Norman M. Jones, chairman and chief executive officer of Metropolitan Financial Corp., has assumed the CEO title at its savings bank subsidiary, Metropolitan Federal Bank, Minneapolis.
The consolidation of titles at the holding company and subsidiary level follows the departure of Stan K. Dardis, who had been president and chief executive officer of the bank.
Mr. Dardis, who also was an executive vice president of the holding company, resigned to pursue other career opportunities, the company said.
Under the new structure, the three regional presidents of Metropolitan Federal Bank will report to Mr. Jones.
The changes also correlate with the decision to spin off Edina Realty and Equity Title as a separate, publicly traded company, leaving Metropolitan Financial to focus on its core thrift business. Mr. Jones said.
The thrift is now better suited to grow through acquisitions, he said.