Clem Rosenberger

KITTANNING — NexTier Bank has a new president and chief executive officer to succeed outgoing CEO Richard Krauland, who retires this month.

The bank has named Clem Rosenberger, a 19-year veteran of the financial services industry, to the top executive post. He is expected to take over in mid-August.

Krauland will retire Friday, and Rosenberger will serve as acting CEO until the end of the month, when the board is expected to approve the new title.

Rosenberger, who previously was the chief operating officer of both NexTier and Farmers & Merchants banks, and the chief financial officer of Farmers National Bank, said he looks forward to leading the company.

“NexTier has grown substantially over the past decade, through a combination of acquisitions and organic growth due to its strong ownership group, senior management and staff,” Rosenberger said.

He also was an internal auditor for S.R. Snodgrass while earning his certification as a certified public accountant. He is a graduate of the American banker Association’s National and Graduate Commercial Lending Schools.

He has a bachelor of arts degree in accounting from Harding University.

Krauland and Mark Snyder of Snyder Association Companies, who is a NexTier board member, called Rosenberger’s experience and background as a native of southwestern Pennsylvania a key part of the company’s continuing success.

“He understands our unique region and our commitment to our local communities,” Snyder said. “I am confident that he will serve effectively as our new CEO, helping us solidify our vision for the future and to develop strategies that support long-term growth.”

NexTier Bank serves Butler, Armstrong and Allegheny counties with corporate offices in Kittanning and 26 branch offices.

As of June 30 the company had total assets of $1.13 billion, total loans of $847 million and total deposits of $955 million.