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Ivory Tower Activity

Recent executive activity

April 13, 2009

By SAM GARCIA


Some of the nation's small financial institutions are making big changes at the top. And in the public sector, the Obama administration is considering tapping Fannie Mae's chief to head the Troubled Asset Relief Program, while one executive was brought in by a federal regulator to oversee huge financial institutions and another exited over his concern with the balance sheets of the U.S. institutions he oversaw.

Patrick W. Bevack replaced David G. Lodge as president and chief executive officer of the Home Savings and Loan Co., parent United Community Financial Corp. announced this month. Bevack originally joined the Youngstown, Ohio-based institution in 2000 when he already had two decades of experience.

In addition, Gregory G. Krontiris was named chief lending officer of Home Savings.

Thomas W. Holland will head up mortgage lending at the $13.6 billion South Financial Group Inc., an April 8 statement said. One of Holland's prior employers is Regions Banks.

Community Mortgage Funding LLC announced Thursday that Andrea M. Blais was named CEO on March 30. Blais has 20 years' experience in the credit union mortgage industry, according to community -- which is a credit union service organization formed by five credit unions.

The Federal Agricultural Mortgage Corp. appointed Timothy L. Buzby to the post of chief financial officer, a press release today said. Buzby joined Farmer Mac as controller and was previously CFO of George Mason Mortgage Corp. and Mortgage Edge Corp.

A. Patrick Linton will become president and CEO of AmericasBank after parent company AmericasBank Corp. is acquired by Capital Funding Bancorp Inc. this quarter, a statement last week said. Linton, who is currently a senior vice president for Capital Funding, was previously president, CEO and director of FCNB Bank and Corp.

Current AmericasBank CEO A. Gary Rever will serve as CFO after the deal closes. Current AmericasBank President Ellen Fish will become an executive vice president of community banking.

Mohave State Bank issued an April 1 news release indicating that 25-year banking veteran Brian M. Riley was appointed CEO of the Lake Havasu City, Ariz.-based subsidiary of State Bank Corp. In addition, Brad D. Payne -- who has 23 years' experience -- was named president.

William S. Burns was appointed CFO of Somerset Hills Bancorp. The 30-year veteran previously held jobs with The Dime Savings Bank of New York, Summit Bank and The Bank of New York.

Joseph H. Towell was named chief administrative officer and chief credit officer for Yadkin Valley Bank and parent Yadkin Valley Financial Corp., the Elkin, N.C.-based institution announced last month.

iServe Servicing announced last week that Richard Cimino was hired as CEO. Cimino previously worked at failed New Century Mortgage for five years.

The Office of Thrift Supervision has appointed Thomas A. Barnes as Assistant Deputy Director to oversee the new large bank oversight program announced in February for institutions with more than $10 billion in assets. His prior employers include the Massachusetts Division of Banks, a savings bank in New Hampshire and the Federal Home Loan Bank of Boston.

Fannie's CEO Herb Allison is expected to be placed in charge of TARP, the Wall Street Journal reported today.

Charles A. Bowsher's recent resignation from the board of directors of the Federal Home Loan Banks Office of Finance was due to his discomfort with vouching for the health of U.S. banks, Bloomberg reported. He was reportedly uncomfortable with the valuation of residential mortgage-backed securities.


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com.

e-mail: [email protected]



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