D. Michael Hunter has abruptly resigned as president and chief operating officer of Victoria Bankshares, a leading community bank in Texas.
The reason for the departure was unclear, and Mr. Hunter could not be reached for comment.
"He did not discuss what his future plans were going to be," said Charles R. Hrdlicka, chairman and chief executive of the $1.8 billion-asset company, which is based in Victoria.
Post May Be Added
The executive committee of the company's board of directors has recommended that Mr. Hrdlicka be elected to the additional position of president.
Eventually, the board will decide if it wants to hire another president, Mr. Hrdlicka said.
Mr. Hrdlicka, who has been with the company for about 8 1/2 years, had been president for two years before Mr. Hunter signed on six years ago.
Victoria Bankshares is parent of Victoria Bank and Trust Co., which operates 36 branches in 29 communities in South Central Texas.
The second-largest bank holding company in Texas, Victoria has been performing solidly. Last year, it returned 1.07% on assets.
Meanwhile, Victoria closed a deal on Thursday to acquire Texas Commerce Trust Co., Corpus Christi.
Victoria has been focusing on noninterest income because of low loan demand in its market. For instance, the company has a correspondent network with 200 banks as well as a trust department.