Richard Krauland will retire later this year as chief executive of NexTier Bank in Butler, Pa., after leading the institution through two mergers and name changes.
Krauland, 62, will remain CEO until his successor is hired, the $1.2 billion-asset company said in a Monday news release.
Krauland started his career in 1976 in financial analysis at Equibank in Pittsburgh. He was appointed CEO of Farmers National Bank of Kittanning in 2005 and helped navigated the institution through two mergers.
In 2008, Farmers National merged with Merchants Bancorp of Pennsylvania, the holding company for Merchants National Bank of Kittanning. Krauland remained president of the combined institution, which was renamed Farmers & Merchants Bank of Western Pennsylvania.
Farmers & Merchants then merged with NexTier Bank in 2014. The bank again changed its name, to NexTier, and Krauland retained his position as CEO.