ViewPoint Financial Group, Inc. and Viewpoint Bank, National Association Announce Separation of Mark E. Hord, Executive Vice President, General Counsel and Secretary, Effective as of July 31, 2012
July 05, 2012 at 04:19 pm
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On July 5, 2012, ViewPoint Financial Group, Inc. entered into a general release with Mark E. Hord in accordance with the severance agreement between the bank and Mr. Hord dated as of January 1, 2011. Under the Release, Mr. Hord will continue to serve as Executive Vice President, General Counsel and Secretary of the company and the bank until July 31, 2012, to ensure a smooth transition of his responsibilities within the organization. In connection with Mr. Hord's resignation and in accordance with the agreement, for a period of one year following Mr. Hord's separation the bank will continue to pay his base salary, based on his annual base salary in effect on the resignation date ($237,003), and provide to him, at the bank's expense, the hospitalization, medical, dental, prescription drug and other health benefits required to be provided under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended from time to time.
LegacyTexas Financial Group, Inc. is a bank holding company. LegacyTexas Bank (the Bank) is the Company's principal operating subsidiary, which is a commercial bank that is focused on meeting the needs of businesses and consumers in the North Texas area. Its principal business consists of attracting retail deposits from general public and business community and investing those funds, along with borrowed funds, in commercial real estate loans, secured and unsecured commercial and industrial loans, as well as permanent loans secured by first and second mortgages on one- to four-family residences and consumer loans. Its Warehouse Purchase Program allows mortgage banking company customers to close one- to four-family real estate loans in their own name and manage its cash flow needs until the loans are sold to investors. It offers title services, as well as brokerage services for purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement.
ViewPoint Financial Group, Inc. and Viewpoint Bank, National Association Announce Separation of Mark E. Hord, Executive Vice President, General Counsel and Secretary, Effective as of July 31, 2012