FORT PIERCE — Cindy Robbins, once president and chief operating officer of Riverside National Bank of Florida, was let go Thursday as the financial institution continues its restructuring.

Robbins’ position had been eliminated and no agreement could be reached with her taking another position at the independent bank based in Fort Pierce, said Riverside Executive Vice President Alan Polackwich.

“We just had one person impacted, it was nothing widespread, nobody else was involved,” Polackwich said.

Robbins could not be reached for comment.

Robbins had been reassigned as senior executive vice president and director of retail banking in January, when a bank reorganization cut 35 positions and Vernon D. Smith, who founded the bank in 1982, announced his retirement. She had been president and COO since 2006.

The bank has 65 offices in 10 Florida counties.

Recently listed by analysts as a problem institution, Riverside continues to work under the Federal Deposit Insurance Corp’s Temporary Liquidity Guarantee Program.

The FDIC program was created to strengthen confidence and encourage liquidity — the ability to convert an asset into cash quickly — in the banking system.
Jim Turner, TCPalm.com

Tags: bank, chief, cuts, federal, insurance

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