Lincoln Savings Bank President and CEO Erik Skovgard resigned June 15.
The resignation was announced in a June 21 press release from the Reinbeck, Iowa-based bank. Skovgard, who had worked for the $1.8 billion bank since 1994, had been CEO and president since 2014.
“A need for change has been building in me for quite some time,” Skovgard wrote in a LinkedIn post announcing his resignation. “… For me personally, I am an entrepreneurial leader who builds things. That is my passion and that is what I intend to do next. I want my second job to be something that motivates, inspires and provides purpose in my work, just like LSB did for a quarter of a century.”
The bank named Emily Girsch interim president and CEO. Hired as a controller in 2002, Girsch was promoted to CFO five years later. She has since played a key role in the bank’s growth and introduction of its banking-as-a-service program LSBX.
“I appreciate the board’s trust in me and embrace the opportunity to lead Lincoln Savings Bank during this transition period,” Girsch said. “Despite the economic headwinds facing the banking industry, I see immense opportunities for growth and a bright future for the bank. Together, we will embrace this new journey, alongside our loyal customers and talented employees to achieve success.”
LSB Board Chair Sally Hollis assumed the role of executive chair. A board member since 2017, Hollis was appointed chair in March 2022. “I would like to express my gratitude to Erik for his valuable contributions as CEO and wish him well in his future endeavors,” Hollis said. “Looking forward, the board and I have full confidence in Emily’s ability to lead our company during this transition.”