Superior Bancorp in Birmingham, Ala., has named C. Marvin Scott as its chairman and chief executive and Rick Gardner as its president.
Scott and Gardner succeed the retiring Stanley Bailey, who held all three posts since 2005. The company said Monday that the changes were consistent with its management succession plan. Scott has been a Superior vice chairman and CEO of the thrift unit since October 2009. Gardner has also served as a vice chairman of the company, and he has been the thrift's president since 2009.
The $3 billion-asset company has not filed fourth-quarter results, but data from the Federal Deposit Insurance Corp. shows that the thrift was critically undercapitalized at Dec. 31, with a 1.41% leverage ratio and a 3.49% total risk-based capital ratio. A November order with the Office of Thrift Supervision called for those ratios to rise to 10% and 14% by March 31.
