ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release April 18, 2005 #05-15
E-mail: [email protected]

ACB STATEMENT ON THE RESIGNATION OF OTS DIRECTOR JAMES GILLERAN

Press Release Tools
	E-mail This Press Release
	Printer-Friendly Format

Statement by Diane Casey-Landry, president and CEO, America’s Community Bankers, on the resignation today of Office of Thrift Supervision director James E. Gilleran:

Jim Gilleran did an outstanding job as Director of the Office of Thrift Supervision. As a former banker, Jim understood today’s industry and the many challenges it faces. Under his leadership, OTS supervised an industry that dramatically increased its capital levels while also setting records for profitability, return on assets and return on equity. At the same time during his tenure, the industry faced a very different world, with many new challenges from consolidation to the new regulatory requirements, including the Sarbanes Oxley Act, the Bank Secrecy Act and the USA Patriot Act.

Jim recognized these new challenges and worked with the banking industry to address a number of issues, including streamlining CRA examinations for both large and small savings institutions, reducing regulatory burden and combining safety and soundness and compliance examinations to reduce the time and burden on small and mid-size community banks. He also worked to ensure OTS’s designation as a consolidated supervisor under the EU directive.

Jim’s greatest asset was his openness and willingness to listen and address industry concerns. We always knew that with Jim we would get a fair hearing and an open mind. The thrift industry is better for his leadership and service and the thrift charter is as strong as it ever has been. We wish Jim well in his future endeavors.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

-30-