CFO Thomas Reedy Jr. exercised options for 40,000 shares at $17.20 each, a total of $688,000. He then sold 34,960 shares at $31.19 each, a total of $1.09 million.
Chairman, President and CEO Michael Fraizer abruptly resigned Tuesday. Genworth said the resignation was “not as a result of any disagreement with the company on any matters related to the Company’s operations, policies or practices.”
Replacing Frazier in the interim is CFO Martin Klein.
Director James Riepe was named chairman as of May 1.
Chief Investment Officer Ronald Joelson is leaving Genworth for Northwestern Mutual Life Insurance Co. He’ll remain an employee of Genworth until May 25, but not as CIO.
Daniel Sheehan IV will replace Joelson.
The company declared a quarterly dividend of $0.75 per share on the common stock payable July 2 to shareholders of record at the close of business June 15.
The holding company of C&F Bank released its first quarter financials, reporting a $3.63 million profit. That’s up from $2.68 million a year ago. The bank’s total assets reached $945 million, up from $907 million a year ago. Its total nonperforming assets were $19.25 million, on par with the same period a year ago.
Paul Robinson, a director, exercised options for 1,500 shares for $22.32 per share or $33,000.
Union First Market Bankshares
Union declared a quarterly dividend of $0.08 per share.
Linda Schreiner and Raymond Slaughter were elected to Union’s board of directors. Schreiner is a senior vice president at Richmond-based MeadWestvaco. Slaughter is an associate professor of accounting at the University of Richmond
Union also released its first quarter financials, reporting a $7.9 million profit, up from $5.7 million a year ago. Its total nonperforming assets and loans more than 90 days past due were $92 million, down from $112 million a year ago. Its total assets grew to $3.94 billion from $3.81 billion. Its total loans grew to $2.8 billion from $2.76 billion. Its total deposits grew almost $200 million to $3.21 billion.