UnionBancorp CEO Resigns

The banking company is seeking a replacement for Scott Yeoman.
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UnionBancorp's

(UBCD)

chief executive officer, Scott Yeoman, has resigned, effective immediately. Yeoman will remain with the Ottawa, Ill., company in a consulting capacity for up to 10 days to assist with the transition.

Yeoman, who was named president and CEO in 2005, also resigned all other directorships, offices and positions he held with the company's subsidiaries. UnionBancorp's board of directors is seeking a successor for Yeoman and has appointed CFO Kurt Stevenson to serve as interim president of the company and of its wholly owned banking subsidiary, UnionBank.

After the completion of UnionBancorp's merger with

Centrue Financial

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, Stevenson will serve as interim COO of the company and serve as interim president and COO of the resulting bank until a successor is appointed. He will retain his CFO title throughout the process.

Shares of UnionBancorp were down 15 cents, or 0.8%, at $19.10 in recent trading Tuesday.