United Bank of El Paso del Norte announced Thursday that Norm Peters has been named president of the El Paso-based community bank.
Most recently, Peters was United Bank’s senior vice president and chief lending officer for commercial lending. He briefly served as interim president.
“The bank has always been in a strong position, with assets, deposits and income continuing to grow year-over-year,” Peters said in a news release. “Our balance sheet remains robust.”
Peters has more than 30 years of experience in El Paso’s financial market and has served on many community boards, including the Rotary Club of West El Paso, YMCA, El Paso Chamber, UTEP Family Business Forum, Candlelighters of El Paso and PBS El Paso.
In March, a fight over control of the bank spilled into public light as a group of unhappy shareholders sought to remove the members of the bank’s board from a second board that oversees the bank’s holding company.
Former United Bank President Monty Rogers resigned on May 4. And the bank’s board quit earlier this month, apparently ending the power struggle.
“We are now focusing our efforts on building a strong working relationship between the bank, its employees and the two governing boards,” Peters said in a statement. “Those boards are Southwest United Bancshares Inc., which represents the interests of the bank’s shareholders, and United Bank’s Board of Directors, tasked with overseeing the bank’s operations.”
George Bailey is chairman of the bank’s board of directors, and businessman Mike Verlander is now chairman of the bank’s holding company, Southwest United Bancshares, according to a news release. Retired health care administrator Patsy Parker is vice-chair of the Bancshares board.