Bevack to Retire as UCFC Chief, Search Begins
YOUNGSTOWN, Ohio -- Patrick W. Bevack, president and CEO of United Community Financial Corp. and its subsidiary, Home Savings and Loan Co., announced this afternoon that he will retire next year.
The board of UCFC has engaged Chartwell Partners to begin a search for his successor. The board also said it would retain Bevack as an adviser for two years.
Bevack said he intends to remain on the boards of both UCFC and Home Savings after he steps down as president and CEO. Bevack joined Home Savings in June 2000, was named its president and CEO in March 2009 and named president and CEO of UCFC Jan. 1, 2011.
“I am extremely proud of what we have accomplished since my appointment as president and CEO, and I am very thankful for the opportunity the Board gave me and for their tireless efforts during this time," Bevack said in a prepared statement. "I am also very appreciative of the senior management team and all the employees of Home Savings. Our accomplishments during what many consider the worst economic times since the Great Depression are a direct result of the quality and hard work of these individuals.”
Richard J. Schiraldi, chairman of the board of UCFC and Home Savings, commended Bevack for “a tremendous job at the helm of United Community and Home Savings. He led the management team through an extremely difficult period, both on an economic and regulatory level. Under Pat’s leadership, the regulatory orders were terminated, we dramatically improved our financial condition and risk profile, we successfully raised capital and, as a result, we are now well positioned to execute our business strategies so that we can prosper in the future.”
Schiraldi noted Bevack's 37 years in the banking industry. Following his retirement, "Maintaining a relationship with him as a consultant and as a member of the board gives us continued access to these skills and ensures a smooth transition into the future," he said.
As a wholly-owned subsidiary of United Community Financial Corp., Home Savings operates 33 full-service banking offices and nine loan production offices located throughout Ohio and western Pennsylvania.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our free daily email headlines and to our twice-monthly print edition.