Farmers & Merchants Bancorp announced Stephen W. Haley, Executive Vice President and Chief Financial Officer, will be retiring effective Dec. 31 after 18 years with Farmers & Merchants Bank of Central California. Haley will remain with the company then to assist with the transition to a new CFO.

"On behalf of the entire team at FMCB and the Board of Directors, I want to thank Steve for his leadership and dedication to our company,” said Kent A. Steinwert, Chairman, President and Chief Executive Officer of FMCB. “During his time with the Company, Steve has been vital to the development and successful execution of our business strategies, including the important role he played helping the organization grow to over $5.0 billion in assets. As CFO, he ensured a strong financial and capital position, and he played a key role in helping us build a culture around teamwork and execution. I also want to personally thank Steve for being a trusted advisor to me and true business partner to our management team. We all wish him a happy and well-deserved retirement.”

The company also announced that Mark K. Olson will join the company as its Executive Vice President and Chief Financial Officer effective Nov. 1. Olson has held various financial leadership positions in the banking sector for the past 32 years, including with four banks in California. Most recently, Olson was CFO for Altabank, a $3.6 billion community bank headquartered in Utah, which was sold to Glacier Bank earlier this year. He will work closely with Haley until year-end to ensure a seamless transition.

“As we continue to expand our organization, it’s important that we add highly accomplished, talented, and experienced people to our executive leadership team. Mr. Olson brings a depth and breadth of technical and public accounting experience, processes and technology improvement, and integration experience to the company that will enrich the management team, while enabling us to execute successfully on our objectives in 2022 and beyond,” said Steinwert.