WASHINGTON, Sept. 25, 2014 (GLOBE NEWSWIRE) -- Bank of Georgetown, a leading community bank providing commercial banking solutions, has promoted Jeff Hedderly to executive vice president. He remains chief credit officer and will continue to oversee credit underwriting, loan and credit administration, compliance and risk management.
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Hedderly joined Bank of Georgetown at its founding in 2005 as senior vice president, chief credit officer. He started the Bank's credit and loan administration group, established loan policies and procedures and implemented systems of credit analysis and loan quality assurance.
"Jeff has been instrumental in developing and maintaining Bank of Georgetown's disciplined credit culture and strong loan portfolio, which are critical to our long-term health and success," said Mike Fitzgerald, chairman, president and CEO of Bank of Georgetown. "His sound judgment, vision and expertise have contributed greatly to Bank of Georgetown's consistent growth and outstanding record of safety and soundness."
Under Hedderly's leadership, Bank of Georgetown has maintained pristine credit. From 2007 to 2012, during the recession-induced credit cycle, Bank of Georgetown's non-current loans as a percentage of loans averaged 0.79%, or 66% lower than the quarterly peer group figure. As of June 30, 2014, Bank of Georgetown's ratio of non-current loans to loans equaled 0.31% versus 1.27% for peer institutions, according to the most recent available data from the Federal Financial Institutions Examination Council (FFIEC).
"Jeff is an integral partner in the credit process," said Tim Veith, executive vice president and chief lending officer at Bank of Georgetown. "His extensive knowledge and experience make him a great asset, not only to Bank of Georgetown, but to our clients as well."
With over 20 years of experience at top-tier local and regional banks, Hedderly has provided superior banking and lending solutions to clients throughout Greater Washington. Prior to joining Bank of Georgetown, Hedderly spent nine years as chief credit officer for Bethesda-based SequoiaBank, managing credit administration; credit policy; loan administration; and loan operations. He also held positions with NationsBank and The National Bank of Washington.
Hedderly earned a master's in business administration from the College of William and Mary and a Bachelor of Arts degree in economics from The University of Virginia.
About Bank of Georgetown
Bank of Georgetown is a community bank that specializes in helping businesses and individuals achieve long-term success. It combines personalized loan, deposit and cash management solutions with a commitment to accessibility, flexibility and superior service, resulting in an unmatched banking experience for its clients. Founded in 2005 by Chairman, President and CEO Mike Fitzgerald and the late Curtin Winsor III, the Bank has over $1 billion in assets and 11 branches throughout the Washington metro area. Visit www.bankofgeorgetown.com for more information.
