State Bank Financial in Atlanta will soon have a new CEO.
The $4.2 billion-asset company said in a press release Thursday that Joseph Evans is stepping down as CEO on June 1.
Evans, 67, will remain chairman under a three-year employment agreement, focusing on board governance, strategic planning and corporate development.
State Bank said Thomas Wiley Jr., the president and CEO of its bank, will succeed Evans. Wiley was among the investors who joined Evans in recapitalizing State Bank in 2009.
"Succession planning has been one of my highest priorities for a long time,” Evans said in the release. “My goal has been to ultimately work myself out of a job. Tom is doing a tremendous job running the bank and is supported by an incredibly talented team that was built with my succession in mind.”
Wiley’s background includes CEO stints at Coastal Bank from 2007 to 2012 and Flag Bank from 2002 to 2006.
State Bank separately reported that its first-quarter earnings rose 6.7% from a year earlier to $11.6 million. Net interest income increased 20% to $44 million, while noninterest expenses rose by 19.6% to $34.6 million.