Merchants Bank of Bangor in Pennsylvania has hired the president of nearby bank as its new leader.

The $359 million-asset Merchants said in a press release Friday that Rocco Del Vecchio will succeed Anthony Biondi as chief executive on Aug. 22. Biondi is retiring after 12 years on the job.

Del Vecchio previously was vice chairman, president and chief operating officer of the $1.5 billion-asset Lafayette Ambassador Bank in Bethlehem, Pa., which he joined in 2000. Lafayette Ambassador is owned by Fulton Financial in Lancaster, Pa.

Merchants last year had named its chief operating officer, Tracey Smith, as CEO-in-waiting. However, Smith resigned earlier this year, a bank spokesman said.

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