Bedford, who has been deputy chief executive since 2017, replaces Karl Elliott, who led the business for five years.

Bedford, a qualified chartered accountant, first joined the building society in 2014 as finance director.

The firm said that since she joined the business she has “helped the society build its level of profitability, capital and liquidity, cumulating in 2021 performance which saw our profit levels reach their highest point in the last decade”.

Beverley Building Society chairman Stuart Purdy says: “The board is delighted to have selected Janet to lead us forward in our ambitious plans. These include further strengthening our position as lender of choice for our local members in Beverley, Hull and surrounding area, and across the country.”

Bedford adds: “We’ve come through the challenges of the pandemic with new learnings and confidence in our adaptability and resilience, thanks to our outstanding team. We know that current and future members need our help more than ever when it comes to getting a mortgage, particularly the increasing number of people whose circumstances are just that little bit more complex.

“The Society’s strong capital position and investment in new capability throughout the business means we are well placed to continue to deliver great customer service, support our savings members and help mortgage customers with innovative and competitive mortgages. Our team of experienced mortgage advisors take the time to listen and understand each individual case, doing their best to help wherever possible.”

The mutual saw its pre-tax profit jump 64% to £756,000, according to its 2021 financial statement, while its total assets lifted 3.5% to £207 million. Its total mortgage balance for the year, gross of mortgage loss provision, came in at £146.4m, 2.6% down on 2020.