After a second straight dismal quarter, Silver State Bancorp in Henderson, Nev., is looking for a new chairman and a new chief executive officer.
The $2 billion-asset company said Friday that it lost $62.7 million in the second quarter, after losing $14.4 million in the first quarter, as more of its residential construction loans soured.
Silver State also said that Bryan S. Norby has resigned as its chairman, and that Corey L. Johnson has stepped down as its president and CEO.
It attributed the second-quarter loss largely to a $58.6 million loan-loss provision, though it also reported an $18.8 million goodwill impairment charge.
Phillip C. Peckman has been named the acting chairman of the company and its Silver State Bank. Michael J. Thorell will be the acting president and CEO until a successor is named. Mr. Thorell became the chief lending officer and credit administration officer in June. Before that he had been CEO of Choice Bank in Scottsdale, Ariz., which Silver State bought in April.
Silver State's shares fell nearly 30% Friday.