Sterling in Michigan selects next CEO

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Sterling Bancorp in Southfield, Mich., will soon have a new CEO.

The $3.3 billion-asset company said in a press release Thursday that Tom Lopp will also become its chairman, effective Nov. 30. Lopp will succeed Gary Judd, who is retiring.

Lopp is Sterling's chief operating officer and chief financial officer. Steve Huber, CFO of Sterling's bank, will become the company's CFO and treasurer.

Since Judd became CEO in 2008, Sterling has grown from a $680 million-asset bank with 10 branches, primarily in one market, to 30 branches in four markets.

“It has been a privilege to work with such a great group of people during my time with the company and I am proud of what we have accomplished together,” Judd said in the release.

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