First Federal Bank of Wisconsin in Waukesha has a new chief executive lined up.

The $250 million-asset First Federal said in a press release Monday that Edward Schaefer will also become its president. He will succeed Gary Riley, who will remain the bank's chairman.

Schaefer's "many leadership roles and experience in the banking industry well suits him for his new position," Riley said.

Schaefer served as president and chief executive of the $700 million-asset Citizens Community Bancorp in Eau Claire, Wis., for the last six years.

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