Michigan bank CEO resigns, successor named

Bloomfield, Mich.-based Mi Bancorp, Inc. Chair and CEO Rob Farr resigned from the company last month to pursue a new opportunity in Traverse City, Mich. 

The board appointed Matt Agnone as chair of the company and its subsidiary, Mi BANK. President Jenny Meier was named CEO. Agnone, who chairs the audit committee, has been a director since the bank was started in 2019. A CPA, Agnone is CFO of a local family office in southeast Michigan.

Meier, who was one of the original employees of the now $200 million bank, has more than two decades of banking and leadership work. Agnone said Meier “has been a critical member of our executive management team and is an important part of the future success of the bank.”  

Farr, who was considered instrumental in the launch of Mi BANK, planned to transition to his primary residence and continue his career in northern Michigan. “Rob has been a mentor to me for many years, and I appreciate his valuable guidance during my career,” Meier added. “We wish him the best on his next adventure.” 

Tom Dorr is expected to continue serving as CFO and chief operations officer of the company and bank.