Financial Services >> CEO Interviews >> January 21, 2002
W. KIRK WYCOFF is President, Chairman and Chief Executive Officer of
Progress Financial Corporation and Progress Bank. He became President
and Chief Executive Officer in July 1991 and was elected Chairman of the
Board of Directors of the company in October 1993. During the initial
two years at Progress, the bank operated with less than 2% capital due
to real estate loan losses from loans made by prior management. In July
1993 PFC was recapitalized via a rights offering which raised $7
million. In July 1996 the bank changed its name to reflect the
successful conversion of its balance sheet to a commercial bank
structure. Prior to working at Progress, Mr. Wycoff served as Chairman
and CEO of Crusader Savings Bank from 1989 to 1991 and reorganized that
bank as a profitable mortgage lender. Mr. Wycoff received his original
commercial bank training at Girard Bank, and also worked in business and
real estate financing at the Philadelphia Savings Fund Society and
Reliance Insurance Company. In addition to serving on the Board of
Directors of Progress Financial Corporation, he also serves on the Board
of Directors of the following non-profit corporations: Progress
Foundation ' established by Progress Bank to raise funds which are used
to improve the quality of life for needy children; MBF Center ' an
agency which empowers people with disabilities to improve the quality of
their lives; the Lincoln Center, which provides youth an alternative
school program and assists youth, families and the elderly to overcome
difficult transitions in their lives; and the Pennsylvania Association
of Community Bankers. Mr. Wycoff was recently appointed to the
Pennsylvania Bankers Association (PBA) Financial and Investment Services
Council Policy Committee and he also is a member of IBAA and the
Sheshunoff High Performance Affiliation Program. Mr. Wycoff has a
Bachelor of Arts degree from Franklin & Marshall College. Profile
your own experience and involvement with Progress and with the industry
itself?
Mr. Wycoff: Progress Financial
