First Banks in Clayton, Mo., has announced that Chairman James Dierberg's son will succeed him, marking the fourth generation of the Dierberg family to lead the company.
The $5.9 billion-asset company said Michael Dierberg will become chairman on Jan. 1. The younger Dierberg is currently vice chairman of both the holding company and First Bank.
"My father's exceptional leadership of First Bank spans the course of five decades," Michael Dierberg said in a Nov. 2 press release. "He helped build the bank from a single branch in Creve Coeur, Missouri, to over 100 locations today spanning several states."
Calls to First Banks were not returned.
Michael Dierberg has been vice chairman since 2012. He has previously worked as First Banks' general counsel, and has also been an attorney for the Office of the Comptroller of the Currency and with the Justice Department. Michael Dierberg was 44 in March, at the time of First Banks' annual report.
James Dierberg, who was 77 in March, has been a director since 1979, was president from 1979 to 1992 and again from 1994 to 1999, and has been chairman since 1988. He will remain on the board after his retirement as chairman.
The announcement is the latest of several moves in the executive ranks at First Banks. In August, Shelley Seifert was named to the newly created position of chief operating officer; Lisa Vansickle was promoted from chief financial officer to both chief administrative officer and chief risk officer; and Michael Normile was promoted from controller to CFO.
In February, Terrance McCarthy retired as president and chief executive and stepped down from the board. He was replaced by Timothy Lathe.