MB Bancorp in Forest Hill, Md., has lined up a new chief executive.
The $135 million-asset company said in a press release Friday that Phil Phillips will also become president on Oct. 25. MB said it had "parted ways" with Julia Newton, who had run the company since 2013.
Phillips "has deep lending contacts and experience, which will be a great asset to us as we seek to expand our business in our market," Lawrence Williams, MB's chairman, said in the release.
The company did not immediately return a call for comment.