SPRING VALLEY — Spring Valley City Bank has hired Matthew E. Merboth as president and CEO. He joined the bank in late August.
“I am very fortunate to be able to join such a strong organization,” says Merboth. “The opportunity to lead a well run organization such as this is something I am extremely excited about. The customers and staff have been absolutely wonderful in welcoming me to my new position.”
Merboth has lived in the Illinois Valley area for eight years with his wife, Angela, and their family. He is a 1991 graduate of Illinois State University with a bachelor’s degree in finance. In 2001, he graduated from the Graduate School of Banking located at Madison, Wis. He is a member of the Peru Rotary Club and currently serves as a LaSalle Elementary School District Board of Education member.
Merboth brings 21 years of community banking experience to the position and had recently served as senior vice president and senior lender for another local financial institution for the last six and one-half years.
Gordon Virgo, chairman of the Spring Valley City Bank’s Board of Directors, said “We are pleased to have someone with Matt’s experience as president of Spring Valley City Bank. He is a leader that understands the importance of providing exceptional service to our customers while maintaining a financially strong organization.”