Four months after calling off his deal to buy Gold Banc Corp. in Kansas, the veteran banker C. Stanley Bailey has emerged as the chief executive officer of a $1.4 billion-asset Alabama banking company.
The Banc Corp. in Birmingham announced Monday that Mr. Bailey and three other bankers had acquired a 4.9% stake and assumed top management positions.
All four had worked at Superior Financial Corp. of Little Rock before it was sold to Arvest Bank in 2003.
James A. Taylor remains The Banc Corp.'s chairman but relinquished the job of CEO. His son, James A. Taylor Jr., gave up the titles of president and chief operating officer but remains a board member.
The Banc Corp. has not reported fourth-quarter earnings, but in the third quarter it lost $830,000 after charging off $32 million of problem loans.
In September, Silver Acquisition Corp. - Mr. Bailey and a group of investors - terminated an agreement announced in February to buy Gold Banc Corp., of Leawood, Kan. Silver had a sought a reduction of the $672 million price to reflect Gold's agreement to pay $16 million to settle a lawsuit.
Gold refused to renegotiate.
