Seaway Bank Parts Ways with CEO
The Board of Directors of Seaway Bank and Trust Company announced the departure of President and CEO Darrell B. Jackson this week.
Jackson was previously the executive vice president and president of wealth management at Northern Trust Bank.
Executive board chairwoman Veranda Dickens , who will assume Jackson’s responsibilities as the bank searches for a replacement, said in a press release, “We are grateful to Darrell for his contributions to our organization. His experience and presence have been assets to our team, and we wish him well in his future endeavors.”
Seaway Bank, Chicago’s largest African-American woman-owned bank in the country, also announced that an executive search committee, led by Dickens, will conduct a search for Jackson’s replacement.
In 2014, Seaway took numerous steps to improve the company’s financial health, expand the customer base, return to profitability by increase shareholder returns on investments and retaining a position as an industry leader. Those steps included the appointment of new senior leaders, identifying and correcting past errors in FDIC filings, maintaining and extending the Seaway community presence in Chicagoland and Milwaukee, to look at every aspect of operations in order to improve and restructure the business.
This year, Seaway celebrates its 50th anniversary. Since 1965, the bank has served families, nonprofits and businesses in the Chatham neighborhood. The bank was established to counter discriminatory lending practices. Currently, the bank has more than $420 million in assets and 250 employees.
The bank originally opened at 8555 S. Cottage Grove Ave., operating there until its headquarters was completed at the current site on 645 E. 87th St.
Ashley Dennison of Reputation Partners, a public relations firm representing the bank, told the Chicago Citizen Newspaper that Seaway is not issuing a statement detailing specifics of the matter at this time.
Repeated attempts to reach Jackson and Seaway Bank went unanswered.
Latest Stories
- South Suburban College Addresses Potential Faculty Strike with Commitment to Resolution and Transparency
- COOK COUNTY CLERK-ELECT ANNOUNCES LEADERSHIP OF TRANSITION TEAM
- Chicago Native Receives Grammy Nomination
- Country Club Hills School District #160 Celebrates Progress with Release of Illinois Report Card
- JARRARD INC. ADDS SENIOR LEADERS IN RESPONSE TO CONTINUED STELLAR GROWTH
Latest Podcast
A.L. Smith - Harold Washington Legacy Committee
