Oakland, CA, July 16, 2019: Three experienced banking executives have joined the Beneficial State Bank leadership team to expand marketing and communications capacity, drive retail banking growth and help build a high-performance, mission-driven bank.
Michael Fratarcangeli, Beneficial State’s new executive vice president and chief financial officer, will implement and lead several strategic financial initiatives. These include enhanced financial reporting and profitability management, as well as FDICIA controls, to meet augmented requirements as the Bank has surpassed the $1 billion asset mark. Fratarcangeli will focus on Beneficial State’s commitment to a triple-bottom-line of financial stability, environmental sustainability, and social equity.
Fratarcangeli brings over 20 years of finance and accounting leadership experience from Bank of America, Bank of the West, and other financial institutions. Fratarcangeli earned his B.S. in Business Administration from Georgetown University, and his master’s in finance from George Washington University.
Lynn Marie Auzenne joined the Bank in May as senior vice president and chief marketing officer. Auzenne is bolstering the Bank’s strategy by amplifying the brand for Beneficial State’s market segments and structuring the future state for marketing channel capabilities and infrastructure, communications, and digital engagement. Auzenne is scaling marketing functions and capabilities as the Bank grows. Auzenne will also leverage her background in digital and financial product design as she drives a culture of innovation around product development to further engage clients.
Auzenne brings over 25 years of experience in banking, lending, investment management, customer experience, financial product development, and digital channel strategy to the team. Prior to joining Beneficial State, Auzenne held management and leadership positions at Charles Schwab, Wells Fargo, and First Republic Bank. Auzenne earned her B.A. from U.C. Berkeley and an M.B.A. from the Haas School of Business.
Lawrence Henry is Beneficial State’s new senior vice president and head of retail banking. Henry is driving organic growth across the Bank’s footprint and optimizing retail sales, service, and operations. He will develop a customer-centric growth and retention strategy and articulate a value proposition of extraordinary service and mission-focused solutions. Henry will leverage his experience in business banking to enhance collaboration between the retail and commercial banking divisions to deliver a team-of-experts service and sales approach. Henry will also develop innovative consumer products to broaden the range of customers the Bank can serve.
Henry has over 20 years of experience as the former head of retail at CTBC Bank Corp, and the managing director and regional president of Consumer and Business Banking at MUFG Union Bank, N.A. Henry led Affordable Mortgage program initiatives to help low-to-moderate income borrowers and first-time homeowners. Henry earned his B.A. in humanities from Arizona State University and his certification as a trainer by the Siebel Leadership Academy on Creating Customer Loyalty and Advanced Business Leadership.
“We are building a high-performance mission-driven organization. We are excited and grateful to be adding this amazing talent to help our existing seasoned team take it to the next level and amplify our community and environmental outcomes,” shared Randell Leach, president, and chief operating officer.
About Beneficial State Bank
Mission-driven Beneficial State Bank is a state-chartered, federally insured Community Development Financial Institution (CDFI) and a “Best Overall” Certified B Corporation® five years-running. Headquartered in Oakland, California, and founded as a social enterprise bank in 2007, Beneficial State Bank has grown organically and through aligned acquisition to serve the three West Coast states. Beneficial State Bank holds to a triple-bottom-line of social justice, environmental well-being, and economic sustainability. Over 75% of commercial loans outstanding support affordable housing, renewable energy and environmental sustainability, education, and youth development, and other mission-aligned business structures and ventures. The Bank has no individual shareholders demanding that the Bank maximize profits in their interest. Rather, 100% of the economic rights of Beneficial State Bank are owned by nonprofit organizations. Beneficial State Foundation, the majority beneficial owner, measures and supports the social and environmental impact of the Bank and works to change the banking system for good.
For additional information, please visit http://www.beneficialstatebank.com.
FDIC Insured, Equal Housing Lender.