by Lance Turner
Posted 10/25/2012 05:01 pm
Updated 1 year ago
Gerald F. "Jerry" Pavlas has been named president, CEO and director of One Bank & Trust of Little Rock, the company announced Thursday.
The company said the appointment has been approved by the Office of the Comptroller of the Currency and is effective immediately "on an interim basis."
The company said the appointment will become permanent once final OCC approval is received.
"I am honored and excited to have this opportunity here at Onebanc," Pavlas said in a news release. "I have had the opportunity to meet personally with many of the Onebanc family and believe there is a solid foundation for continued stability and exceptional customer service."
The announcement comes after the OCC ordered the firing late last month of Layton "Scooter" Stuart as CEO, president and chairman of the board of the company, according to a document released last week.
The "prompt corrective action directive" issued by the OCC on Sept. 28 confirmed widespread speculation that Stuart, who owns almost all of the bank's stock, was removed by force.
Arkansas Business broke the news on Oct. 15, but the bank - which does business as Onebanc - only confirmed his departure without offering any explanation or details.
Pavlas most recently was CEO of Southwest Securities of Dallas. One Bank said he has experience addressing the regulatory needs of banks, including the reorganization of Hibernia Corp., now known as Capital One.