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New CEO takes reins at Bank of Akron

The Bank of Akron completed a historic transition at its annual meeting on Tuesday.

Anthony J. Delmonte Jr. took the reins as president and CEO from E. Peter Forrestel II, a handoff planned since late 2015. Delmonte, who had served as chief operating officer, is the first person who is not a Forrestel to lead the bank since the 1930s, a streak that lasted three generations.

Forrestel plans to officially retire this summer but will remain on the bank's board of directors. Forrestel family members still hold about 80 percent of the bank's stock.

The Bank of Akron, which was founded in 1900, has five branches. Last year, the bank recorded net income of $1.9 million.

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