Franklin Savings Bank in Franklin, N.H., has lured an executive from Florida to become its next chief financial officer.
The $426 million-asset bank said in a press release Wednesday that Brian Bozak will be responsible for investment portfolio management, financial reporting and analysis, budgeting, asset and liability management and internal control.
Bozak had recently been the CFO at Flagship Community Bank in Clearwater, Fla. The $105 million-asset Flagship is under pressure from Service Equity Partners, a Dallas private equity fund that shares 7.7% ownership of the bank's stock with another fund, to find a buyer. In March Flagship hired Kenneth Bailey, a former regional CFO with Synovus Financial Corp in Tampa, to succeed Bozak.
Bozak has also held posts in accounting and operations at other Florida institutions, including American Momentum Bank of Tampa, First Community Bank of America in Pinellas Park and Premier Community Bank of Clearwater.
At Franklin, Bozak succeeds Martha Lefebvre, who was named controller as part of a realignment of the bank's finance department, a spokeswoman said.
Bozak "was brought on board as part of some succession planning we were conducting," the spokeswoman added. "When we began our search for a candidate, we were looking for someone with a great deal of experience and skill in accounting as well as a CPA."
For Franklin, Bozak's hiring is the latest in a series of key executive moves. In December the bank tapped its chief operating officer, Ronald Magoon, as its president and eventual successor to CEO Jeffrey Savage. Magoon has been at Franklin since 1988.