Eloy Ortega, the CEO of the Bank of Santa Barbara since 2009, stepped down on 5/1, according to chief operating officer and interim CEO Joanne Funari. Although Funari declined to comment on reasons for Ortega’s departure, the change comes after an order from the Federal Deposit Insurance Corporation in February for the bank to comply with the Bank Secrecy Act, fix “internal control weaknesses,” and implement a Secrecy Act compliance policy. Funari said the bank now has a “full compliance department.” The bank will be “looking at internal and external candidates” to permanently fill Ortega’s position, Funari said.
More like this story
- JOANNE FUNARI JOINS THE BANK OF SANTA BARBARA AS EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER
- Bank of Santa Barbara Goes Local
- Two Santa Barbara Banks Complete Merger
- The Bank of Santa Barbara Honored with Findley Award for “Premier Performance”
- The Bank of Santa Barbara Welcomes Gail Jensen-Bigknife as Executive Vice President and Chief Credit Officer