Gerald R. Francis, City Holding Co.'s president and chief executive officer, will leave the Charleston, W. Va., banking company Monday.
Mr. Francis, 60, said Wednesday that he is going to a private banking-related company in Indiana.
His successor at the $2.2 billion-asset company is chief financial officer Charles R. "Skip" Hageboeck, 42, whom Mr. Francis hired soon after joining it.
Mr. Francis, a turnaround specialist, took over in 2001. The company was then losing millions of dollars and operating under a regulatory enforcement order.
He promptly sold or shut down nonbank subsidiaries and two underperforming California banks and returned City to profitability. The speedy rebound won him American Banker's Community Banker of the Year Award in 2002.
In the fourth quarter City Holding announced its first deal in more than five years. It said it was buying the $340 million-asset Classic Bancshares Inc. of Ashland, Ky., for $77 million.
It also reported record earnings of $46.3 million for 2004.
