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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 CEO Disappears

Recent bank executive activity

Oct. 5, 2010


The head of a bank with more than $0.5 billion in assets has gone missing, prompting the board to appoint an interim chief. More than a dozen other institutions recently announced executive changes.

Macomb Daily photo of Dave Widlak

The unexplained absence of Community Central Bank Corp. Chief Executive Officer Dave Widlak prompted the Mount Clemens, Mich.-based bank to appoint Chief Financial Officer Ray Colonius as interim CEO. The bank has $543 million in assets.

"Dave Widlak has not been fired," proclaimed Colonius in a press release. "Mr. Widlak remains missing and we are all very concerned for his safety. Our thoughts and prayers are with Dave and his family."

The bank reassured depositors, who had more than $429 million with the bank as of June 30, that their deposits "remain insured up to $250,000 by the Federal Deposit Insurance Corp."

The role of The PNC Financial Services Group Inc. Senior Vice Chairman William S. Demchak has been expanded to include supervisory responsibility for all PNC businesses -- including the asset management group and retail banking, the Pittsburgh-based company said in September. PNC explained that President Joseph C. Guyaux and Executive Vice President Robert Q. Reilly will continue in their current respective roles as heads of retail banking and the asset management group.

Before joining PNC in 2002, Demchak reportedly was global head of structured finance and credit portfolio at JPMorgan Chase & Co.

Tim Sloan was named chief administrative officer of Wells Fargo & Co., according to an announcement last month. In this newly created position, the 23-year employee will report to Wells President and CEO John G. Stumpf. He was promoted from his job as head of commercial banking, real estate and specialized financial services.

Sloan is responsible for the company's brand, reputation management, stakeholder engagement and people development efforts, Wells said. Division that now fall under his supervision include corporate communications, corporate social responsibility, enterprise marketing, government relations and human resources.

photo of Tim Sloan
Wells photo of Tim Sloan

Charles H. Silverman replaced Michael Heavener as head of global financial Institutions at Wells Fargo, a Sept. 28 news release indicated. Heavener retired on Sept. 1 after more than four decades with the San Francisco-based company.

At Bank of America Corp., NeighborWorks America CEO Kenneth D. Wade joined the bank as senior community affairs executive. He'll operate from Washington, D.C.

BB&T Corp., which reports $155.1 billion in assets, announced the recent promotion of Robert J. Johnson Jr. to general counsel, corporate secretary and chief corporate governance officer. The five-year employee's prior position was deputy general counsel and manager of the corporate, securities, tax practice group.

Julie Huston is now leading U.S. Bank's small business administration lending as president of its SBA division, the company said last month. She will operate from San Diego, where the SBA division is based.

The new president and CEO of SunTrust Bank, Central Florida, is David E. Fuller, a Sept. 9 statement said. Fuller is currently SunTrust's commercial banking strategy executive and head of Treasury and payment solutions. Ray L. Sandhagen will remain chairman of SunTrust Bank, Central Florida.

On the same day, parent SunTrust Banks Inc. said Patricia C. Frist retired from the board of directors. She was a director since 2000.

photo of Jonathan Worley
City National photo of Jonathan Worley

At City National Bank, a $21.2 billion institution based in Beverly Hills, Calif., Jonathan Worley was hired as VP of the wealth management division and head trader of brokerage subsidiary City National Securities. The bank said in a statement that Worley started his career 20 year ago as a mortgage-backed securities trader for Countrywide.

In Las Vegas, City National recently said Clay Overlien was appointed VP and financial sales advisor

Webster Bank EVP John Ciulla was named head of the company's middle market banking group and chairman of its regional presidents council. The $17.7 billion bank said Ciulla has been chief credit officer at the Waterbury, Conn.-based bank for more than two years. He was managing director at The Bank of New York from 1997 until 2004.

In Spokane, Wash., Sterling Financial Corp. said last month that it received regulatory approval to add Robert H. Hartheimer to its board of directors. Sterling has $9.7 billion in assets. Hartheimer previously was an FDIC division director.

Central Pacific Financial Corp., a $4.3 billion institution based in Honolulu, recently said that Lawrence D. Rodriguez was appointed EVP and CFO. He became a consultant for the company in January and previously was managing partner of Ernst & Young LLP's Hawaii office. Rodriguez reportedly has 40 years' financial services experience.

Timothy J. Stolly was elected as a director of Rurban Financial Corp.'s board. He was also elected to the board of subsidiary The State Bank and Trust Co., a $637 million institution based in Defiance, Ohio. Stolly is a co-owner of Stolly Insurance Group.

photo of Lawrence Rodriguez
Central Pacific photo of Lawrence D. Rodriguez

photo of Rick Robertson
Croghan photo of Rick Robertson

Steven C. Futrell retired as president CEO of Croghan Bancshares Inc. on Aug. 31 and was replaced by Rick M. Robertson, the $482 million bank reported in a filing with the Securities and Exchange Commission. Robertson was a senior executive of ViewPoint Bank and was the chairman of ViewPoint Bankers Mortgage Inc.

Hilton Head Island, S.C.-based CoastalSouth Bancshares Inc. announced in September that Ray Quinlan, Jim Hodges and Lee McCollum had joined its board of directors. Quinlan will serve as executive chairman.

The $429 million bank also said Charlie Christy was hired as chief financial officer.

At the Comptroller of the Currency, Stephen A. Lybarger was named deputy comptroller for licensing. Lybarger succeeds Larry Beard, who retired on Oct. 1. He has 26 years at the national bank regulator.

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

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