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Corporate Mortgage News
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.

Bank CEOs, CFOs and CCOs

Recent bank executive activity

Jan. 7, 2010


Among recent executive appointments at U.S. banks, including two Federal Home Loan Banks, were several chief executive officers, a chief financial officer and a chief credit officer. Even bank boardrooms were busy.

A recent survey of bank executives by BAI Research indicated a majority saw overall employment as worse than six months earlier. But less than a third expected the economic situation to worsen this year.

"Most bankers have seen a positive impact on their own institution's balance sheet in terms of higher deposit balances, higher savings rate, and improved interest margins," BAI Managing Director Ajay Nagarkatte said in a statement. "But, increased costs due to new regulations seem to offset gains made from deposit products."

Charles J. Nugent was elected to the board of the Federal Home Loan Bank of Pittsburgh, a news release yesterday said. Nugent is chief financial officer for Lancaster, Pa.-based Fulton Financial Corp. -- a wholesale bank that helps it 317 owner-members with housing finance and economic development.

In Boston, Gerald T. Mulligan was elected to the board of directors at the Federal Home Loan Bank of Boston. Mulligan, whose term started on Jan. 1, is president and CEO of LSB Corp. and subsidiary River Bank.

E*TRADE FINANCIAL Corp. announced that Robert Druskin replaced Don Layton as chairman and interim CEO on Dec. 31. Druskin has been an E*TRADE director since February 2008 and previously served as chief operating officer of Citigroup Inc. The company said it has made progress in finding a permanent CEO.

Conrad Hanson retired as president and CEO of City Bank, according to a Dec. 22 news release. He will step down as chairman of the Lynwood, Wash.-based institution at the annual shareholders' meeting in May 2010. Hanson has been with the bank since its 1974 founding

City Bank's board of directors elected Tatum LLC partner Martin L. Heimbigner as its new president and CEO. Heimbigner, who has been a director for six years, noted in the statement that the Lynwood, Wash.-based bank will continue to aggressively unload REOs -- which it is currently doing at a pace of $20 million to $30 million per month. He indicated that one goal is to diversify lending beyond construction to other areas including residential mortgage lending.

City Bank also said it named 18-year employee James Carroll chief credit officer.

Carrollton Bancorp announced last month that Mark A. Semanie was taking over as CFO on Jan. 4. The Columbia, Md.-based firm is parent to Carrollton Mortgage Services Inc.

V. William Dolan Jr. has joined Southwest Securities, FSB, as president of a new Albuquerque, N.M., banking center, a press release Wednesday indicated. Dolan was most recently manager of acquisition and development lending at First Community Bank in Albuquerque.

Payment-option adjustable-rate mortgages sank BankUnited Financial Corp., and the Federal Deposit Insurance Corporation is looking to former directors and officers for civil damages, according to an FDIC letter reported by the Miami Herald. The addressees are accused of gross negligence.
photo of William Dolan
Southwest Securities photo of William Dolan

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

[email protected]

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