MARQUETTE — Kenneth A. Palmer, the longtime chairman, president and CEO of Range Financial Corp. has announced he will retire on June 1, 2018. He will be succeeded by Roxanne M. Daust, who has served Range Bank in several leadership roles over the past two decades.

The Range Financial Board of Directors unanimously selected Daust, who currently serves as executive vice president, to the new roles of president and chief operating officer, effective Sept. 1. In the coming months, she will work closely with Palmer, who will remain chairman and CEO until his retirement, to ensure a smooth leadership transition.

During his 19-year tenure at the helm of Range Bank, Palmer, expanded its footprint and scope of services, growing it into one of the largest community banks serving the Upper Peninsula. He is ending a nearly five-decade career in the financial services industry at Range Bank, which now has 112 employees working in 12 branches in three Michigan counties, along with a loan production office in Green Bay, Wis.

Palmer joined Range Financial, the holding company for Range Bank, as its chairman, president and CEO in 1999. He is the seventh president in the bank’s history since its founding in 1887. Palmer also served as a director of the Federal Reserve Bank of Minneapolis for three years. He currently serves as chair of the advisory board for Northern Michigan University’s College of Business and as a board member of the Negaunee City Police Retirement Fund.

Throughout his tenure with the bank, Palmer has served in numerous leadership roles in the community.

Prior to joining Range Bank, Palmer held positions with First of America Bank and Associates Finance.

“It has been a privilege to lead Range Bank for nearly two decades,” Palmer said. “I am very proud of what my team and I have been able to accomplish for our stakeholders during this time.

Daust joined Range Bank in 1997 as chief financial officer and senior vice president. In these roles, she was responsible for the finance and operations areas of corporate and the bank, leading Range Bank in identifying and implementing new technologies. Daust played a key role in the First National Bank merger, consolidating backroom functions to successfully merge the two banks into a single entity.

She was promoted to executive vice president in 2011. In this role, she has been jointly responsible with Palmer for the day-to-day operations of the bank and has worked to grow assets under management. Daust has lead the development and implementation of a strategic corporate plan and successfully helped to launch the trust and wealth management division.

Active professionally and within the community, she serves on numerous boards and committees,

Daust began her banking career with MFC First National Bank in Marquette. She also served as an auditor with Anderson, Tackman & Company CPA in Marquette.

A graduate of the Graduate School of Banking, Daust holds a Bachelor of Science degree in computer information systems and accounting from NMU.