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Miller Resigns from Marine National Bank

January 23, 1986|JAMES S. GRANELLI

Donald A. Miller, who had been president of Marine National Bank since it opened in July, 1981, has resigned, Larry T. Smith, chairman of the Santa Ana bank, said Wednesday.

Smith will serve as chief executive officer until a successor can be found.

"I don't know if I'm surprised or not by the resignation," said Alan J. Jacobs, a director. "The bank was sitting on a plateau, and it had not had the growth that either Don Miller or we wanted. So there is always that kind of tension" between a president and a board in such situations.

He declined to elaborate on the reasons for Miller's departure. He said Miller had not made any definite plans. Miller could not be reached for comment.

Marine National, which concentrates on serving medium- and small-size businesses and is trying to develop an international banking capability, had reported $131,138 in profits for the nine months ended Sept. 30.

The bank, which has a branch in Irvine, has been generally profitable, but it reported a $998,718 loss in 1984, largely because of an $832,000 write-off for an industrial loan that went sour.

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