Thread Starter: Rocky P
Title: Re: FDIC Takeover
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I've seen it both sides.
Usually upper management disappears - the rest of the bank will get stay contracts by the acquiring bank for a certain period of time to ensure an orderly takeover.
Front line/customer contact will usually be retained.
Operations and single purpose departments such as audit, CRA, compliance, mailroom, call center, usually hang around until conversion.
Due to technology, more people are working from remote locations. If you are good, or if there is a specialized need, relo offers or accommodations within a local branch may be made.
If the acquiring bank is close by, many times they will hold all unfilled positions open until after consummation to fill with newly acquired bank personnel. Since the failed banks are usually smaller, people have more diverse responsibilities and can be placed in different positions.
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