Grasshopper Bank in New York hires former Radius CEO as next leader

Grasshopper Bancorp in New York will soon have a new leader.

The $226 million-asset de novo said in a press release that it had hired Mike Butler as its next president and CEO, effective May 3. Butler will also join the board of Grasshopper Bank.

Butler previously served as president and CEO of Radius Bank, which was sold to LendingClub earlier this year. At Grasshopper, he will succeed Judith Erwin, who let the bank through the de novo process and has been its CEO since it opened in 2019.

Butler “is a highly accomplished executive with a successful track record leading tech-forward banking companies, elevating them to new heights and delivering great value for clients, employees and shareholders,” John Flemming, Grasshopper Bancorp’s chairman, said in the release. “He brings a unique and relevant perspective, and the energy and experience to double down on our commitments and lead our company into the future.”

Before joining Radius, Butler was president for national consumer finance at KeyCorp.

"I’m looking forward to partnering with the Grasshopper team to accelerate the existing business plan and enhance our business model,” Butler said in the release. “The vision has and will continue to be centered on making banking simple, secure, effortless and transparent.”

Grasshopper focuses on offering commercial banking products to technology companies and venture capital firms.