Henke, Rusco Promoted at American Bank & Trust

American Bank and Trust Co. has named Frank X. Henke IV president of the bank and has promoted Greg W. Rusco to executive vice president and chief lending officer.
Henke, an attorney, has been with American, 6100 S. Yale Ave., since 1999, serving most recently as vice president of lending and as a director of the bank.
Rusco previously served as senior vice president and chief lending officer, having been with the bank since 1984.
Charles G. Meckfessel was elected vice chairman of the board. Meckfessel, an accountant, has been with the bank since 1982, most recently as president, and has been in the banking industry for 37 years.
Frank X. Henke III will remain as chairman of the board.
Frank X. Henke IV was a member of the 2007 Tulsa Business Journal Class of 40 Under 40. He earned a degree in political science at Northwestern University, Evanston, Ill., in 1999, and graduated with his law degree from the University of Tulsa College of Law in 2003
SpiritBank Gets $30 Millionin Capital Purchase Program
Tulsa-based SpiritBank, identified and approved by the U.S. Treasury Department for inclusion in the Capital Purchase Program, has received $30 million for reinvestment in the community.
The leverage capacity for this capital results in $300 million to lend and revitalize Oklahoma communities. Albert C. “Kell” Kelly Jr., SpiritBank CEO, announced that SpiritBank approved the bank’s involvement in the voluntary CPP program in March.
SpiritBank, with 17 locations across Oklahoma, has $1.25 billion in assets, placing it in the top 7 percent of banks in the nation.
“The Capital Purchase Program was designed for healthy banks and is just one component of the government’s economic recovery effort,” said Kelly. “Because SpiritBank is one of the state’s strongest banks, and because of our unique position in providing home mortgage financing across the state, we are well-positioned to deploy this money to stimulate the Oklahoma economy.”
Passage of the Emergency Economic Stabilization Act in late 2008 resulted in the formation of the Troubled Assets Relief Program (TARP). This gave the Treasury the ability to purchase up to $700 billion in “troubled assets.” Several weeks later, however, the government also created the Capital Purchase Program which made $250 billion of that money available to strong, highly regulated commercial banks so they could, in turn, reinvest the money in their communities.
The CPP funds are, in essence, a loan made by the U.S. Treasury to strong banks capable of reinvesting it in their communities. The capital is an investment, for which preferred stock is issued to the government. The funds must be fully repaid to the government at an interest rate of 5 percent per year for the first five years and 9 percent thereafter.
In addition to the terms requiring SpiritBank to repay the capital with interest each year, Kelly said the program also calls for participating banks to limit the amount of executive pay and bonuses received each year by these institutions.
“After a comprehensive review process, we’ve chosen to be involved in the Capital Purchase Program because we see it as an opportunity to help Oklahoma and to continue fostering our state’s entrepreneurial spirit.” said Kelly.
IberiaBank Corp. Changes Name of Pulaski Units
IberiaBank Corp. has announced it will change the names of its Pulaski Bank and Trust Co. and Pulaski Mortgage Co. subsidiaries.
Pulaski Bank and Trust Co. will be changed to IberiaBank fsb. The name change of the bank is expected to be effective on May 4, 2009.
The company has also decided to change the name of Pulaski Mortgage Co., a subsidiary of Pulaski Bank, to IberiaBank Mortgage Co. Pulaski Mortgage has a Tulsa location at 8022 S. Sheridan Road.
The name changes provide common branding across the company’s rapidly expanding footprint. Recent growth opportunities in nine states have been achieved through acquisitions and de novo expansion.
CCCO Elects Board
Credit Counseling Centers of Oklahoma has announced its 2009 board of directors and board officers, with Floyd Schulte, Public Service Co. of Oklahoma, elected to serve as CCCO board of directors chairman. Schulte has been an active member of the board for the last three years.
“Times are really tough for families right now. It is even more important during these challenging economic times that we educate clients and the public at large of the services CCCO provides. Almost everyone can benefit from some type of credit counseling. Mr. Schulte understands how important our services are for today’s consumers and is an excellent candidate to lead our board.” said CCCO President and CEO Margo Mitchell.
The other officers for 2009 include: Chair-Elect Phil Hart, Tulsa Federal Employees Credit Union; Vice-Chair Sissy Osteen, OSU; Secretary DJ Morrow Ingram, Oklahoma Credit Union League; and Treasurer Cheryl St. George, American Airlines. New board members this year include Steve Howe, JP Morgan Chase and Robert Wagner, Oklahoma Department of Consumer Credit.

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