Peoples State Bank announced the promotion of Craig Lau to Northern Market President.

In his new role, Lau will oversee the Peoples bank locations in Rhinelander, Eagle River, and Minocqua. He’s served as a vice president of commercial lending based in Rhinelander for the past seven years.

He fills the position left open after the recent retirement of Tom Knudsen, who retired after a 40+ year career in the financial industry in the Northwoods.

“Craig has flawlessly orchestrated the re-assignment of all of Tom’s commercial portfolio,” said Peoples State Bank President & CEO Scott Cattanach. “During the past year, he’s served as an advisor for all staff in the Northwoods, and his strong community relations background is a great asset for the bank.”

“I look forward to continuing the strong tradition of assisting our customers and neighbors,” said Lau. “Each of our Northwoods communities is unique, and each deserves a strong community bank to provide sound financial solutions.”

Lau was instrumental in establishing Peoples’ first banking location in the Northwoods in 1998. He helped set up a bank within the Rhinelander Trig’s grocery store. Four years later, he helped oversee construction of the bank’s Anderson Street location. Lau spent 22 years in the Army, including multiple deployments, most recently to Iraq in 2003-04. 

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