BANKING

Orange National’s Chiefs: Wayne F. Miller has given way to Kenneth J. Cosgrove as chief executive of Orange National Bank, completing a transition in top managers that began nearly two years ago.

Miller, 61, the bank’s founding president, remains as president and chief executive of the holding company, Orange National Bancorp. He’ll be working on strategic planning, business development for the holding company and investor relations, including an effort to get the company listed on a major stock exchange.

Cosgrove, 47, who helped to open the bank in 1979, had taken over as bank president and chief operating officer in May, 1993, as part of the planned transition.

Last year, the Orange-based bank earned $919,000 and ended the year with $207.1 million in loans and other assets.

Cosgrove said the aim is to take care of the bank’s financial well-being. “We realize the best way to do that is to run a profitable operation,” he said.

Posting profits and working on investor relations also are known as good ways for a small community bank to help position itself for sale in the shrinking industry.