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First National Bank and Trust Announces CEO Succession

Release date: 10/4/2023

Beloit, WI, October 4, 2023 –David N. McCoy, President and Chief Executive Officer (CEO) is retiring from First National Bank and Trust (FNBT), and as President of Centre 1 Bancorp, Inc, the bank’s holding company. In addition to retiring from his management positions, David is also retiring from the board of directors of both organizations. He will remain with the bank in a consultative role through March 31, 2024, as the bank transitions Don O’Day, Executive Vice President (EVP) Chief Operating Officer to President and CEO of the bank.  He will also serve as President of the holding company.

Photo of Don O'DayWith more than 35 years in banking, Don, who has been with FNBT since 2017, has had an impressive career in commercial and consumer lending, treasury management, credit administration, and executive leadership.  Over the course of his career, he has spent 14 years as Chief Credit Officer and served in various executive roles in several Chicago area community banks, including 6 years as President of Suburban Bank and Trust in Elmhurst.

“I appreciate the Board’s trust in me to lead FNBT into the future and I’m proud to be part of our 141 year history,” said O’Day. “With the vision and legacy of our Centre 1 Bancorp Board Chair, Steve Eldred, and an exceptionally talented family of bankers, we are well-positioned for growth as the only truly local community bank in the Stateline area.   I would also like to thank David for his leadership and wish him the best in retirement. It has been a pleasure working closely with him over these past six years at FNBT.”

Steve Eldred, who will remain as Chairman and CEO of the holding company and Chairman of the bank, added, “The board of directors and executive leadership team at First National Bank and Trust appreciate David’s contributions throughout his career at the bank. His business acumen, community involvement, and commitment to the bank, have been valued.”

Centre 1 Bancorp, Inc. is the holding company of First National Bank and Trust Company. First National Bank and Trust Company is a family-focused, community bank headquartered in Beloit, Wisconsin. Chartered in 1882, First National Bank and Trust has grown to be a leading financial services institution offering products and services for consumers and businesses, as well as trust, retirement services, investment management, brokerage and insurance. We now serve nearly 30,000 households in 13 communities and 16 locations in Southern Wisconsin and Northern Illinois with assets of approximately $1.5 billion. We treat our customers, employees, shareholders and communities like family, with a goal of helping all our families succeed. Providing Sound Advice and delivering an exceptional experience has positioned First National Bank and Trust as a Stateline leader in the industry. For additional information, visit

First National Bank and Trust: “Give us a try. We’ll treat you like family.”