Premier Bank Chief Steinmann Resigns
Peter Steinmann, president and chief executive of Premier Bank since the Northridge-based financial institution opened five years ago, has resigned. He is the second senior executive to quit during the past two months at the bank, which lost $69,000 the first half of 1986.
The leading candidate to replace Steinmann is Robert Giacobbe, who was Premier’s chief financial officer and executive vice president until being named acting president upon Steinmann’s resignation on Sept. 19.
Steinmann could not be reached for comment. Giacobbe declined to discuss in detail Steinmann’s reasons for leaving, saying only that the executive had “some differences of opinion with the board, and he resigned as a result of those differences.”
Giacobbe said he has talked with Premier’s board about becoming president, and that he expects to get the job. Aaron Feder, Premier’s chairman, said the board isn’t considering any other candidate.
Giacobbe, 42, has spent 19 years in banking, with 14 years at Union Bank and two years at Lincoln National Bank. He joined Premier in 1983.
Steinmann, 62, has spent 35 years in banking, in positions including ones at Crocker Bank and TransWorld Bank. As president of Premier, he earned an annual base salary of $85,000.
Last month Premier disclosed the resignation of John Fischette, who was the bank’s No. 3 executive as its senior loan officer and a senior vice president. He was replaced by Gabriel Etcheverry, who worked with Giacobbe at Union Bank.
Premier, founded in 1981 as Northridge Bank, has its four branches in Thousand Oaks, Woodland Hills, Ventura and Northridge. It reported assets of $66.2 million on June 30.
Last year it barely broke even, earning $23,000.