Battle Hymns at Republic: Bank Troubled at the Top?

Dallas financial circles were buzzing with the rumor during late February and early March: There was a battle of heavyweights in the upper echelons of Dallas banking. Word was whispered that a high level shakeup at Republic Bank was imminent.

Apparently tension had been building between bank chairman Jim Keay and Jim Berry ever since Berry, instead of Keay. was. to the surprise of many. chosen holding company chairman last year. Reportedly. one of Berry’s administrative decisions. which had a direct effect upon the operations of Keay and the bank. finally drove the conflict into the boardroom. Republic’s board stepped in to settle the differences: by doing so. however, it left Berry in the strongest position since he took over the holding company’s chairmanship.

The word now is that the differences between Berry and Keay arc settled for the time being and that the plans for drastic personnel changes have been dropped. Berry reportedly assured a meeting of senior officers that the rift has been smoothed over. But such high-level tensions don’t often disappear easily. Or permanently.