Just two weeks after resigning as head of Crocker Bank's downtown office, Louis F. Cumming on Wednesday was named executive vice president and chief lending officer at BSD Bancorp's Bank of San Diego unit.
Cumming will take over in the midst of a realignment of the bank's lending operation, begun last year when BSD suffered a $964,824 loss, largely because of write-offs and provisions for bad loans. In all, BSD had about $4 million in problem loans at year-end, nearly all of which were at the Bank of San Diego subsidiary.
E. Lynn Caswell, who was named president of Bank of San Diego last November, said Cumming will "add some additional strength" to the troubled lending operation. "Sometimes management doesn't keep up with growth," Caswell said.
BSD grew to have $343 million in assets and five subsidiary banks in just six years.
Caswell said a handful of lending personnel have left the bank since the realignment began last fall. Others have been added, and Caswell intends to hire more lending officers and managers. "This isn't the end of the realignment," he said.