Arnold leads Conn. bank. (Rudolph P. Arnold)

Black Enterprise | February 1, 1992| | Copyright

Last September, former Hartford, Conn., deputy mayor Rudolph P. Arnold was elected chairman of Society for Savings Bancorp Inc. He is believed to be the first African-American to head a nonminority commercial bank. By inheriting the leadership of a $3.3 billion banking company that reported losses of $52.4 million in 1990, Arnold faces the daunting challenge of rallying the troubled institution at a time when the nation's banks are slumping.

Last year, at least 17 Connecticut banks failed due to losses caused by delinquent loans. "With the challenges facing the state ...

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