Prudential Bancorp in Philadelphia is setting the stage for a new chief executive.

The $518 million-asset company said in a press release Wednesday that Thomas Vento will retire as president on July 1 and as chief executive at the end of September. He will be succeeded by Joseph Carrato, the company's chief financial officer.

Vento will remain the company's chairman.

"Although I have enjoyed meeting the challenges that have faced our industry and developing the strong bonds and relationships amongst my colleagues, it is the daily interaction with the Bank's employees I will miss most," Vento said in the release. "I am proud of the strong management team that we have developed, and Joe Corrato has the financial acumen, vision and leadership to enhance shareholder value through the development and implementation of a solid business plan."

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