WASHINGTON In its latest move to put the failed Superior Bank FSB back on its feet, the Federal Deposit Insurance Corp. on Monday appointed John D. Broderick as its president and chief executive officer.
The FDIC also hired Hanover Capital Mortgage Holdings to help value and market the Hillsdale, Ill., thrifts loan production and servicing operations.
Mr. Broderick was the director of retail banking at the former American Savings Bank of Irvine, Calif., before the $13 billion-asset company was bought by Washington Mutual Inc. Previously, Mr. Broderick was chairman and chief executive of ITT Residential Capital Corp. and ITT Consumer Financial Corp. and has held senior management positions at Citicorp, Chase Manhattan Bank, First NH Bank, and Crocker National Bank in California.
Superior was seized by regulators on July 27, and its resolution is expected to cost more than $500 million.