ST. LOUIS — Rick Bagy, who has led Central Bank of St. Louis for 30 years, is stepping down as president and has been succeeded by a 30-year veteran of the company.
Dan Stephen, 61, takes over as president and chief operating officer as Bagy, 68, becomes vice chairman, with a plan to retire after working part time for two years.
Stephen has been chief credit officer and chief risk officer for Central Bancompany, the bank's holding company, since 2019. Before that, he was chief credit officer and head of commercial lending at Central Bank of St. Louis for more than 30 years.
“I am excited to be coming back to Central Bank of St. Louis and for the opportunity to build on the commitment to client service and growth that we have provided for over 115 years,” Stephen said.
As for his transition, Bagy said, "I've cut my pay to 60%, with the idea of working three days a week for two years. So far, only my pay is less."
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