One Bank & Trust Names Jerry Pavlas As CEO

Earlier this week, Talk Business reported that One Bank & Trust was ordered by the Office of the Comptroller of the Currency (OCC) to remove its CEO and President Layton Stuart immediately.

Today, the Little Rock-based bank, which has been at the center of several regulatory actions, named Gerald F. “Jerry” Pavlas as the President, Chief Executive Officer (CEO), and Director.

This appointment was approved by the OCC effective immediately on an interim basis and will become permanent once final OCC approval is received.

“I am honored and excited to have this opportunity here at Onebanc,” said Pavlas.  “I have had the opportunity to meet personally with many of the Onebanc family and believe there is a solid foundation for continued stability and exceptional customer service.”

According to a release from the bank, Pavlas, a resident of Dallas, most recently served as CEO of Southwest Securities and has experience addressing the regulatory needs of banks including the reorganization of Hibernia Corporation, now known as Capital One. Pavlas will relocate to Little Rock.

“We couldn’t be more pleased that Jerry has accepted the position of CEO and President here at Onebanc,” said Onebanc Board Chairman Paul Berry.  “He is a strong leader that understands and appreciates the value of not only our customers but our employees as well.”

Stuart’s dismissal from One Bank earlier in the week also include other directives from the OCC, including reclassifying the bank’s bank’s capital category from “adequately capitalized” to “undercapitalized.” It also called for a forensic auditor to review bank documents, books and records dating back to January 1, 2009.

Stuart was also directed to hand over items such as vehicles and keys; keys to all bank premises; credit cards; computers and disc drives; printers; fax machines; photocopiers; cell phones; audio-visual equipment; other electronic devices; supplies; and documents that are originals and/or copies of the bank’s books and records.