Two different groups of national banking legends, including the former CEO of McLean-based Freddie Mac, have applied with regulators to start banks in Northeast Florida that would buy failed banks. One of the banking groups, which filed an application with Florida regulators in February to form Bank of the Southeast in Ponte Vedra Beach, includes David Moffett, who had a short stint at the helm of the local mortgage giant. Moffett was tapped to lead Freddie Mac after it was seized by the federal government in September 2008. He stepped down six months later to return to a role in the financial services sector, he said at the time. Before his stint at Freddie Mac, he was a vice chairman and chief financial officer of Minneapolis-based US Bancorp. Now another member of his new banking group, the Office of Thrift Supervision’s former Southeast regional director, John Ryan, filed its application with the Florida Office of Financial Regulation’s Division of Financial Institutions. Ryan will serve as chairman of the board and Moffett will be president and CEO of both the bank and its holding company, Bancorp of the Southeast.
Former Freddie Mac CEO part of Florida venture to buy failed banks
April 9, 2010, 12:25pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
