Sandy Spring in Md. Loses Credit Chief

By Chris Cumming October 04, 2013, 12:56 p.m. EDT 1 Min Read

Community banking

Patapsco in Md. Names New CEO After Quarterly Loss

Patapsco Bancorp (PATD) in Baltimore has appointed Phil Phillips its new chief executive after recording a quarterly loss.

By Chris Cumming

August 5
Community banking

Sandy Spring in Maryland Boosted by Home Loans in 1Q

Fees from residential refinancings propelled Sandy Spring Bancorp (SASR) in Olney, Md., in the first quarter.

By Brian Browdie

April 18

The chief credit officer of Sandy Spring Bancorp (SASR) in Olney, Md., has left the company.

Jeffrey Welch resigned from the $4.1 billion-asset lender at the end of August, the company disclosed in a regulatory filing Friday. No successor was named.

Sandy Spring will continue to pay Welch a salary and offer him health benefits through August 2014, the filing said.

Welch, 53, had been Sandy Spring's chief credit officer since 2008.

Chris Cumming

MORE FROM AMERICAN BANKER

Treasury Department

Bessent to be Treasury nominee, Trump taps Turner for HUD

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

By Kyle Campbell

6h ago
Artificial intelligence

Fed's Bowman: Regulators 'must have an openness' to AI

While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.

By John Heltman

10h ago
Succession planning

First Foundation's new CEO has history of priming banks to sell

The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the industry in 2022.

By Catherine Leffert

11h ago
Federal Reserve

Fed: Elevated asset valuations could threaten financial stability

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

By Kyle Campbell

November 22
SBA

A small-dollar business lending scheme finds a niche at Huntington

The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.

By John Reosti

November 22
Payments

JPMorgan Chase, Mastercard sell crypto-style B2B payment tech

The bank and payment company are using the technology that underpins digital assets to improve interoperability for international transactions, a major point of friction in trade finance.

By John Adams

November 22