The Port Fairy and District Community Bank is expecting to appoint a new manager next week.
This comes after the departure of former manager Julia O'Neill, who held the position for two-and-a-half years.
Bank secretary Ashley King paid tribute to the role played by Ms O'Neill.
"We were thrilled with the job Julia did, she was outstanding," Mr King said.
"The bank had a solid start and she was able to build on that.
"She brought a strong background in banking to the role and she was a great advocate of the community bank model.
"The other big strength Julia had was her ability to connect with the community.
"To have a manager who is community focused is very important and Julia was certainly that."
Mr King also praised Ms O'Neill's investment in the bank's staff.
He said her leadership in this area had benefited many.
"Julia was really big at developing and upskilling staff," Mr King said.
"In that area she has left a significant legacy."
Ms O'Neill took over as manager from Mr King in 2018.
Mr King was the inaugural manager of the bank, filling the lead role for four years after the branch opened in 2014.
Mr King said he was hopeful a new manager would be announced next week.
He also indicated there would be some more positive upcoming announcements regarding the leadership structure of the bank.