BANKING / FINANCE
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Chairman Named: Looking for faster growth and multistate branches, Assured Thrift & Loan recently named Los Angeles lawyer Fred Rucker as chairman of the Mission Viejo thrift.
Rucker, a founding director of the 8-year-old thrift, replaces Fred Pieracci, founding chairman. Pieracci remains on the board.
Rucker is expected to generate more capital for the thrift and expand its reach throughout California and into neighboring states in the next few years, said Edward Latscha, Assured’s president and chief executive.
The thrift--a state-chartered industrial bank, not a savings and loan--has two branches in Orange County and one each in Los Angeles and San Diego counties. It plans to open branches in Palm Desert and Victorville later this year.
Assured Thrift, which recently moved to its new headquarters from San Juan Capistrano, has $63 million in assets. It earned $493,000 last year.
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