First Shore Federal announces retirement of Marty Neat, names successor

The board of directors of First Shore Federal announced that longtime President and CEO Marty Neat’s planned retirement will become effective Friday, Dec. 31. 

At that time, Diane M. Turner, vice president and chief financial officer, will assume the position of president and CEO, according to Catherine A. Tyson, board chair. Additional promotions will be announced in the near future.

Neat has been with First Shore for more than 35 years, the last 30 as president and CEO. During that time, the association has grown from $117 million in assets to more than $340 million in eight branches. The capital ratio, a key indicator of the financial strength of a financial institution, has more than doubled during that period, making First Shore one of the strongest financial institutions in the region.

First Shore has also held a rating of “outstanding” for community reinvestment from its federal regulator for more than 25 years.

“It has been an honor and a privilege to serve the customers of First Shore and the communities we love,” said Neat. “We’ve used an advertising theme of ‘Community-minded, just like you’ for many years, and we’ve certainly taken pride in fulfilling that statement. We firmly believe that is a critical part of being a community bank.”

Turner has been with First Shore Federal since 1990, having served as controller, vice president and chief financial officer. A graduate of West Virginia University with both bachelor’s and master’s degrees in accounting, she has held the designation of certified public accountant for more than 30 years.

“I am also very proud that Diane Turner has been elected to the CEO post,” said Neat. “We have such a strong team at First Shore, and it’s wonderful that promotion from within is so clearly appropriate. Diane has made me – and First Shore Federal – look very good for a very long time.”

The transition in leadership is in process at First Shore. Public activities are planned but may be subject to local COVID trends.