WASHINGTON -- The Office of Thrift Supervision wants to prohibit a former Alaska thrift chairman from working in the industry.
The agency said Thursday it is seeking a cease and desist order against Robert Gillam, former chairman and chief executive officer of Home Savings Bank, Anchorage.
The agency charged that Mr. Gillam had illegally created a golden parachute for himself at a time when the thrift was nearing collapse. The day after the thrift was declared insolvent, Mr. Gillam collected $177,000 in severance pay.