Community banking

In Brief: Mid-Southern's CEO Resigns

Published December 29, 2006, 2:00 a.m. EST

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Updated December 28, 2006, 5:16 p.m. EST

1 Min Read

Mid-Southern Mutual Holding Co. in Salem, Ind., has announced the resignation of Stephen H. Walls, its president and chief executive officer.

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The $159 million-asset company said Tuesday that Mr. Walls, 61, had decided to step down immediately for health reasons. He was also the president and CEO of the Mid-Southern Savings Bank subsidiary and has left those posts too.

Until a successor is found, Paul G. Allemeier, the chairman of the holding company's board, is to be interim president and CEO of the company and its bank. He was the bank's president and CEO from 1987 until his retirement in 1999 and also was president and CEO of the mutual holding company from its founding in 1998 until 1999.

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