First Financial Northwest has named Joe Kiley as president and chief executive officer of its financial institution subsidiary, First Savings Bank Northwest.
Kiley will oversee the day-to-day operations of the Bank and he will also serve on the Bank’s board of directors.
With regard to the selection of Kiley as president and chief executive officer of the bank, the company, the bank, and First Financial Diversified, a subsidiary of the company, have entered into a transition agreement with Victor Karpiak, chairman, president and chief executive officer of the company, the bank, and FFD.
Pursuant to the agreement, Karpiak will retire as president and chief executive officer of the bank on 17 September 2012, but will remain as acting executive chairman of the bank to facilitate the executive succession at the bank.
Victor Karpiak said, "We are looking forward to the experience Joe will bring to the Bank and will look to his leadership skills as he helps us continue to move forward with improving the Bank’s performance."
The Bank said that Herman Robinson will continue as senior vice president and chief credit officer of the bank, while Simon Soh has been promoted from the Bank’s loan production manager to chief lending officer.
The Bank anticipates that the overhaul in the management team is in the best interests of the bank in complying with the conditions of the MOU and will further enhance the knowledge and expertise of management and the board of directors of the bank.