Susquehanna Bancshares, Lititz, Pa., has reassigned some top executives.

Richard M. Cloney, who was president of its lead subsidiary, Susquehanna Bancshares South Inc., has moved up to chairman of the unit.

He remains vice president and secretary of the parent and will help its chairman, Robert S. Bolinger, with acquisitions and corporate functions.

Susquehanna South was formed in 1994 as a holding company for three Maryland thrifts - Atlantic Federal Savings Bank, Fairfax Savings, and Reisterstown Federal Savings Bank.

William J. Reuter succeeded Mr. Cloney as president of Susquehanna South. Mr. Reuter, also a Susquehanna Bancshares vice president, remains chairman, president, and chief executive of its Farmers and Merchants Bank and Trust in Hagerstown, Md.

James G. Pierne, executive vice president at Farmers and Merchants, was also elected to its board. He will assist Mr. Reuter with daily operations.

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