Richard M. Riccobono, the former chief executive at the Federal Home Loan Bank of Seattle and one-time deputy director at the Office of Thrift Supervision, has landed a new job as the chief banking regulator in Washington State.

The Puget Sound Business Journal reported Friday that Riccobono will take over as director of banking at the Department of Financial Institutions on July 18. Riccobono will be in charge of overseeing Washington's 79 state-chartered banks and will report to the agency's director, Scott Jarvis.

Riccobono had been a top official at the OTS for years before leaving in 2005 to become chief operating officer at the Seattle Home Loan bank. He was promoted to CEO two years later, but resigned last fall on the same day that the bank signed a consent agreement with its regulator, the Federal Housing Finance Agency, requiring it to boost its capital levels and improve its operations.

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