North American Savings Bank in Grandview, Mo., has a new chief executive.

The $1.2 billion-asset unit of NASB Financial (NASB) said late Tuesday it has named Paul Thomas to the post.

He succeeds David Hancock, who remains the bank's chairman.

Thomas, who has served as North American Savings' chief credit officer since 2003, previously served as chief executive of Community Bank of Excelsior Springs.

Thomas "brings tremendous leadership and experience, and I'm looking forward to actively supporting him in [the bank's] future growth," Hancock said in a press release.

North American has eight branches throughout the Kansas City metropolitan area.

In November NASB Financial entered into a written agreement with the Federal Reserve Board that bars it from declaring or paying dividends, repurchasing stock or incurring debt without Fed approval.

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