Succession planning

Merchants Bank of Bangor in Pennsylvania has tapped its chief operating officer, Tracey Smith, to become chief executive next year.

The Bank of New Mexico said that its chairman and chief executive will switch roles at the beginning of next year.

Prudential Bancorp in Philadelphia has named Anthony Migliorino to the newly created job of chief operating officer.

IF Bancorp in Watseka, Ill., has named Linda Hamilton chief operating officer.

Old Point Financial in Hampton, Va., has selected its chairman's son as chief executive of Old Point National Bank of Phoebus.

Comerica has hired John Buchanan as its executive vice president of legal affairs.

First Banks in St. Louis has promoted an executive to chief operating officer and has made two additional promotions.

Bank of America shareholders should vote to separate the chief executive and chairman roles currently held by Brian Moynihan, CtW Investment Group said.

Poage Bankshares in Ashland, Ky., has promoted its bank president to chief executive, following the resignation of Ralph "Gene" Coffman.

Algonquin State Bank in Illinois has promoted several employees in a revamping of executive management.