JOSEPH C. BONNER
30 year banking professional with the past 10+ years dedicated to effecting large scale change as CEO at multiple community banks. Management experience, leadership skills and track record developed over a wide range of circumstances provide a platform to help almost any community bank develop strategies, build practical processes, overcome challenges, find opportunities, and effect the positive change needed to adapt to ever changing economic, market and regulatory reality.
In the most recent CEO role at the $620 million Frontier State Bank (Oklahoma), inherited a five year old FDIC Cease & Desist Order that threatened institutional existence, and had it terminated in seven months. Upgraded the senior management team, rebuilt all aspects of lending, credit, operations and technology, improved critical risk management models, repaired strained regulatory relationships, restored staff trust in management, and established a solid foundation for future success.
Primary advisor (and prospective bank CEO) for a Texas entity that sought to buy a bank charter in 2015 and effectively build a new, traditionally focused community bank. Same dual role 2020-2021 for a California investor group, but with a high tech business plan aimed specifically at creating mega bank BSA/AML capabilities at a community bank. Briefly advised a Canadian investor group seeking a formal de novo US charter in 2019.
Other prior roles include President & CEO of the $1.9 Billion United Central Bank (Texas), a troubled Asian-American bank with 23 branches in major metro areas from NYC to LA. Stabilized the institution, re-energized the staff, cleared multiple major regulatory hurdles, and attracted a buyer for United Central's highly leveraged holding company. The sale provided the best overall solution for shareholders, customers, communities, and creditors -- including the US Treasury, which was repaid 100% of par for $27 million in TARP funding (that UST had been unable to sell for 25% a year earlier).
Roles prior to United Central Bank include President & CEO of the $1.1 Billion Bank of Choice (Colorado) and later President of Community Banks of Colorado after it was acquired by National Bank Holdings Corp (NBHC) and merged with the former Bank of Choice in 2011. With 54 branches, a $1.1 Billion loan portfolio, and 350 employees, Community Banks of Colorado was the largest of three subsidiary banks owned at that time by NBHC, then a $5 Billion NYSE traded bank holding company.
Extensive experience leading community banks on both sides of M&A -- a clear strategic option for institutions who seek to (a) increase scale, market share, and diversification, or (b) exit the industry, obtaining maximum shareholder value from a successor worthy of the existing customer base. This experience includes all facets of both preparing community banks for sale and in managing the complex post-acquisition absorption process to achieve projected efficiencies.
Reputation for transparency, responsiveness, and productive discourse with federal banking regulatory agencies and multiple state banking departments, developed while leading three banks and two bank holding companies in addressing published regulatory enforcement orders.
BS Mechanical Engineering -- United States Naval Academy
MBA -- University of Chicago
Former US Navy Officer who dedicated 15 years combined active duty and reserve service, attaining the rank of Commander.
