bank of choice for family-owned businesses, providing exceptional financial solutions that focus on our clients’ long-term goals and objectives,” Seifert said in the release.
Lathe “has done a fantastic job helping create our strategic vision and leading the company during his time here, and I am honored to follow in his footsteps,” Seifert added.
Siefert joined the company in 2014 as chief administrative officer; she became chief operating officer position a year later. Siefert was an executive vice president of integrations and operations at PNC Financial Services in Pittsburgh before joining First Bank.
Siefert "has been crucial to First Bank’s growth and overall success these past few years,” Lathe said. “She is an outstanding leader who understands our business, clients and communities, and she will take this company to even greater heights. Shelley is the best person for the job.”
