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M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Banks Shuffle Mortgage Executives

Recent mortgage-related executive activity

Nov. 5, 2009


The fast pace of executive recruitment and promotions at U.S. financial institutions has maintained over the past couple weeks. Mortgage executive appointments were prominent in the latest shuffle.

Raymond S. Barbone was named executive vice president of mortgage services at Miami Lakes, Fla.-based BankUnited. Barbone previously oversaw a 1,300-employee staff and a $240 billion portfolio at ABN AMRO Mortgage Group -- which was swallowed up by Citigroup Inc. in March 2007. At BankUnited, he will oversee loan administration and
servicing, default administration, real estate owned disposition and mortgage modification efforts.

BankUnited is the successor to BankUnited, FSB, which failed in May. Barbone, a CPA, will be responsible for around $9.6 billion in residential loans, including $5.0 billion in option adjustable-rate mortgages, based on FDIC data from May.

The new acting president of Golf Savings Bank, subject to regulatory approval, is Donn C. Costa, parent Sterling Financial Corp. announced last week. Costa started 15 years ago at Golf, which is "a leading originator of home loans in the Pacific Northwest" with more than 30 loan offices.

Sterling said it acquired Golf in 2006. Before the merger, Costa was chief executive officer of former Golf parent Lynnwood Financial Corp. Spokane, Wash.-based Sterling itself recently named J. Gregory Seibly as its acting CEO and Golf's acting CEO.

Across the state, in Everett, Dave Dorsey was promoted to executive vice president at Frontier Bank's real estate division, Frontier Financial Corp. said last month. Dorsey has 30 years of banking experience, including eight at Frontier.

Sterling photo
of Donn Costa

Frontier also named Jim Liming, Jeff Lewis and Lyle Ryan to various EVP posts.

John Owen was named head of Regions Financial Corp.'s consumer services group, an Oct. 27 news release indicated. The two-year employee will lead the bank's and mortgage line of business.

Owen replaced David Rupp -- who himself was hired as CEO of Greystone Bank. Owen was already a senior executive at Regions as well as a member of its executive council. He previously worked for Citicorp Credit Services.

Birmingham, Ala.-based Regions also noted that Cindy Rogers, who started with the company in 1978, was named to lead the operations and technology group. She already heads bank operations.

Across town from Regions, at Superior Bank, C. Marvin Scott was promoted to CEO, according to a press release last month from parent Superior Bancorp. Scott has been with Superior four years as its president.

The bank's chief operating officer, Rick D. Gardner, replaced Scott as president of the bank. Gardner also started his job at Superior in 2005

Both will serve is vice chairmen on the parent's board of directors.

Orem, Utah's, Family First Federal Credit Union issued an Oct. 27 announcement indicating Brent K. Wasmer was hired as chief operations officer. Wasmer "will assist in cross-functional collaboration between departments and branches along with providing strategic planning and participating in vendor contract negotiations."

First Federal also said Jon K. Meier was hired as mortgage manager. Meier, who has 20 years' related experience, will oversee the mortgage lending department.

The Pocono Record reported last month that Cari A Coelho was appointed as vice president of branch operations at Ivy League Mortgage, a subsidiary of First National Bank of Chester County. Coelho reportedly has government lending experience as a mortgage banker and a mortgage broker.

photo of Steve Kenny
Columbia CU photo
of Steve Kenny

Columbia Credit Union reported that it named Steve Kenny president and chief executive officer. The 30-year veteran has been the Washington, D.C.-based institution's interim CEO since May, while he spent two years as Columbia's chief operating officer.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

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