Sommer head of aquisitions Retiring - Focus on effectiveness! Good News
A company spokesperson said Sommer is exiting because the bank is no longer as acquisitively-minded as it has been in recent years. The position will not be filled.
“Mr. Sommer was instrumental in leading our acquisition strategy over the past several years and has significantly contributed to our success in his corporate development leadership role,” spokesperson David Lanzillo said in an email. “As we have said, we are very much focused on effectively running the company we have today.”
Did they finally realize how badly they did with those aquisitions?
Did it finally dawn on them how badly they scewed the share holders?
They are years away from turning this company around. They over paid
so badly for those branches there financials are a mess. The book value
dropped below $6.