$1.4 billion credit union reported $23M net income and 3.64% net worth as of Dec. 31. NCUA's lawsuit against former CEO Addison ongoing.
Kansas City investment CUSO sends out letter saying CEO Brian Hague, EVP Doug Richardson, have left.
Texans CU in Dallas and Keys FCU in Florida on the mend, agency says.
The NCUA filed suit late last month against David Addison, former CEO of Texans Credit Union, accusing him of breach of fiduciary duty and gross negligence that led to the $1.4 billion credit union’s April 2011 conservatorship.
CNBS LLC says David Addison is one of several partners in holding company that bought 51% stake.
Suit alleges misconduct, bad investments led to credit union's $16 million in losses.
David Addison, the former president/CEO of the troubled Texans Credit Union, has resurfaced.
LinkedIn profile lists Addison as CEO, sole employee of Aberdeen Capital Holdings Inc.
The NCUA said Friday night that it had placed Texans Credit Union of Richardson into conservatorship.