Mechanics Bank in California Names CFO, Two More Execs

Mechanics Bank in Walnut Creek, Calif., has named three senior financial executives, about five months after a Dallas investment group acquired a majority stake.

The $3.5 billion-asset Mechanics named C.J. Johnson chief financial officer, Nathan Duda chief accounting officer and Fernando Pelayo controller, according to a Wednesday news release.

Johnson was previously with Ford Financial, the Dallas group that bought a controlling interest in Mechanics. Johnson also previously worked for Santa Barbara Bank & Trust and Credit Suisse.

Johnson replaced Clinton Chew as CFO. Company spokeswoman Hatti Hamlin declined to comment on the reason for Chew's departure.

Duda previously was chief accounting officer at the $6.4 billion-asset Banc of California in Irvine. He joined Mechanics in July, according to his LinkedIn profile. The chief accounting officer position at Mechanics is new.

Pelayo was previously controller at Banc of California.

Mechanics has not yet found a chief executive to replace Christa Steele, who left the bank in June. President Kenneth Russell will continue serving as CEO in the near term, Hamlin said.

"It may be that he will stay for several months more," Hamlin said. "They don't have any clear candidate on the horizon at this point."