Pub. 17 2020 Issue 3

Issue 3 • 2020 23 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S BANK NEWS Jill Gutierrez, Bank 34 President and CEO, Retires After 48 years in the banking industry and 13 years at Bank 34, Jill Gutierrez, president and CEO, retired on Sep- tember 30, 2020. “During Jill’s tenure at Bank 34 she was instrumental in leading the bank out of the Great Reces- sion and served as our leader in strengthening the culture and credit standards we enjoy today. Under her leadership, we have seen the bank accumulate a first-class team that is well-equipped to propel our organization into the future. Jill helped guide us through two of the biggest events in our 86-year history with our acquisition of a bank in the Phoenix market in 2014 and our second-step conversion to a fully public company in 2016. We wish Jill an enjoy- able and family filled next chapter and are happy she will continue to serve by our side on the board,” said Randall Rabon, chairman of Bank 34’s board. Before joining Bank 34, Gutierrez worked as senior vice president and senior lending officer at Western Bank in Alamogordo and First National Bank in Alamogordo. From 2001 to 2007, she was senior vice president and market president at First Federal Bank in Las Cruces. Ms. Gutier- rez has been employed in the banking industry since 1972. Citi CEO Corbet Announces Plans to Retire in February 2021; Jane Fraser to Succeed Corbat as CEO Citi CEO Michael Corbat announced that, after 37 years at Citi, including the last eight years as CEO, he plans to retire from Citi and step down from its board of directors. The board of directors selected Jane Fraser, currently Citi’s president and CEO of Global Consumer Banking, to suc- ceed him as CEO in February. Fraser has been at Citi for 16 years and has been in her current role since 2019. Montoya Named Dean of Anderson School of Management UNM Provost James Holloway praised Mitzi Montoya’s wealth of experience as well as her “entrepreneurial spirit and drive” in welcoming her as the new dean of the Ander- son School of Management. “I truly believe she will be a shot in the arm for business development in New Mexico,” he said. Montoya comes to UNM from Washington State Uni- versity, where she was a professor at the Carson College of Business. Before joining WSU, Montoya served as dean of the business school at Oregon State University and dean of the College of Technology and Innovation at Arizona State University. Montoya said she views Anderson as a model for busi- ness schools of the future. A diverse body of future busi- ness leaders is prepared to face the challenges ahead with resilience and adaptability. Her research lies at the inter- section of marketing, technology and innovation and has focused on virtual teams and collaborative technology. “As we have all experienced with the coronavirus pandemic, where we are all working and learning remotely,” she says, "virtual work is not quite the same, and doing it well is easier said than done.” She received her B.S. in applied engineering science and Ph.D. in marketing and statistics from Michigan State University. Citi Pledges $1 Billion to Narrow the Racial Wealth Gap, Confront Wealth Inequality Citigroup, the nation’s fourth-largest bank by asset size, pledged more than $1 billion over the next three years to address the widening racial wealth gap and increase Black Americans’ economic mobility. “The pandemic is a health crisis with severe economic implications. It’s led to an unveiling of the systemic racism that has existed in this country for far too long,” said Citi’s CFO Marc Mason, who’s part of a small cadre of prominent black executives on Wall Street. The funds will be directed toward expanding access to banking and credit building in communities of color, investing more heavily into Black-owned businesses, pro- moting Black homeownership’s growth, and strengthening Citi’s antiracism policies and practices. Bancorp 34, Inc. Announces Voluntary NASDAQ Delisting Bancorp 34, Inc., the holding company for Bank 34, announced in August that it has notified the NASDAQ Stock Market of the Company’s intent to voluntarily delist its common stock from the NASDAQ Capital Market. The Company intends to withdraw its common stock registra- tion with the U.S. Securities and Exchange Commission under the Securities Exchange Act of 1934. In addition, the Company has adopted a stock repurchase program for a total purchase not to exceed $600,000. n