Metro Moves

The new president and CEO at Metropolitan National Bank is working to change the landscape of the Springfield-based community bank after some recent turmoil.

Mark McFatridge, who was employed most recently as vice president and chief operating officer at Guaranty Bank, was named interim president/CEO of Metropolitan National in February before officially taking the reins in mid-May. He’s quickly making his presence felt and since June 11 has promoted 10 individuals, including four new executive vice presidents who report directly to McFatridge.

McFatridge said his focus is on recognizing valued employees and including them in efforts designed to improve the bank’s culture. Now with his fourth bank since moving to Springfield in late 2006, McFatridge took the post formerly held by Sterling Huff, who left the bank abruptly in November.

In October, Springfield Business Journal reported that Metropolitan had slipped one spot to No. 9 in deposit market share in the five-county Springfield metropolitan statistical area, with 3.45 percent of the area’s deposits. During Huff’s tenure, which began in March 2010, the bank lost roughly 10 percent of its total assets, dropping to $498.9 million from $555.1 million between June 30, 2010, and June 30, 2011, according to the Federal Deposit Insurance Corp.

“We haven’t had an executive vice president in quite some time, and when Mark came on board, you’re seeing now with these promotions that there have been some organizational changes,” said Sharon Terry-Day, who was promoted to executive vice president and chief financial officer.

She is among the direct reports to McFatridge, along with John Maupin, senior regional leader; Ron Rushing, chief credit officer; and Rick Windes, senior regional leader. Earlier this month, three senior vice presidents were named: Norm Bownds as chief technology officer, Dawn Hugo as retail sales and administrative officer, and Dianna Letterman as operations officer.

“I guess you could call it ceremonial, but certainly a (greater) level of responsibility comes with those titles as well as more engagement in our strategic planning,” McFatridge said, noting none of the promotions were replacing people who had left.

In May, Michal Moss Early was named senior vice president of business development and marketing. Early’s position, which was created for her, incorporates some of the duties that Janet Weber, former vice president of private banking and marketing, held before vacating her post with Metropolitan in November.

Terry-Day has worked at the bank for 16 years and for the bank’s holding company, Springfield-based Marshfield Investment Co., for five years before that. Though she declined to describe the management styles of the bank’s recent leaders, Huff and long-time president Dave Tooley, she said McFatridge has demonstrated the qualities of a good leader.

“Mark is definitely leadership material,” Terry-Day said. “He has the talent to lead the people, and he relies upon us. … His style is to let us discuss issues and then bring around suggestions for resolution.”

Perhaps the most tangible example of McFatridge’s management approach has been the creation of the Pride, Passion and Culture Team. The PPC group comprises 20 individuals McFatridge has identified as leaders, and they meet monthly to discuss ways to improve the bank’s operations, including customer service and employee morale.

“They are really serving as a mouthpiece for the rest of our associates,” McFatridge said. “They will go back to our associates after a meeting and seek candid feedback and try to look for great ideas for the group to execute so that our customers, associates and, ultimately, our shareholders win.”

Terry-Day said the staff is responding well to the desire for input. “It is bringing around a sense of ownership for everyone,” she said.

McFatridge, an Indianapolis native, moved to Springfield in 2006 when he worked for Regions Bank. He said he originally planned to live here for two years and then move to Regions’ corporate headquarters in Birmingham, Ala. However, he said he and his family fell in love with the Ozarks, and when it was looking like he might get his chance to move, he decided to pursue an opportunity at OakStar Bank. Six months after taking OakStar’s president and chief operating officer post, he was asked to serve as a senior consultant to the CEO for an interim period while Randy Johnson came on as president.

“Unfortunately, we outgrew our capital, and as we were in the process of seeking new capital, an ownership group came into play. There was some overlap in the executive positions, so it made sense for me to move on,” McFatridge said, noting he was not terminated at OakStar.

Metropolitan, a subsidiary of Marshfield Investment Co., operates 12 branches in Springfield, Marshfield, Nixa, Lamar, Golden City, Branson West, Kimberling City, Blue Eye and Hollister.[[In-content Ad]]