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Paola-based Team Financial CEO resigns
Bob Weatherbie has been president and chief executive officer of TeamBank N.A. since 2004
By Brian McCauley, bmccauley@miconews.com
Bob Weatherbie, who joined Paola-based TeamBank, N.A. in 1973 and has served as chief executive officer of its holding company, Team Financial Inc., for more than a decade, announced his resignation Tuesday.
Weatherbie’s resignation, according to a news release, went into effect Monday and includes all of his positions with the company and its subsidiaries.
“I am proud to have been associated with this organization for over 35 years. I have many fond memories of the customers and employees and wish them the very best,” Weatherbie said in the release.
Weatherbie’s decision comes less than two weeks after Team Financial Inc. elected new directors to its board during the continuation of its annual stockholders’ meeting last month.
Connie Hart was elected as the new chairman of Team Financial’s board of directors.
“We extend our gratitude to Bob for his contributions to the company and the communities we serve,” Hart said in the news release. “Bob was instrumental in growing the company from a small, local bank into a regional, publicly traded institution. I have a great deal of confidence in our existing board of directors and committed employees. I’m convinced that our continued focus on efficiencies and profitability will result in increased shareholder value as well as make us a stronger organization.”
The turnover on the board and loss of Weatherbie come on the heels of a difficult stretch for the company.
According to its quarterly report, Team Financial recorded a net loss of $7 million for the three months ending June 30 and a net loss of $13.4 million for the six months ending June 30.
Team Financial is a holding company with $807 million in total assets that owns TeamBank branches in Kansas, Missouri and Nebraska, as well as Colorado National Bank in Colorado Springs, Colo.
It is publicly traded and listed on NASDAQ under the symbol TFIN.
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Weatherbie’s resignation, according to a news release, went into effect Monday and includes all of his positions with the company and its subsidiaries.
“I am proud to have been associated with this organization for over 35 years. I have many fond memories of the customers and employees and wish them the very best,” Weatherbie said in the release.
Weatherbie’s decision comes less than two weeks after Team Financial Inc. elected new directors to its board during the continuation of its annual stockholders’ meeting last month.
Connie Hart was elected as the new chairman of Team Financial’s board of directors.
“We extend our gratitude to Bob for his contributions to the company and the communities we serve,” Hart said in the news release. “Bob was instrumental in growing the company from a small, local bank into a regional, publicly traded institution. I have a great deal of confidence in our existing board of directors and committed employees. I’m convinced that our continued focus on efficiencies and profitability will result in increased shareholder value as well as make us a stronger organization.”
The turnover on the board and loss of Weatherbie come on the heels of a difficult stretch for the company.
According to its quarterly report, Team Financial recorded a net loss of $7 million for the three months ending June 30 and a net loss of $13.4 million for the six months ending June 30.
Team Financial is a holding company with $807 million in total assets that owns TeamBank branches in Kansas, Missouri and Nebraska, as well as Colorado National Bank in Colorado Springs, Colo.
It is publicly traded and listed on NASDAQ under the symbol TFIN.