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Jefferson’s deal for Carrollton Bancorp is part of the PE-backed company’s plan to expand to $1 billion of assets, which CEO Cashen says is a must in today’s world.
April 9
Carrollton Bancorp (CRRB) announced Thursday that its chief financial officer had resigned from the company roughly 75 days after it hired him.
The $480 million-asset company in Lutherville, Md., disclosed in a regulatory filing Thursday that Edward J. Schneider had quit the company and its Bay Bank unit "so that he could pursue other opportunities." The company said the resignation was not caused by any disagreement.
The company has appointed David E. Borowy, its senior vice president of finance, as its interim CFO.
The company was previously known as Jefferson Bancorp and took on the Carrollton name when it acquired that $365 million-asset company earlier this year. When Schneider was hired on May 15, the company said that he was brought on to provide strategic growth planning and operational direction. Prior to joining Carrollton, Schneider, a 27-year industry veteran, had served as CFO and treasurer of Annapolis Bancorp. F.N.B. Corp. (FNB) in Hermitage, Pa., acquired the Annapolis, Md., company in April.
Borowy has served as interim CFO before. The company said in the filing that he held the role from April 24 to May 13 of this year, roughly the time between the closing of the Jefferson-Carrollton deal and the hiring of Schneider.
