CertusBank Fires Top Execs; Interim Named

CertusBank Fires Top Execs; Interim Named (Image 1)
CertusBank Fires Top Execs; Interim Named (Image 1)

CertusBank, based in Greenville, S.C. announced today it fired 3 top executives.

It also announced it has appointed John Poelker as its interim president and CEO.

Milton Jones, Walter Davis and Angela Webb were fired as executive chairman, CEO and president of CertusBank.

According to the FDIC Certus has lost more than $84 million.

American Banker reports that a group of investors held an emergency conference to discuss getting rid of the board over what they say some call “gross mismanagement by senior executives.”

They report some of the concerns were:

  • Nearly $10 million payment to consulting firm owned by Certus’ top officers.
  • $146,000 for 3 months work by executive’s son – just out of college.
  • $2.5 million for 3 executives appartments and high-end upgrades.
  • $347,000 for private plane trips.
  • $131,000 for Carolina Panthers games

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