Banks change top executives all the time, but it's rare that one leaves for another venture and simultaneously gets recruited to the board of the bank he or she is leaving.
But that is what is happening at United Bancshares in Columbus Grove, Ohio, the $608 million-asset company said in a regulatory filing on Wednesday.
Anthony Eramo on Tuesday resigned as senior vice president and chief financial officer at United to "pursue another opportunity that will allow him geographic mobility," the filing said. However, Eramo was immediately appointed as a director of its bank unit, The Union Bank Co.
"He is expected to provide guidance from his nearly three decades of banking experience," the filing said. "The resignation was not due to any dispute or disagreement with the company or the bank on any matter relating to operations, policies, practices or accounting principles."
Daniel Lucke was named interim CFO starting April 1. Lucke has been controller since June, and he will keep that job and fill in as financial chief until the board finds a permanent CFO, the filing said. Lucke has 24 years of professional experience in various roles and is a certified public accountant.