Kim J. Capeloto is no longer employed at the Bank of Clark County, effective Tuesday, June 17. He was the Vancouver-based bank's president and chief operating officer.
Bank Chief Executive Officer Mike Worthy said the change in leadership was not a cost-saving effort, but beyond that, both he and Capeloto declined to comment on the circumstances surrounding Capeloto's departure.
Worthy said he will step into Capeloto's former role as president.
"We haven't decided if we need to replace him or not and, frankly, we're not sure we need to," Worthy said.
Capeloto said he has the utmost respect for the bank and its employees and customers.
"Bank of Clark County is a phenomenal financial institution and I am honored to have been associated with the company for the last nine years," he said. "I will deeply miss my daily interactions with the employees and customers."
Capeloto said his only plans include spending time with his family and that he has no desire to leave the region.
"I love Clark County and I would absolutely do everything in my power to stay in this area," he said. "The business contacts and personal contacts I've made are top notch and I have no desire to leave."
Capeloto moved from Seattle to Clark County in 1999 to help start the bank. His career in banking and finance spans more than 20 years, according to Bank of Clark County. The bank is owned by Vancouver-based Clark County Bancorp., which reported $404.2 million in assets at the end of December 2007.
Capeloto's community involvement includes serving as the School of Piano Technology for the Blind's chairman of the board and chair of the finance committee and chairman of the board for Identity Clark County.
He said he has contacted each of the organizations to notify them of his change in employment and is in the process of working through arrangements individually.
Worthy served as the bank's president until April 12, 2007, when Capeloto was promoted from his role as executive vice president of the bank.