Rich Weaver has retired as commissioner of the Missouri Division of Finance.

Weaver began his career with the agency 19 years ago. In 2004 he was appointed the division's deputy commissioner and was promoted to commissioner in April 2009. His retirement is effective today.

"Rich has been a proven asset to our department,” John Huff, director of the Missouri Department of Insurance, Financial Institutions and Professional Registration, said in a press release.

During Weaver's tenure, total deposits held by Missouri state-chartered banks reached an all-time high, totaling $84.1 billion at the end of March.

Debra Hardman, deputy commissioner and a 30-year veteran of the agency, will serve as acting commissioner during the search for Weaver's successor. Christie Kincannon, the division's chief counsel, will assume the joint role of chief counsel and acting deputy commissioner during the search period.

The Missouri Division of Finance regulates 261 state-chartered banks, the fifth-most nationwide. It also oversees business activities for mortgage brokers and originators, savings and loan institutions, trust companies and consumer credit facilities.

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