Chrystal Named Interim CEO at Bancorp (Dec. 14, 2015)
The Bancorp Inc. has named John C. Chrystal as interim CEO of the company and president of subsidiary The Bancorp Bank. A member of The Bancorp board of directors, Chrystal will replace Frank Mastrangelo, who will continue to serve the company in the newly created role of technologist in residence. A financial services industry veteran, Chrystal has been a director of The Bancorp since 2013, and has chaired the board’s risk and BSA committees as well as serving as a member of the audit committee.
“John is coming into the CEO role with great knowledge of the company and our strategy going forward. We are extremely appreciative of everything John has done on the board and for stepping in while the company institutes a search for our next CEO,” said Daniel Cohen, chairman of the board and executive vice president, The Bancorp. The company is commencing its search for a permanent chief executive officer immediately. Meanwhile, Mastrangelo will focus on the company’s payments business, fintech and various technology initiatives, Cohen said. “Frank’s contributions to The Bancorp have been considerable. As he steps into his new role, we thank him for his dedication to our organization and welcome his continued contributions to the company.”