Old Second Bancorp in Aurora, Ill., said Wednesday that its chief executive officer, William Skoglund, will retire at the end of this year. He will be succeeded by James Eccher, the company's chief operating officer.
Skoglund will continue to serve as chairman of the board of directors for the company, as well as its subsidiary Old Second National Bank.
Skoglund has been CEO of the $2 billion-asset company for the last 16 years. He has served as chairman of the board since 2004.
Skoglund's banking career began four decades ago as a teller at Old Second. He held several positions before being named President of Old Second National in 1992.
Eccher joined the company in 1990 and was appointed chief executive officer of Old Second National 11 years ago. Eccher has held the chief operating officer title at the holding company for the last seven years.
Old Second operates 28 branches in the Chicago region.