WHITE HALL, W.Va. –– The Chairman of the Board of Directors of First Exchange Bank, James A. Boyers, has announced plans to retire from his role as Chief Executive Officer after 32 years of dedicated service. The Board has appointed Clayton Rice, current Chief Lending Officer, as the next CEO, effective November 1, 2025.

“The Board of Directors is deeply grateful for the leadership and vision that Bill Goettel has provided during his tenure. Under his guidance, First Exchange Bank has continued to grow while staying true to our mission of serving our communities. We are excited to welcome Clayton Rice as our next Chief Executive Officer and are confident in his ability to lead us into a new era of growth, innovation, and community impact,” stated James A. Boyers, Chairman of the Board of Directors.

Rice comes to the role with more than 30 years of banking experience, including 18 years in leadership roles and a decade as a business owner. He brings a complete understanding of commercial, retail banking and has been vital in expanding the bank’s lending portfolio and supporting economic growth across North Central West Virginia since his arrival in 2023. In 2025, he was promoted to the position of Chief Lending Officer.

Rice is also a member of Bridgeport City Council.

“I am humbled and honored to be entrusted with the role of CEO at First Exchange Bank,” expressed Clayton Rice, current Chief Lending Officer and future CEO of First Exchange Bank. “First Exchange Bank has a remarkable history of community service and customer commitment, and I look forward to working with our employees, customers, and community partners to build on that legacy. Together, we will continue to grow, innovate, and make a positive impact in the communities we serve.”

“After more than 32 years with the Bank, I am deeply grateful and honored for the opportunity to have served this organization and our community. It has been a privilege to work alongside an exceptional Board of Directors and a dedicated team of colleagues. I am proud of the growth we have achieved together and have great confidence that Clayton Rice will continue to build on our strong foundation while bringing a fresh perspective and leadership to the organization,” Bill Goettel, current CEO of First Exchange Bank said.

First Exchange Bank has served Marion, Monongalia, and Wetzel Counties since 1932.