Joseph A. De Vito, current executive vice president and chief financial officer at Auburndale-based Village Bank, has been elected president and CEO by the bank’s board of directors. He was also elected to the board of directors.

Kenneth C. Brennan, president and CEO of Auburndale-based Village Bank since 1991, stepped down at the bank’s annual meeting on May 14. Following a vote by the bank’s directors, Brennan was elected to serve as chairman of the board.

Brennan and De Vito will be located at the bank’s home office in Auburndale.

Current board chairman Alfonso De Vito, who has held that position since the 2003 merger of Auburndale Co-operative Bank and Newton South Co-operative Bank to form The Village Bank, will remain active on the board.

Brennan joined the former Auburndale Co-operative Bank in 1983 as vice president and treasurer, and was named president and chief executive officer in 1991 and continued in those roles following the 2003 merger. Brennan has spent his entire professional life in community banking. He began his career at the Middlesex Family Co-operative Bank in Waltham, which later merged with Newton Co-operative Bank to become Hometown Co-operative Bank. Hometown’s subsequent merger with Middlesex South Co-operative Bank, Pioneer Co-operative Bank and Malden Co-operative Bank formed the Pioneer Financial Group, with Brennan as manager of Pioneer’s main office in Newtonville before joining Auburndale Co-operative Bank two years later.

De Vito served as executive vice president and treasurer of Newton South Co-operative Bank before the merger that formed The Village Bank. In that role, he was responsible for all financial and operational activities of the Bank, which he had joined in 1998.Earlier in his career, he was a controller at Waters Corp., senior financial analyst with Boston Scientific Corp., financial analyst with Millipore Corp. and budget and program analyst with Raytheon Co.