Genesis Financial Partners has nominated two former bankers as alternative candidates for the board of directors at Massachusetts' Central Cooperative Bank.
Genesis, a hedge fund, is supporting Carl M. Hanson, former chief financial officer of $2.1 billion-asset Amoskeag Bankshares in Manchester, N.H., and Dennis J. Kelleher, former treasurer of four subsidiaries of Bank of Boston Corp., for election to the Central board.
The fund is also proposing two shareholder resolutions calling for the elimination of Central's anti-takeover provisions and urging the sale of the Somerville-based thrift.
Earlier this year, the fund had nominated two of its officials as directors of another Massachusetts thrift.
Genesis had nominated Stephen H. Gordon and Brandt W. Johnson for election to the board of Lawrence Savings Bank, whose shareholder meeting was scheduled for May 7. Results have not been released yet.
Mr. Gordon and Mr. Johnson, former investment bankers at Sandler O'Neill & Partners, are the top officials of Genesis general partner Gen Fin Inc. Lawrence officials, however, have been arguing that the two have no prior banking experience and could contribute nothing to the running of the thrift.
In the case of Central, Genesis attorney Jonathan Joseph said, bylaws require that all directors be Massachusetts residents.
The Central nomination follows the defeat two weeks ago by shareholders of a third Massachusetts thrift, Abington Savings Bank, of a Genesis proposal that it either cut costs by 20% or put itself up for sale.
