The president of Frontier Financial Corp.'s bank unit said he was fired for trying to use vacation time.
The $3.6 billion-asset company in Everett, Wash., on Thursday announced that John J. Dickson had left his job as the president of Frontier Bank and quit the board of the bank and the company following a dispute over a scheduled vacation.
In a letter to Patrick Fahey, the chairman and chief executive of the company and the bank, Dickson said he was resigning from the boards, following "your termination of my position."
Fahey was promoted to his current role in 2008, as Dickson was stripped of his duties as president of the company and CEO of the company and the bank. The Federal Deposit Insurance Corp. has issued a prompt corrective action directive to the bank, giving it until April 15 to regain adequately capitalized status or face possible failure.