First National Bank of Orwell in Vermont has named Bryan Young chief executive.

Young, 38, will succeed his father, Mark Young, as CEO of the $56.1 million-asset bank beginning Jan. 1. Mark Young, 62, will retain his roles as president, loan officer and a member of the board of directors. Mark Young has been CEO since 1979.

Bryan Young is currently chief operating officer. He joined the bank in July 2005 and became COO about five years ago. The bank is not looking to hire a new COO, Bryan Young said in a phone interview. However, the bank may use the title again, in the case of another executive leadership transition.

Young's promotion to CEO makes him the fifth generation of his family to lead First National. The bank was established in 1863 and has two branches in Orwell and Shoreham, Vt.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.