Shelley Seifert, former chief operating officer of First Bank, has taken over the position of chairman and CEO of First Bank. She succeeds Tim Lathe, who is retiring from his position as CEO in July.

Seifert will assume day-to-day leadership responsibilities and will also serve as CEO and president of FB Corporation, the holding company of First Bank.

“Tim has done an outstanding job establishing a strong foundation of growth for First Bank and making substantial progress solidifying us as the bank of choice for family-owned businesses,” said Seifert. “I am honored to be his successor to continue to develop comprehensive solutions that help our clients achieve their long-term financial goals.”

Seifert joined First Bank in October 2014 as executive vice president and chief administrative officer. In August 2015, she was promoted to COO where she oversaw retail banking, technology, operations, human resources, marketing and more. Prior to her time at First Bank, Seifert served as executive vice president of integrations and operations at PNC Financial Services in Pittsburgh.

“On behalf of the board of directors, I want to thank Tim for his dedication to First Bank,” said Michael Dierberg, chairman of the board. “Tim and Shelley have been working together for years to strengthen our company by building a diverse team of experts and recruiting top talent to ensure we are well-positioned for growth.”

Lathe will continue to work with Seifert over the next few months to ensure a smooth transition.

“Our 100-plus year history of independent, family ownership uniquely positions us to understand the needs and challenges of family-owned and other privately-held companies, and I aim to intensify our efforts to establish First Bank as their best and only option,” said Seifert. “I’m confident in our strategic vision and eager to see what is in store for First Bank as we begin this new chapter.”

A family-owned business through four generations, First Bank offers stability and experience, along with the long-term planning that helps businesses and the communities grow and thrive. The bank has $6.1 billion in assets and 94 locations throughout California, Missouri and Illinois.