EVERETT — Frontier Bank announced a new team of executives Monday, part of an ongoing restructuring attempt aimed at fortifying the bank’s shaky footing.
The executives will oversee the four lending segments outlined in Frontier’s new business plan, which includes a scaled-back real-estate loan sector.
Real-estate lending has been the Achilles’ heel of Frontier for about a year, when the bank’s loan portfolio was slammed by the crumbling real estate market.
A federal-issued cease and desist order explicitly requires that the bank de-emphasize commercial real-estate loans — and take a hard look at management structure.
“The bank has successfully reduced its construction and development loans and commitments by over $1 billion in the past 12 months,” according to a statement from Frontier. “Real-estate lending will be a continuing part of the revised business model, but at a reduced level.”
The bank’s strategy includes an added emphasis on commercial and retail banking along with private client services.
Jim Liming, 58, will lead commercial banking for Frontier. He started Frontier’s Seattle office in 2003 and was more recently the regional manager of the bank’s metropolitan division.
Jeff Lewis, 42, will be executive vice president of retail banking, in which he’ll orchestrate the bank’s new emphasis on small-business banking. Lewis has been with the bank for two years as a senior vice president and senior branch operations manager.
Lyle Ryan, 57, will lead private client services, focusing on expanding Frontier’s wealth- management offerings. He’s been with the bank 30 years.
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