Southern Michigan Bank & Trust Announces CEO Resignation and Search for New Leadership
The boards of directors at Southern Michigan Bancorp and Southern Michigan Bank & Trust have announced the resignation of John Waldron as president and CEO. Effective immediately, Board Chair John Castle will serve as interim CEO while Board Vice Chair Kurt Miller takes on the role of interim president. Both had stepped back from daily operations in June 2024 but remained active advisors to the bank's strategic direction. Waldron is credited with growing Southern’s Jackson market into a key profit center and building an experienced team there, helping establish the bank as a regional leader. The board expressed gratitude for his contributions and emphasized their commitment to maintaining Southern’s identity as an independent community bank during its 154-year history of service. Southern currently operates $1.69 billion in assets across six counties with 20 branches, offering consumer, business, and wealth management services while supporting local communities through financial aid and volunteer efforts.
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Topics: Community Banking Leadership Change