of administrative expense ? P.Randolph Taylor , currently President and CEO of Delaware National Bank , will continue on as the head of Delaware operations ( probably with more , not less , salary and perks )........A paltry 12 branch operation, no doubt with more "managers" and "executives" than worker bees !!........
Couldn't this small operation have been folded right into the southeast operations of Fulton Bank ? State of Delaware can be driven north to south or east to west in an hour or two ! Wouldn't it have been more prudent to give Taylor a severance payment and let the current cadre of southeast region managers handle this small corner of the universe ?
Then again , perhaps within the confines of the Fulton Bank operation , there is absolutely no one with the expertise and business acumen , of P.Randolph Taylor , to run a huge 12 branch operation in the State of Delaware !!!!!!!!!!!!!!
Why do bank executives(?) , as a group , seem to have a penchant for using their first initial, rather than their given name ? Self-aggrandizing , ego maniacs with self perceived importance is my guess ? What say you.............
Very curious to see his salary , perks, etc. prior to and following this change.........
Delaware National's Management Team as a percentage of branches is well over 100%. They have approximately 1 commercial lender (i.e. AVP, VP, SVP, etc.) for each branch. They each have individuals on the Management Team listed as Commercial Lenders who, I would venture to say, have generated less than 5 new loans in the past 12 months. What's even worse is Delaware national Bank has presence in New Castle & Sussex Counties, but none in Kent (which lies right in between the two. How did Fulton let that one go for years on end?
"Why do bank executives(?) , as a group , seem to have a penchant for using their first initial, rather than their given name ? Self-aggrandizing , ego maniacs with self perceived importance is my guess ?"
Possibly. My guess is that they're just copying the first guy who did it (because he got a huge salary they envied.) They're basically a bunch of trend following lemmings.
Some of them also use just their first name as their signature. Those are the self-aggrandizing , ego maniacs - i.e., "I'm so phuking important you don't need my last name to recognize me."
Also, I would guess that Scotty merged DNB into Fulton to cover up DNB's NPA and capitalization ratios and poor performance. That's what happened with Resources Bank and the other mis-acquisitions that blew up.