Baker, Shipman to head Great Financial Bank, FSB.LOUISVILLE, Ky.--(BUSINESS WIRE)--November 4, 1994--Great Financial Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GTFN) today announced that Paul M. Baker, chief executive officer of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Great Financial Bank, FSB (FrontSide Bus) See system bus. FSB - front side bus , will assume the duties of chairman of Great Financial Bank, while Jack H. Shipman ship·man n. 1. A sailor. 2. A shipmaster. will become the bank's 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. , effective January 1, 1995. As Baker assumes the role of chairman of Great Financial Bank and continues in his role as 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. of the bank, he will concentrate on business development, mergers and acquisitions, and long range and strategic planning. He will also continue as president and chief executive officer of the bank's parent, Great Financial Corporation. In joining Great Financial Bank as president and COO, Shipman will be responsible for day-to-day community banking activities. In this capacity, he will oversee the introduction of new consumer products and work to implement new technology and the delivery of new financial services to expand Great Financial's consumer base. Shipman will also serve on the bank's board of directors and as executive vice president of Great Financial Corporation. Prior to joining Great Financial, Shipman served as executive vice president of Liberty National Bank Corp., where his career as a bank officer spanned more than 20 years. At Liberty, Shipman headed retail banking operations and was responsible for implementing several innovative programs during his tenure, including automating and upgrading various functions and services. Shipman has also served on the board of directors of the American Bankers Association The American Bankers Association (ABA) is comprised of banks and other financial institutions. It seeks to promote the strength and profitability of the banking industry by Lobbying federal and state governments, building industry consensus on key issues, and providing products and (ABA) and the Consumer Bankers Association (CBA See Capital Builder Account. ), and currently serves on the CBA Consumer Finance Committee. President of the Consumer Bankers Association Joe Belew states that, "Jack Shipman is recognized as a leader in retail banking. He is highly respected by his peers as an innovator and has a tremendous reputation for taking Liberty, while under his management, in new directions." The Consumer Bankers Association is the leading trade group for retail banking. Great Financial Corporation Board Chairman Jack E. Hartz, will serve as vice chairman of the bank and as chairman of its executive committee. Hartz preceded Baker as president and CEO of Great Financial Federal, now Great Financial Bank, FSB. Great Financial Bank, FSB is Kentucky's largest savings bank with assets of $1.8 billion. It serves Kentucky through 39 offices located in Louisville, Lexington, Owensboro and surrounding communities. CONTACT: Great Financial Corporation, Louisville Robert T. Freeze, 502/587-8891 |
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