1st Summit Bancorp of Johnstown, Inc. Announces Resignation of President and Chief Executive Officer and Appointment of New President and Chief Executive Officer
1st Summit Bancorp (OTC Pink: FSMK) announced significant leadership changes effective March 28, 2025. Eric Renner has voluntarily resigned as President, CEO, and Director of both the company and bank due to personal reasons. Renner had served as Bank CEO since June 2020 and Company CEO since January 2023.
Allison Johnson, current EVP, CFO & Chief Risk Officer, will succeed Renner as President and CEO while retaining her existing roles. Johnson brings over 17 years of banking experience, including expertise in restructurings, process development, IPOs, and M&A. She previously held CFO positions at Mid Penn Bancorp and Spirit of Texas Bancorp.
Additionally, John W. McCall has stepped down as Chairman but will remain on the board. Rex W. McQuaide has been appointed as the new Chairman of both the company and bank. 1st Summit Bank operates 17 community offices across five Pennsylvania counties.
1st Summit Bancorp (OTC Pink: FSMK) ha annunciato significativi cambiamenti nella leadership a partire dal 28 marzo 2025. Eric Renner si è dimesso volontariamente dalla carica di Presidente, CEO e Direttore sia della società che della banca per motivi personali. Renner ha ricoperto il ruolo di CEO della banca da giugno 2020 e di CEO della società da gennaio 2023.
Allison Johnson, attuale EVP, CFO e Chief Risk Officer, succederà a Renner come Presidente e CEO mantenendo i suoi ruoli attuali. Johnson porta con sé oltre 17 anni di esperienza nel settore bancario, inclusa una vasta esperienza in ristrutturazioni, sviluppo di processi, IPO e fusioni e acquisizioni. In precedenza ha ricoperto ruoli di CFO presso Mid Penn Bancorp e Spirit of Texas Bancorp.
Inoltre, John W. McCall si è dimesso dalla carica di Presidente, ma rimarrà nel consiglio. Rex W. McQuaide è stato nominato nuovo Presidente sia della società che della banca. 1st Summit Bank opera in 17 uffici comunitari distribuiti in cinque contee della Pennsylvania.
1st Summit Bancorp (OTC Pink: FSMK) anunció cambios significativos en el liderazgo con efecto a partir del 28 de marzo de 2025. Eric Renner ha renunciado voluntariamente como Presidente, CEO y Director tanto de la empresa como del banco por razones personales. Renner había sido CEO del banco desde junio de 2020 y CEO de la empresa desde enero de 2023.
Allison Johnson, actual EVP, CFO y Chief Risk Officer, sucederá a Renner como Presidente y CEO, manteniendo sus roles existentes. Johnson aporta más de 17 años de experiencia bancaria, incluyendo experiencia en reestructuraciones, desarrollo de procesos, OPIs y fusiones y adquisiciones. Anteriormente ocupó cargos de CFO en Mid Penn Bancorp y Spirit of Texas Bancorp.
Además, John W. McCall ha renunciado como Presidente, pero permanecerá en la junta. Rex W. McQuaide ha sido nombrado nuevo Presidente tanto de la empresa como del banco. 1st Summit Bank opera 17 oficinas comunitarias en cinco condados de Pennsylvania.
1st Summit Bancorp (OTC Pink: FSMK)는 2025년 3월 28일부터 시행되는 중요한 리더십 변화를 발표했습니다. Eric Renner는 개인적인 사유로 회사와 은행의 대통령, CEO 및 이사직에서 자발적으로 사임했습니다. Renner는 2020년 6월부터 은행의 CEO로, 2023년 1월부터 회사의 CEO로 재직해왔습니다.
Allison Johnson, 현재 EVP, CFO 및 Chief Risk Officer는 Renner의 후임으로 대통령 및 CEO로 취임하며 기존 역할을 유지합니다. Johnson은 17년 이상의 은행 경험을 보유하고 있으며, 구조조정, 프로세스 개발, IPO 및 M&A에 대한 전문성을 가지고 있습니다. 그녀는 이전에 Mid Penn Bancorp와 Spirit of Texas Bancorp에서 CFO 직책을 맡았습니다.
또한, John W. McCall은 의장직에서 물러났지만 이사회에 남아 있습니다. Rex W. McQuaide는 회사와 은행의 새로운 의장으로 임명되었습니다. 1st Summit Bank는 펜실베이니아의 5개 카운티에 걸쳐 17개의 커뮤니티 사무소를 운영하고 있습니다.
1st Summit Bancorp (OTC Pink: FSMK) a annoncé des changements significatifs dans sa direction à compter du 28 mars 2025. Eric Renner a démissionné volontairement de ses fonctions de Président, CEO et Directeur de l'entreprise et de la banque pour des raisons personnelles. Renner a été CEO de la banque depuis juin 2020 et CEO de l'entreprise depuis janvier 2023.
Allison Johnson, actuelle EVP, CFO et Chief Risk Officer, succédera à Renner en tant que Présidente et CEO tout en conservant ses rôles existants. Johnson apporte plus de 17 ans d'expérience bancaire, y compris une expertise en restructurations, développement de processus, IPO et fusions et acquisitions. Elle a précédemment occupé des postes de CFO chez Mid Penn Bancorp et Spirit of Texas Bancorp.
De plus, John W. McCall a démissionné de son poste de Président, mais restera au conseil d'administration. Rex W. McQuaide a été nommé nouveau Président de l'entreprise et de la banque. La 1st Summit Bank opère 17 bureaux communautaires dans cinq comtés de Pennsylvanie.
1st Summit Bancorp (OTC Pink: FSMK) gab am 28. März 2025 bedeutende Änderungen in der Führung bekannt. Eric Renner hat freiwillig als Präsident, CEO und Direktor sowohl des Unternehmens als auch der Bank aus persönlichen Gründen zurückgetreten. Renner war seit Juni 2020 CEO der Bank und seit Januar 2023 CEO des Unternehmens.
Allison Johnson, derzeitige EVP, CFO und Chief Risk Officer, wird Renner als Präsidentin und CEO nachfolgen und dabei ihre bestehenden Rollen beibehalten. Johnson bringt über 17 Jahre Erfahrung im Bankwesen mit, einschließlich Fachwissen in Umstrukturierungen, Prozessentwicklung, IPOs und Fusionen und Übernahmen. Zuvor hatte sie CFO-Positionen bei Mid Penn Bancorp und Spirit of Texas Bancorp inne.
Zusätzlich hat John W. McCall als Vorsitzender zurückgetreten, wird jedoch im Vorstand bleiben. Rex W. McQuaide wurde zum neuen Vorsitzenden sowohl des Unternehmens als auch der Bank ernannt. Die 1st Summit Bank betreibt 17 Gemeinschaftsbüros in fünf Landkreisen in Pennsylvania.
- New CEO brings extensive experience in banking restructurings, IPOs, and M&A
- Smooth leadership transition with internal promotion of current CFO
- Continuity maintained with CFO/CRO retaining existing responsibilities
- Unexpected CEO departure could create short-term uncertainty
- Multiple leadership changes (CEO and Chairman) occurring simultaneously
- New CEO must manage multiple important roles (CEO, CFO, and CRO) simultaneously
In making the announcement, Rex W. McQuaide, Esq., Chairman of the Board, said, “We appreciate Eric’s dedication and hard work on behalf of the Company and the Bank over the past six years. We wish Eric nothing but the best in his future endeavors.”
“I am proud to have been the leader of 1st Summit Bancorp of
Simultaneously, the Company also announced the appointment of Allison Johnson, the current EVP & Chief Financial Officer & Chief Risk Officer of the Company and the Bank, to succeed Mr. Renner as President and Chief Executive Officer of the Company and the Bank effective March 28, 2025. Ms. Johnson will also continue to serve as the Chief Financial Officer and Chief Risk Officer of the Company and the Bank. Ms. Johnson has over seventeen years of banking experience and has experience in a leadership role leading banks through restructurings, enhanced process development, initial public offerings, and mergers and acquisitions. Ms. Johnson has served as the Chief Financial Officer of 1st Summit Bancorp of Johnstown for the past year. She formerly held the same position at Mid Penn Bancorp in
“We are lucky to have someone as strong and capable as Ms. Johnson to step up and lead this organization. Ms. Johnson has the full support of the Board to continue to lead the organization and meet the challenges of the current market,” said Mr. McQuaide.
“I appreciate the Board’s trust in me and embrace the opportunity to lead 1st Summit,” Ms. Johnson said. “Despite the economic headwinds facing the banking industry, I believe there are immense opportunities for growth and that there is a bright future for the Bank. I look forward to leading 1st Summit.”
The Company also announced today that John W. McCall has resigned from his role as Chairman of the Board of the Company and the Bank. Mr. McCall will continue to serve as a board member of both the Company and the Bank. The Boards of Directors of the Company and the Bank appointed Rex W. McQuaide, Esq., a current board member of each entity, to assume the role of Chairman of the Board of the Company and the Bank.
About 1st Summit Bancorp, Inc.
1st Summit Bancorp of
Forward-Looking Statements
This press release contains forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250328122286/en/
Allison Johnson
CEO & President
888-262-4010
Source: 1st Summit Bancorp of Johnstown, Inc.
FAQ
When will Allison Johnson take over as CEO of FSMK?
How long did Eric Renner serve as CEO of 1st Summit Bank (FSMK)?
What is Allison Johnson's experience before joining FSMK?
How many branches does 1st Summit Bank (FSMK) operate?
What leadership changes were announced at FSMK?
