First PacTrust to Replace Its CFO


Two months after the resignation of its chief executive, First PacTrust Bancorp (BANC) is poised to switch chief financial officers.

Marangal Domingo will resign as the CFO of the Irvine, Calif., company and its Pacific Trust Bank unit immediately after filing its 10-Q report for the third quarter, according to a press release Tuesday. The $1.6 billion-asset First PacTrust is scheduled to announce quarterly results after the market closes on Thursday.
Ronald J. Nicolas Jr., who has served as a consultant to First PacTrust since October, will become the CFO of First PacTrust after Domingo steps down. He became an executive vice president of First PacTrust on Monday.

Nicolas has previously served as the CFO for several companies, most recently for Carrington Holding Co., which manages investment funds, originates and services residential mortgages and handles real estate sales. He also served in several roles at KeyCorp (KEY), including as treasurer and CFO of KeyBank USA from 1994 to 1998.
Lonny D. Robinson will become the CFO of Pacific Trust following Domingo’s resignation. Before joining Pacific Trust, he was CFO at the $2.8 billion-asset Hanmi Financial (HAFC).
Craig S. Naselow will become treasurer and chief investment officer for First PacTrust and Pacific Trust. He previously served as treasurer at Aris Development since 2009. Before that, he was a treasury and liquidity consultant to Union Bank, a unit of the $88.2 billion-asset UnionBanCal.
Gregory Mitchell, who became chief executive of First PacTrust in November 2010, resigned in September about a month after the company said that Mitchell would share the CEO title with Steven A. Sugarman. Sugarman led a recapitalization of First PacTrust two years ago.




Payments Must Get 'Better, Faster, Sooner': Comments of the Week

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of articles and from social media platforms and the blogosphere.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.