Business
Peoples Bancorp Announces Retirement of Lance Sellers as CEO/President and the Selection of Bill Cable as the New CEO/President; Cable has been the Chief Operating Officer Since 2000
NEWTON, NC / ACCESSWIRE / July 31, 2024 / Robert Abernethy, Chairman of the Board of Peoples Bancorp of North Carolina (Nasdaq:PEBK) announced today that Bill
About this update from Peoples Bancorp Of North Carolina, Inc.
[{"type":"text","content":"NEWTON, NC / ACCESSWIRE / July 31, 2024 / Robert Abernethy, Chairman of the Board of Peoples Bancorp of North Carolina (Nasdaq:PEBK) announced today that Bill Cable has been appointed by the Board of Directors to assume the role of President and CEO on September 19, 2024 with the upcoming retirement of Lance Sellers in early 2025.Mr. Abernethy commented on the appointment by saying \"Peoples Bank has been very fortunate to have a talented and dedicated team of senior executives. They have served the bank, the community, and our shareholders very well. Bill Cable is a big part of that team's success. The Board is pleased to have a leader with his qualities and abilities to serve as our new CEO.\"Mr. Sellers said \"I am delighted with the Board's choice of Bill. I've worked side by side with him for many years and his extensive knowledge of banking and the industry will benefit the bank for years to come.\"Mr. Cable joined Peoples Bank in 1995 and has served in several executive positions in the Company. In 2000 he became the company's Chief Operating Officer, responsible for executing strategy across the organization. He began his banking career in 1991 with the Federal Deposit Insurance Corporation. He is a graduate of Western Carolina University with a Bachelor of Science degree in Business Administration. He has completed executive banking schools at Louisiana State University, Vanderbilt University, the University of Wisconsin-Madison and the North Carolina Bank Directors' College.Mr. Cable and his family reside in Catawba County. They are members of Discovery Church where he has served on the Ministry Leadership Team. He has also served in many community organizations including the Hickory Soup Kitchen and the Catawba County United Way.Mr. Cable said \"I am honored to serve as the eleventh President and CEO of Peoples Bank. Peoples Bank has a proud 112-year heritage as a respected community bank, serving our employees, customers, and shareholders. I look forward to working with our board of directors and the great team at Peoples Bank, to lead our company into the future as a strong, independent community bank that is Exceptional at Serving our Communities.\"Mr. Abernethy stated on Sellers upcoming retirement \"During Lance's 12 years as CEO the bank's assets grew from $1 billion to $1.6 billion, it achieved 5 years of recor...