A Top Integra Exec Quits for Start-Up

Integra Financial Corp.'s chief operating officer announced today that he will leave the bank to form a private investment partnership.

Leonard M. Carroll was slated to become a vice chairman of National City Corp., a Cleveland-based bank holding company, upon its merger with Pittsburgh-based Integra. The deal is expected to close in the second quarter.

In a prepared statement, Mr. Carroll said, "This is something that I've wanted to do for many years - go and find companies that are outgrowing their existing capital and ... help influence their performance."

Mr. Carroll's partnership plans to invest in companies primarily in Pennsylvania, Ohio, and West Virginia.

National City chairman David A. Daberko said in the statement that the banking company intends to invest in Mr. Carroll's firm.

Mr. Carroll said he would remain a shareholder in National City.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER