Westbury Bancorp in West Bend, Wis., named a new president for the company and its bank subsidiary.

The $555 million-asset company said in a Tuesday press release that Greg Remus will succeed Ray Lipman, who is stepping down as president but will remain chief executive and board chairman.

Remus, who has more than 20 years of banking experience, will take over as president at the beginning of 2015. He will also continue to serve as chief operating officer of the company as well as senior vice president of lending for Westbury Bank.

"Greg's leadership is, and will continue to be, key to the company's strategic growth and improvement in its overall financial performance," Lipman said in the release.

Westbury operates nine branches in Wisconsin.

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