First Union opens with slow service

Article Abstract:

First Union Corp., the Charlotte, NC-based bank that acquired Philadelphia, PA-based CoreStates Financial Corp. for $17 billion, opened the former CoreState Bank branches with slow service on Nov. 6, 1998. Long lines greeted former CoreState Bank customers, albeit months of preparations made by First Union to prevent glitches that could delay the transition and consequently slow down service. According to First Union officials, the slow service on the first day was caused by the large number of people who swarmed to the first opening day of the former CoreState Bank branches. It was also due to the fact that CoreState Bank tellers are still adapting to the new system, new forms and new products that First Union offers.

Comment:

Opens former CoreState Bank branches with slow service on 11/6/98

Services information, Financial Holding Companies, Offices of Bank Holding Companies, First Union Corp.

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Bank chief's resignation surprises industry

Article Abstract:

Delaware First Financial Corp.'s chief executive for 16 years, Ronald P. Crouch, has announced his resignation effective May 20, 1998, citing his intention to pursue new and diversified opportunities outside of the bank. Crouch's resignation comes after the thrift bank converted from depositor ownership to public stock ownership in Dec. 1997, upon insistence of federal regulators. No interim replacement has been named during the search for Crouch's successor. The resignation of Crouch, a member of the board a national trade group for thrift banks, America's Community Bankers, caught the banking community unaware in Delaware and nationally.

Comment:

Chief executive Ronald P Crouch has resigned effective 5/20/98 citing his intention to pursue new opportunities outside the bank

Savings & Loan Assns, Savings Institutions, Savings and loan associations

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First Financial Corp. names interim president

Article Abstract:

Delaware First Financial Corp. has named Vice Chairman Ernest J. Peoples as the company's interim president and chief executive. Peoples is replacing Ronald P. Crouch, who suddenly resigned from the company. Peoples is to head the company until a new president is hired. Peoples was a former director of Delaware First Bank and he is currently chairman of the board's executive committee and vice chairman of the overall board. Delaware First has been driving its profits upward and has grown by opening two branches and entering the business lending operations.

Comment:

Names Vice Chairman Ernest J Peoples as the co's interim president and chief executive, replacing Ronald P Crouch

Financial Services, Finance and Insurance

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