WCF Financial Bank of Webster City, Iowa, has hired Michael Segner as its president, effective August 27. Segner also will serve on the bank’s board of directors. The $119 million WCF Financial Bank is a subsidiary of WCF Bancorp.
Segner had been president and CEO of Peoples Trust & Savings Bank in Clive, Iowa for 10 years. He left the bank upon its sale to Rigler Investment in the fourth quarter of 2017.
Segner replaces Stephen Mourlam, who is retiring after nearly 40 years with WCF. He plans to remain with the bank through 2018 to assist with the transition. Mourlam also serves on the board of directors.
WCF Financial Bank was formed in 1934. Earlier this year, the bank converted to a state charter from a federal savings association.
Segner serves on the board of directors of the Bank Holding Company Association, an industry trade group.
WCF Bancorp, the holding company, was created in first quarter 2016. In addition to Webster City, the bank added an office in Independence, Iowa upon its 2014 acquisition of Independent Federal Bank for Savings.