The Signature Bank names new president

From 1997 to 2004, he was president and CEO of The Bank until it merged with Signature Bank.

Parnell is handing off his president duties to Robert Fulp, a 25-year banking veteran promoted from senior executive vice president. Fulp joined Signature Bank in 2000.

“It’s a very good time to step aside. The bank’s in great hands and will do very well,” Parnell said.

The Signature Bank’s 28-member board of directors voted to accept Fulp as president at its April 19 board meeting. David Kunze, chairman and CEO, said the choice was obvious.

“At the time of the merger between The Bank and Signature Bank, when we did our management succession plan, Rob was next in line for that position,” Kunze said.

Parnell’s exit, Fulp said, leaves him with “huge, huge shoes to fill” at the $743 million asset bank that employs 140 at eight locations.

Parnell will remain on the bank’s board of directors.

The bank’s greatest accomplishment under his leadership, Parnell said, is its business model.

“We have an organizational model that is unique in that it makes ownership opportunities, incentive compensation and access to the numbers available to every person that works here,” he said.

Bank officials would not disclose Parnell’s percentage of ownership in the bank.

Parnell said he would treasure the opportunity to spend more time with his family, continue his education and write. He plans to continue his civic activities, including positions on the boards of Springfield/Branson Regional Airport and Wonders of Wildlife.

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