Bancorp 34 in Alamogordo, N.M., will soon have just one president and CEO.
The $457 million-asset company said in a press release Friday that Jill Gutierrez, who shares the titles with James Crotty, will retire at the end of September. Gutierrez, who was 69 when the company filed its proxy statement in late May, will remain on the board.
Crotty, a former director at Keefe, Bruyette & Woods, was named co-president and co-CEO six weeks ago. While at KBW, Crotty advised community banks on a variety of strategic initiatives, including capital raising and acquisitions.
Gutierrez, who has worked in banking since 1972, joined Bank 34 in 2007. She became the company's president and CEO in July 2011.
Under her leadership, Bancorp 34 entered the Phoenix market, buying the $87 million-asset Bank 1440 for $8 million in cash and stock in August 2014. Two years later, Gutierrez led Bancorp 34’s second-step conversion.
Bank 34
The company has made 277 Paycheck Protection Program loans, totaling $36.1 million.
“We wish Jill an enjoyable and family-filled next chapter and are happy she will continue to serve by our side on the Board,” Bancorp 34 Chairman Randall Rabon said in Friday's release. “She was instrumental in leading the bank out of the Great Recession and served as our leader in strengthening the culture and credit standards we enjoy today.”
