The Chairman of the Board of Directors of First Exchange Bank, James A. Boyers, announced that Bill Goettel will retire from the role of Chief Executive Officer after 32 years of dedicated service. The Board has appointed Clayton Rice, current Chief Lending Officer, as the next CEO, effective Nov. 1, 2025. Goettel will remain with the bank until January 13, 2026.

“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 Boyers.

With over 30 years of banking experience, including 18 years in leadership roles and a decade as a business owner, Rice brings a deep understanding of both commercial and retail banking. Since joining First Exchange Bank’s Commercial Banking Division in March 2023, Rice has played a key role in expanding the bank’s lending portfolio and supporting economic growth across North Central West Virginia. Promoted to Chief Lending Officer in April 2025, Clayton further strengthened relationships with businesses, local organizations and customers throughout the region. He is committed to continuing First Exchange Bank’s tradition of community involvement, personalized service and sustainable growth.

“I am humbled and honored to be entrusted with the role of CEO at First Exchange Bank,” expressed 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.”

Goettel commented, “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.”