The founder and chief executive of Vantage Point Bank in Fort Washington, Pa., has resigned after more than four years with the bank.
The Philadelphia Business Journal
Tillman said his departure was a "mutual decision" between himself and the bank's board. He said the next step in the bank's evolution is to build its fee-based businesses, so it seemed a good time "to move onto my next project."
Tillman, a longtime local banker and consultant, founded Vantage Point in late 2007. The bank turned its first quarterly profit in early 2009, but it has lost close to $400,000 over the last two years.
Vantage Point, which now has $79 million of assets, has promoted President David Beazar to CEO. Beazar had been in charge of growing the bank's fee-based business lines, including insurance and wealth management.
