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Old Lyme native Timothy P. Geelan has been named the incoming president and chief executive of Guilford Savings Bank.
Geelan, who currently lives in Guilford, will be taking over from Margaret Y. Livingston, who announced her retirement Thursday, effective early next year.
The bank said Geelan had been named Livingston's successor at its Board of Corporators' meeting last month. Geelan will be the 138-year-old bank's 11th president.
Geelan began his career at Connecticut National Bank and Shawmut National. He has been with the Guilford bank since 1994, most recently serving as chief operating officer.
Guilford Savings has about $540 million in assets.