The troubled Franklin Bank Corp. of Houston said late Monday that it has named a new interim chief executive and received another extension for filing its 2007 annual report.
The $5.9 billion-asset thrift company had been in danger of having its stock delisted if it did not file its annual report and first-quarter earnings with the Securities and Exchange Commission by June 30. It said late Monday that the filing deadline had been extended to Sept. 15.
Andy Black, the chief operating officer and president of the Franklin Bank subsidiary, is the holding company's new interim CEO.
Anthony Nocella resigned as Franklin's CEO in May after a 10-week probe uncovered problems in its accounting for loans. Lewis Ranieri, the holding company's chairman, took over as interim CEO, and an executive committee was formed to oversee the day-to-day operations. The committee has been disbanded.