ISHPEMING - Peninsula Bank has a new president to take the reins of the Ishpeming financial institution upon the retirement of current President Bill Stream.
Kim Van Osdol will replace Stream as president in July. Following a transition process, Stream will retire and remain on the Peninsula Bank board of directors.
"I am really looking forward to joining the Peninsula Bank team," Van Osdol said in a prepared statement. "I am humbled, honored and excited to start."
Stream will be retiring after a 33-year career with the bank, serving as president since 1990. During his tenure, the bank more than tripled in size, adding four new branch locations, introducing ATMs, investment services and Internet banking.
Van Osdol began his banking career in Marquette County with the Michigan Financial Corporation and served as president of MFC First National Bank in Menominee for several years before moving to Wisconsin. In 2008, he began serving as senior vice president of business services at Community First Federal Credit Union in Appleton, Wis.
"Van Osdol was chosen after a selection process that included internal and external candidates," Peninsula Bank board Chairman John Jilbert said. "His strengths are a good fit for Peninsula Bank's priorities as the bank moves forward in its 125th year."
Van Osdol has a bachelor's degree in business administration from Northern Michigan University and is a graduate of the Stonier Graduate School of Banking at Rutgers University in New Jersey.
Peninsula Bank was founded in Ishpeming in 1887 and remains an independent community bank with branch offices in Ishpeming, Negaunee and Marquette.
Johanna Boyle can be reached at 906-486-4401.