Virginia bank's succession plan has two stages
Burke & Herbert Bank in Alexandria, Va., is taking a two-step approach to its CEO transition.
The $3 billion-asset bank said in a press release last week that W. Scott McSween, its president and chief operating officer, will succeed E. Hunt Burke as CEO on June 3. Burke, who is retiring, will remain chairman.
McSween plans to retire at the end of this year. He will be succeeded by David Boyle, who was recently named the bank's president and chief operating officer.
Boyle previously served as chief financial officer at the $2 billion-asset Orrstown Financial in Shippensburg, Pa. Before that, he was the chief performance officer at PNC Financial Services Group in Pittsburgh.
"A proven financial leader with community banking experience, David will play a critical role in ensuring Burke & Herbert ... continues to grow and thrive for many years to come," Burke said in the release.