Two Leave Silver State
Two of the top executives at Nevada's struggling Silver State Schools Credit Union have apparently lost their jobs, it was disclosed last week.
They are Carol J. Gibson, executive vice president/chief operating officer, and Bernard A. King, executive vice president/chief financial/administrative officer.
Gibson, who started as a teller and had been with the $819 million CU since 1976, served for a two week stretch last December as interim CEO following the sudden departure and then Christmas Eve return of David Rhamy, the current CEO.
Aided by a $22 million loan from the CU's private insurer, American Share Insurance, Rhamy has managed, according to industry sources, improve the balance sheet in recent weeks though the CU still reportedly lost $8.5 million in the first quarter. Calls to Rhamy and other Silver State officials regarding the management changes were not returned.