Nik Rajkovic / news@whmi.com

Bank of Ann Arbor announces Bill Martin, who in 1995 led a group of prominent local businesspeople in founding the bank — is retiring from his position as board chairman.

According to a release, Tim Marshall, President and CEO of Bank of Ann Arbor and Arbor Bancorp since 2004, is the new Executive Chairman of the Board and CEO, effective immediately.

Current board member Mike Martin — Bill and Sally Martin’s son — will become the board’s Vice Chairman. Mike’s brother, Seth Martin, has joined the board of directors.

“So many of us have benefitted greatly from Bill’s vision,” said Marshall.

“Thirty years ago, he imagined a local bank that would help others, be an exceptional member of the communities we serve, and have the discipline and wherewithal to succeed and remain independent. Through his leadership, we’ve helped make Bill’s vision a reality.”

“Now, with both Mike and Seth on the board, the generous guidance and insight from the Martin family will continue.”

Marshall also announced the promotion of Patti Judson to President and Chief Operating Officer.

Ms. Judson was one of the bank’s first employees, having joined the bank as an assistant branch manager in 1995. Her career has included positions in bank auditing, consumer lending, and branch management.

Today, she provides management oversight for branch administration, cash management, online, and digital banking, information technology, human resources, mortgage lending, and loan and deposit operations.