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Gold Coast Bank in Islandia, N.Y., is beginning its second round of financing after announcing that its fourth-quarter profit more than doubled.
February 19 -
Executive pay packages have long been structured to reflect performance. But one key task that often gets short shrift from bank directors and CEOs is succession planning. Now pressure is mounting for that to change.
May 13 -
Board members and prospects are nervous about personable liability, given a rise in government lawsuits against former directors of failed banks. While banks typically carry insurance for directors, it is unclear how much protection those policies provide.
April 17
Gold Coast Bank in Islandia, N.Y., announced that Chief Executive Joseph Perri has resigned.
The $244 million-asset company said in a press release that John C. Tsunis, its chairman, has been named CEO, while James P. Johnis has been named president. Johnis joined the bank earlier this month as its chief operating officer. He was previously a senior commercial banking officer at The First National Bank of Long Island in Glen Head, N.Y.
Perri stepped down "to pursue other opportunities," the company said in a press release, following "several years of successfully steering the bank through a period of steady growth." Gold Coast was founded in 2008.
Meanwhile, the bank says it will continue a planned expansion into Manhattan.
"We look forward to continuing on the path we set forth when we formed our community bank -- which includes venturing into New York City to best serve our clients, whether they are in Manhattan or Long Island,"
Tsunis said in the release. "We are enthusiastic about what lies ahead."
