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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 Executives Depart

Recent bank executive activity

May 10, 2010

By SAM GARCIA


Chief executive officers have recently exited from a Denver bank, a Connecticut bank and a North Carolina institution. The CEO of a Federal Home Loan Bank also recently jumped ship. But with every departure comes a new hiring.

At the Federal Home Loan Bank of Atlanta, Richard A. Dorfman resigned as president and CEO, an April 16 statement said. The GSE's general counsel, Jill Spencer, was named interim president and CEO.

Following the resignation of Philip R. Sherringham, People's United Financial Inc. announced that Chief Administrative Officer John P. Barnes was named interim president and CEO of the Bridgeport, Conn.-based company. Barnes started in 1983 at Chittenden Corp. -- which was acquired by People's in 2008. A search for a permanent CEO is underway, while an office of the chairman and CEO has been created.

"The board believes that new leadership is necessary to take the company to the next level," George Carter, chairman of the $20 billion company, explained in the statement of Sherringham's departure.

UnionBanCal Corp. announced on April 29 that Chief Risk Officer Mark W. Midkiff was named vice chairman. Midkiff operates out of the company's San Francisco headquarters and reports to Union Bank President and CEO Masaaki Tanaka.


UnionBanCal photo of Mark Midkiff

photo of Timothy Wennes
UnionBanCal photo of Timothy Wennes

Midkiff started at the bank last June as deputy chief credit officer. Before that, he reportedly spent 25 years at Wachovia Corp., most recently as chief risk officer at the general banking group.

UnionBanCal Chief Retail Banking Officer Timothy H. Wennes was also named vice chairman. Wennes, however, is based at its Los Angeles headquarters. He'll also report to Tanaka. Wennes started at the $86 billion institution in July 2008 as head of retail banking and senior executive vice president.

Wennes was previously chief operating officer for Countrywide Bank and spent 14 years at Wells Fargo, where he ascended to regional president.

In addition, UnionBanCal executive vice president and head of branch banking, Pierre P. Habis, was promoted to senior executive vice president. Habis, who will continue to report to Wennes, became a member of the bank's policy-making executive committee.

Habis started at Union Bank in September 2008 as head of branch banking and was quickly named as an executive vice president. During the 20 years prior to that, he worked for Wells Fargo, Bank of America and Countrywide Bank.

The sudden retirement of Michael C. Miller as president and CEO of FNB United Corp. prompted the company's board of directors to name Chief Operating Officer R. Larry Campbell as interim president and CEO, an April 23 news release stated. A committee has been appointed to search for a permanent replacement.

Miller, who started with FNB 25 years ago, had been president and CEO of the Asheboro, N.C.-based parent of CommunityONE Bank, N.A., since 1991.

photo of Pierre Habis
UnionBanCal photo of Pierre Habis

Scot T. Wetzel resigned as president and CEO of United Western Bancorp Inc., an April 30 news release said. He also resigned as president, CEO and chairman of subsidiary United Western Bank. No reason was given for his departure.

James R. Peoples, a 35-year bank veteran, stepped in to replace Wetzel at the Denver-based bank. His interim status is expected to be made permanent in around two months. Peoples, who started at United Western in February, was previously employed by KeyBank in Seattle, where he was president of KeyBank, Seattle Cascades District.

The new CEO at Middleburg Financial Corp. is Gary R. Shook, an April 28 statement said. Shook already held the title of president at the Middleburg, Va.-based bank-holding company. He started with Middleburg in 2005, and was senior vice president of Fauquier Bankshares Inc. for the 10 years prior to that.

Rurban Financial Corp. said on April 27 that Anthony V. Cosentino was appointed chief financial officer. He'll additionally serve as CFO of subsidiary The State Bank and Trust Co. Cosentino was originally hired on March 1 as an EVP and joined the board of directors on April 21. He succeeds Duane L. Sinn.

Cosentino, a certified public accountant, previously held positions at companies including Bank One Corp., Fifth Third Bancorp and AmTrust Financial Corp.

In Dallas, James Flanagan joined Southwest Securities, FSB, as senior vice president, head of commercial collateral management, an April press release noted. He'll be responsible for implementing processes to monitor the collateral securing commercial and industrial loans.

Celia Wilbur has been hired by Oakdale, Calif.-based Oak Valley Community Bank as a vice president branch manager, a recent statement said.

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

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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.


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