MEMORANDUM

To:

 

All Staff

From:

 

C. Allen Parker, Interim CEO and President

Date:

 

September 8, 2019

Subject:

 

A New and Bright Horizon Lies Ahead

 

The last three years have been extremely difficult for our customers, shareholders and staff. What unfolded during these tumultuous years have strengthened our resolve and consolidated our faith in this institution— that we will once again regain the trust of our stakeholders and fulfil the mandate that we originally set out to achieve over 167 years ago.

This redemption process will be a delicate, yet difficult one and requires a team effort that will be based on transparency, ethics and accountability. Our previous CEO and President, Tim Sloan, decided that a new leader was necessary to usher us into this new horizon and while the Board will announce our new CEO within the coming weeks, I will lead as best as I can and as long as I can, until our new CEO is announced. We want to thank Mr. Sloan for his yeoman and dedicated service to this wonderful institution for over 31 years, in various capacities.

We will remain focused on closely scrutinizing our company, while addressing toxic issues, with a renewed hope of making things right for all our stakeholders. While there is still enormous work to do, rebuilding trust with our team members, customers, communities, shareholders and regulators remains our top priority. We thank you, the staff, for remaining resolute during these difficult times and together, we will rise again and deliver our core values and principles into the new horizon that lies ahead. Remember, together, everyone achieves.

 

C. Allen Parker.

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