Kemper Named to Succeed Luce at Ailing Great American Bank

Great American Bank in San Diego on Friday named longtime banker Robert L. Kemper to replace the ailing thrift’s top two officers.

Kemper, 61, will succeed Gordon C. Luce as chairman and chief executive when he retires on July 2. The 65-year-old Luce, who was Great American’s chief for 20 years, will remain as a trustee at the savings and loan. Kemper also will replace Roger K. Lindland, 58, as president.

The change comes as Great American, which is still solvent, fights for its life. The company has been looking for an investor or a buyer for some of its California branches. Regulators have told the money-losing thrift to meet minimum capital requirements by Dec. 31 or face government seizure.

Luce announced his retirement plans in May.

“It is time for a change, and a new perspective will assist the bank in moving forward in these changing times,” Luce told shareholders.

Great American officials interviewed several candidates and had offered Luce’s job to James Cirona, president of the Federal Home Loan Bank of San Francisco, but he and the thrift’s board could not reach an agreement.

Kemper was once vice chairman of Wells Fargo Bank in San Francisco, retiring in 1983 after 27 years. He was most recently associated with Gregory & Hoenemeyer, a New York merchant banking firm. From 1986 to 1988, he was director of the National Center on Financial Services at the University of California, Berkeley.

“I am joining the bank during a very challenging period,” Kemper said in a statement. “But I am looking forward to addressing the issues facing the bank and working with its shareholders and customers.”

Great American, the nation’s eighth-largest S&L;, ran into trouble because of problem real estate loans in Arizona.