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DRL > SEC Filings for DRL > Form 8-K on 3-Oct-2013All Recent SEC Filings

Show all filings for DORAL FINANCIAL CORP



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective on October 3, 2013, the Board of Directors of Doral Financial Corporation (the "Company") appointed Mr. David Hooston as the Chief Financial Officer of the Company after obtaining the required regulatory approvals. Mr. Hooston, who is 57 years of age, is also an Executive Vice President of the Company.

As previously reported by the Company under Item 5 (Other Information) of Part II of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, the Board of Directors of the Company had selected Mr. Hooston to serve as Chief Financial Officer of the Company, but the appointment was still subject to regulatory approvals. Pending the receipt of the required regulatory approvals, Mr. Hooston commenced on July 1, 2013 as an employee of the Company in its Finance Division and Mr. Penko Ivanov continued to serve as the Company's Interim Chief Financial Officer.

Prior to becoming an employee of the Company, Mr. Hooston served as Managing Partner of Granite Bay Partners, LLC during 2013 and from 2007 to 2009. Granite Bay Partners is a financial institution consulting and private equity firm that invests in banking institutions and financial services businesses in the Western United States. From 2009 to 2012, Mr. Hooston served as Chief Financial Officer of HomeStreet, Inc. (NASDAQ: HMST) a diversified financial services company headquartered in Seattle, Washington. From 1995 to 2007, he served in various positions in Placer Sierra Bancshares (a California-based bank holding company), including Chief Financial Officer and President and Chief Operating Officer. Mr. Hooston obtained a BA in Business Economics from University of California-Santa Barbara and is a Certified Public Accountant.

There are no related party transactions between the Company and Mr. Hooston. There were no arrangements or understandings between Mr. Hooston and any other person pursuant to which he was appointed as Executive Vice President and Chief Financial Officer of the Company. Mr. Hooston is not related to any director or executive officer of the Company by blood, marriage or adoption. Mr. Hooston has not entered into an employment contract or agreement with the Company.

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