Gerald Ernst has resigned as the president and chief executive of Community Bank of Arizona in Glendale.
The $83 million-asset bank, a subsidiary of the $1.6 billion-asset Community Bancorp in Las Vegas, said late Monday that Mr. Ernst had left "to pursue other business interests." In September, Community Bancorp bought the $72 million-asset Cactus Commerce Bank and renamed it Community Bank of Arizona.
Edward M. Jamison, Community Bancorp's chairman and CEO, was appointed the bank's interim president and CEO. In an interview Tuesday, Mr. Jamison refused to say why Mr. Ernst left, but James Bradshaw, an analyst at D.A. Davidson & Co. in Portland, Ore., said the parent company has been frustrated by the unit's lackluster growth. Attempts to reach Mr. Ernst for comment were unsuccessful.
