Coldwater, Mich.-based Southern Michigan Bank & Trust CEO John Castle and President Kurt Miller retired from their positions.
John Waldron was named president and CEO. Waldron, who joined the bank as president of its Jackson, Mich., market in May 2022, has nearly three decades of commercial banking and leadership experience.
A former OCC bank examiner, Waldron spent 20 years at a community bank in Jackson and the surrounding area. He has a Bachelor of Business Administration degree from Western Michigan University, Kalamazoo.
Castle and Miller are expected to help Waldron manage the day-to-day operations of the $1.4 billion Southern Michigan Bank & Trust until they retire in June 2024. Castle will continue to serve as board chair while Miller transitions to vice chair. Both men have been in their present roles since 2002.
“During their tenure, total assets, loans and deposits grew more than four-fold,” the bank stated.