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Douglass joined Pulaski Bank on May 1, 2008 as Chief Executive Officer. At that time, he also joined the boards of both the Bank and its parent company, Pulaski Financial Corp.
Stan Bradshaw, Chairman of Pulaski Financial Corp., commented on the appointment, "This move reflects the confidence our Board of Directors has in Gary. Having taken the helm as CEO during one of the most difficult times in banking since the Great Depression, Gary has demonstrated tremendous leadership and ability. He continues to navigate difficult waters in a manner that engenders the confidence of the Board, our banking regulators, our employees and our customers. Gary has surpassed all of our initial high expectations."
As stated in the Company's April 21, press release announcing its earnings information for the quarter ended March 31, the Bank has continued to grow its franchise and prosper during this most difficult time. At March 31, assets totaled $1.46 billion, loans topped $1.28 billion and deposits stood at $1.09 billion -- all record levels for the Company. For the March quarter, records were also achieved for net interest income, mortgage revenues and core non-interest income.
Bradshaw continued, "While credit costs related to discontinued lending programs helped to depress net income for the quarter relative to the prior year, the Board is confident about the value currently being created by the Bank. The Board's recent decision to maintain its quarterly dividend of $0.095 per share, which was paid on April 15, bears witness to the results that have been obtained through Gary's leadership."
Pulaski Financial Corp., operating in its 87th year through its subsidiary, Pulaski Bank, serves customers throughout the St. Louis metropolitan area. The bank offers a full line of quality retail and commercial banking products through 12 full-service branch offices in St. Louis and three loan production offices in Kansas City and the St. Louis metropolitan area.
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