The chief executive of Summit Bank of Eugene, Ore., will step down to lead the U.S. Small Business Administration's loan programs.
Ann Mehlum will serve as associate administrator of the SBA Office of Capital Access, the $142 million-asset bank announced Tuesday. Craig Wanichek, Summit's president, will become CEO when Mehlum steps down on Aug. 5.
In her new role at the SBA, Mehlum will oversee more than $100 billion in lending to entrepreneurs and business owners. She will report to SBA chief Karen Mills.
"I hope to see more capital invested in more small businesses, which will create more jobs and careers," Mehlum said in a press release. "I have absolute confidence in [Wanichek's] ability to move Summit forward safely and successfully."
Mehlum will succeed Jeanne Hulit at the SBA. Hulit, a former banker at Citizens Bank and KeyCorp's KeyBank, has been with the agency since 2009. Representatives for the agency were not immediately available to discuss Hulit's plans.
Karen Mills also plans to leave the SBA as soon as her successor is confirmed. Mills has led the agency since 2009.