Fortifi Bank announced that President and Chief Executive Officer Eric Cerbins has informed the company’s board of directors of his decision to retire on May 31, 2020 and step down as president and CEO effective immediately. The board has elected Gregory Lundberg, who served as the company’s executive vice president, chief lending officer, and board member, as the new president per the board’s succession plan.
Board Chair Russ Kuehn said, “Eric Cerbins has served this company well over the last 14 years, including his role as president and CEO since April 2017. His announcement and decision today are indicative of his commitment to the company as he has planned enough time to transition the bank smoothly.”
Cerbins said, “In my 39 years of banking, I have not come across a more dedicated team of people. I could not be prouder of what we have accomplished together and what the future holds. There is much more success ahead and I am confident the bank will achieve great things under Greg’s leadership.”
He earned a B.A. from the University of Wisconsin - Madison and entered the financial industry in 1980. Cerbins joined Fortifi, at that time called 1st National Bank, in June 2005 as executive vice president of business banking. He was appointed president and CEO in 2017.
During his tenure as president and CEO, Cerbins led the bank in the transition from a national to state charter, a name change to Fortifi, and grew bank assets to $440 million.
Greg Lundberg joined Fortifi Bank as a business banker in 2010 and led the bank’s expansion into northeast Wisconsin, now one of its strongest growth markets. He most recently served as executive vice president and chief lending officer in addition to sitting on the board of directors. With over 30 years of financial industry experience, Lundberg brings the knowledge necessary to ensure success for the community bank. He holds an MBA in finance from the University of Wisconsin - Madison School of Business.
“I am already deeply impressed by our team at Fortifi,” said Lundberg. “Having Eric’s guidance through the transition will ensure the appropriate foundational elements are in place to achieve new milestones for our bank’s legacy.” He added, “We will move ahead in the best interest of our clients, shareholders, and employees.”