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Firms under $1 billion of assets that never had a chief risk or credit officer, for example, are creating these roles and in some cases filling them with executives who were displaced by a merger at their last employer.
Commercial loans at federally insured credit unions increased 25% to $132.2 billion in the third quarter of 2022, even though many institutions are facing a tough job market. Their answer is to find strong candidates within their own ranks.