WEBSTER CITY — WCF Bancorp, parent of WCF Financial Bank, has announced that Michael Segner has been named chief executive officer of WCF Bancorp and WCF Financial Bank. He will also serve on the company’s board of directors. Segner replaces retiring CEO Steve Mourlam.

“Mike is the right person to lead our bank forward,” said Thomas J. Hromatka, board chairman. “Mike has a long and distinguished career as a community bank CEO with vast experience iin the oversight of credit administration practices. Additionally, he has the experience and skills to continue to build on the long history of success of WCF Financial Bank.”

Segner will oversee all aspects of the bank’s growth and strategy.

Current CEO Steve Mourlam will assist in the transition, according to Hromatka.

“Steve’s service to WCF Financial Bank for nearly 40 years is truly appreciated. In his role as CEO, Steve guided the bank into a new era as a public company and most recently, with a change of charters.We are pleased he will remain on our board of directors to continue to utilize his knowledge and skills,” Hromatka said.