Josef Vich, senior vice president, commercial lending and correspondent banks, National Bank of Waterloo, Iowa, has been elected president and chief executive of the unit of Iowa National Bankshares.
He will succeed Thomas P. McDermott, who is resigning from the post and will become business development officer for the bank, effective Jan. 1.
Mr. McDermott has been active in banking in the Cedar Valley area for 23 years, and has been president of three area banks.
He will be the 1994 chairman of the Cedar Valley United Way campaign.
Erl A. Schmiesing continues as chairman of the Bank of Waterloo.
Mr. Vich spent several years in retail business, returning to Waterloo/Cedar Falls in 1983 to take a position with Peoples Bank and Trust, where he held several officer positions prior to joining National Bank of Waterloo.
In a related move, Iowa National Bankshares elected Robert S. Kahler to its board of directors and promoted him to executive vice president.
Mr. Kahler now has an expanded role in management of the bank holding company in addition to his current duties as chief financial officer and treasurer.
He joined the company in 1992, and has primary responsibility for its corporate financial aspects.
He has been instrumental in the company's nine bank acquisitions since 1982.