Succession planning

The former C1 Financial chief, expected to play a critical role at Bank of the Ozarks, resigned just a week after his company's sale. Thanks to a lengthy noncompete, it could take years to determine his next move.

Banks must come to grips with the fact that adapting to the industry's transformational changes means having new faces in the corporate suite.

FirstBank Holding in Lakewood, Colo., will have a sole chairman after one of its co-founders announced plans to step down.

Umpqua Holdings in Portland, Ore., will have a new chief executive in 2017. The company said Monday that Ray Davis, 67, will step down as president and CEO, effective Jan. 1. Davis, who will become executive chairman, will be succeeded by Cort O'Haver, who was named president of Umpqua Bank in April.

Tim Sloan, president and COO at Wells Fargo, is widely viewed as next in line to take over as CEO of the bank. He discussed the speculation — as well as energy lending, credit standards, living wills and a number of other topics — in a recent interview.

It's tough enough for people to rise to the top once in life. Getting there twice is harder still. Here are some notable examples of executives from that select, latter group.

John Garbarino will step aside as chairman of the $4.2 billion-asset company on Dec. 31, but he will turn over the job to a familiar face — Christopher Maher, who will remain president and chief executive, also.

Kelly King promised "additional announcements later this year" tied to long-term succession planning, and it was initially unclear if he was referring to his own retirement plans. BB&T later said that King would be CEO for the "foreseeable future."

The Office of the Comptroller of the Currency on Monday named Bryan Hubbard as the new deputy comptroller for public affairs.

As more fintech companies seek bank charters in the U.S., acquiring a community bank is one potential option.