Merchants Bank in Pa. Hires Fulton Financial Exec as Chief
Merchants Bank of Bangor in Pennsylvania has hired the president of nearby bank as its new leader.
The $359 million-asset Merchants said in a press release Friday that Rocco Del Vecchio will succeed Anthony Biondi as chief executive on Aug. 22. Biondi is retiring after 12 years on the job.
Del Vecchio previously was vice chairman, president and chief operating officer of the $1.5 billion-asset Lafayette Ambassador Bank in Bethlehem, Pa., which he joined in 2000. Lafayette Ambassador is owned by Fulton Financial in Lancaster, Pa.
A new exam handbook released by the Office of the Comptroller of the Currency is sparking concerns that the agency is quietly expanding heightened regulatory guidelines meant for larger banks to smaller institutions.August 11
Merchants Bank of Bangor in Pennsylvania has tapped its chief operating officer, Tracey Smith, to become chief executive next year.September 17
The combination of higher regulatory expenses andreduced income from interchange fees is taking a toll on the profitability of banks with $10 billion to $50 billion of assets.July 26
Merchants last year had named its chief operating officer, Tracey Smith, as CEO-in-waiting. However, Smith resigned earlier this year, a bank spokesman said.