A LEGACY TO BANK ON\Retiring CEO put customer first.Byline: Deborah Deborah (dĕb`ōrə), in the Bible, prophetess and judge of Israel, the only woman to hold that office. Under her guidance Barak conquered Sisera and delivered Israel from the oppression of the Canaanite King Jabin. Adamson Daily News Staff Writer David H. Hender did not build TransWorld Bank by offering customers thrills Thrills is a Canadian brand of chewing gum now made by Concord Confections, but once produced by Wonka. It is well known for its distinctive rosewater flavour. Comparisons of its flavour to soap are so prevalent that recent packaging states "it still tastes like soap!" but by making sure they were treated well. "It's not a terribly exciting business. You don't click your heels when you leave the bank and say, 'Boy, that was exciting,' " said the president and chief executive of the Sherman Oaks-based bank. "But if you get lousy lous·y adj. lous·i·er, lous·i·est 1. Infested with lice. 2. Extremely contemptible; nasty: a lousy trick. 3. service, you let the world know about it." Since 1953, the bank has sought to maintain good relations with its customers. Hender hopes that tradition will continue when he retires in May 1997 after 25 years of service. Hender will keep his seat on the board of directors. The leadership role will be filled in a two-step process by Craig D. Collette, president and chief executive of Landmark Bank in La Habra La Habra (lə hăb`rə), city (1990 pop. 51,266), Orange co., S Calif.; inc. 1925. A suburb of Los Angeles, La Habra was settled in the 1860s by Basque sheepherders. . Starting this May, Collette will take on the titles of president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , and Hender will serve as vice chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. until his retirement in 1997. Collette will then become CEO, as well. "David is David I, king of Scotland David I, 1084–1153, king of Scotland (1124–53), youngest son of Malcolm III and St. Margaret of Scotland. During the reign of his brother Alexander I, whom he succeeded, David was earl of Cumbria, ruling S of the Clyde probably the warmest bank president I have ever known," said Stuart Zimring, a North Hollywood attorney and outside counsel for the bank who's known Hender for 20 years. "The bank bears the stamp of his personality - good, absolutely rock-solid management, and they care for the customer. They understand that without the customer, there is no bank." Hender joined the bank in 1971 as president and CEO. At the time, it was an institution struggling to find an identity. "It was without direction. It was a small bank trying to survive," he said. He decided to target small and medium-size businesses and professional occupations such as doctors and lawyers, serving their capital needs. "Over the years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time larger banks have not really been interested in small business," he said. "We found a niche." From $18 million in assets and three branches, TransWorld has grown steadily to $360 million and 11 branches. A new branch is planned for Valencia. For fiscal 1995, the bank reported record earnings of $4 million ($1.45 a share) compared with $2.6 million (94 cents) in the previous year. Interest income was $26 million in 1995 compared with $21 million in 1994. Noninterest income was $4 million vs. $3.9 million. Total assets were $360 million last year vs. $371 million in 1994. In his 25 years as a Valley banker, Hender has seen plenty of transformations. "The biggest change I've seen is the consolidation in the industry. There's been a centralization cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. of authority away from the branch manager. With it has gone the personal relationship between the bank and customers," he said. "Our style is to maintain the responsibility in the branches," he added. It's also not TransWorld's style to use negative advertising to woo customers away from much bigger banks. Hender doesn't like it, and it's expensive. Working for a small bank is just fine with Hender. But he does want it to grow."Our real interest right now is to remain independent and build the bank." CAPTION(S): PHOTO Photo (color) David Hender, president and CEO of Sherman Oaks-based TransWorld Bank, will retire in 1997 after 25 years of service. Phil McCarten/Daily News |
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