John A. Carstens Jr., has been appointed president and chief executive of the new Libertyville (Ill.) Bank and Trust Co. and Edward Werdell was appointed executive vice president.
Both are directors of the bank, which is scheduled to open this fall. It will be the only full-service bank in Libertyville owned and operated by area residents.
Mr. Carstens spent 16 years with American National Bank and Trust Co., Chicago, serving most recently as president of American National Bank of Libertyville. During his career at American, Mr. Carstens held various positions - including commercial loan officer and vice president - and was responsible for the development of the bank's first three suburban branches in Des Plaines, Skokie, and Lisle.
His new position at Libertyville Bank and Trust will include management of day-to-day bank operations and integration of the bank into the community.
Mr. Werdell recently served as president and director of First Colonial Bank of Lake County in Vernon Hills. Prior to that, he was employed by American National Bank of Libertyville for several years, rising to vice president in the commercial loan department.
At Libertyville Bank, Mr. Werdell will oversee the loan department including commercial and consumer credit as well as business development.
George J. Eberhardt has been promoted to executive vice president of Indiana Federal Corp., the holding company for Indiana Federal Bank, Valparaiso.
Mr. Eberhardt is responsible for overseeing the day-to-day activities and investments for the parent company, as well as continuing to serve as chief financial officer for the bank.
Gary T. Brownlee has been hired as senior vice president and head of the mortgage banking group for Indiana Federal Bank. He responsible for all facets of Indiana Federal's mortgage activities and their integration with the bank's strategies.
He was formerly with the mortgage finance unit of General Electric Capital Corp.