Reliance Bancshares (RLBS) in St. Louis has named a new chief executive for its bank unit.
Rick Sems will join the $980 million-asset Reliance Bank as president and CEO, it said Friday. He succeeds Allan Ivie, who will remain president and CEO of the parent company.
Sems will join Reliance from PNC Financial Services Group (PNC), where he has been president and CEO of Missouri banking since 2009.
In addition Tim Fogerty has been named senior lending officer at the bank and will lead its commercial lending operations, Reliance announced. He will also join the bank from PNC, where he is an executive vice president.
Sems and Fogerty will report to Thomas Brouster, the chairman of Reliance Bank.
Both Sems and Fogerty "bring to Reliance a wealth of experience having successfully managed PNC's growth in the Missouri market," Brouster said in a news release.
Brouster, a former consultant with Reliance who was named chairman this year, led a $31 million recapitalization of the bank in April. The former chairman of Reliance Bancshares resigned last year in a dispute over Brouster's hiring.