Bank Plus Corp. said it had completed the restructuring of its management team by appointing three executives to it.

The company also said it has changed its executive compensation package to make it easier to sell the company.

The new team has four members, down from seven.

Newly appointed are John M. Michel, 39, who was named executive vice president and chief financial officer; Godfrey B. Evans, 44, named chief administrative officer; and Richard M. Villa, 34, named director of finance and treasurer of the company's main subsidiary, Fidelity Federal Bank.

Also on the team is chief executive officer Mark K. Mason. Bank Plus hired Mr. Mason in June to turn around the business after problems surfaced in its subprime credit card portfolio. The company has since said it would consider selling.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.