American Community Bancshares Inc. in Charlotte, N.C., has fired its chief credit officer.
The $530 million-asset company disclosed in a Securities and Exchange Commission filing Wednesday that it had fired Harry C. Parlier two days earlier, but it gave no reason. Calls to the company were not returned.
Mr. Parlier was hired as the credit chief in April 2006, according to an SEC filing at that time. Previously, he was a bank consultant and, before that, had worked 35 years at Bank of America Corp.
Last week American Community reported that its second-quarter net income fell 60% from a year earlier, to $484,000, or 7 cents a share.
Loan rates had fallen more quickly than deposit rates, causing a 105-basis-point contraction in its net interest margin, to 3.23%.
