Gibraltar Expected to Name Boyle as Its Chief Executive

James R. Boyle is expected to be named today as chief executive of Gibraltar Savings in Simi Valley, the largest savings and loan in the nation being operated under federal supervision.

Boyle succeeds John Carr, who took the job after regulators seized the ailing institution in March.

Carr, a former First Nationwide executive, could not be reached for comment, but a company source said he left on good terms. Carr’s contract was up, the source said, and he wanted to move on. Carr has been taking such actions as selling Gibraltar’s mortgage-backed securities and junk bonds.

Boyle, who has been with Gibraltar since 1985, is Gibraltar’s former executive vice president and chief lending officer. Since June, he has been chief operating officer.

Gibraltar, with $10.5 billion in assets, is being operated under the supervision of Resolution Trust Corp., the federal agency created this summer to mop up the nation’s savings and loan mess.

The agency is actively trying to sell the thrift. About a dozen banks, thrifts and investor groups have expressed interest and are continuing to evaluate the thrift before making a bid. Gibraltar is expected to be sold early next year.

Gibraltar’s branch network is considered particularly valuable. It has 108 branches in California, Washington and Florida.