The Strife at Washington Bancorp

From: The Washington Post | Date: October 17, 1988| Author: RUDOLPH A. PYATT JR. | Copyright information

Last week's attempted coup at Washington Bancorp may have established new marks for hypocrisy and sheer chutzpah.

Power struggles have shaken the boardrooms of Washington banks before, but it's doubtful that any compare with the surprise attack on Washington Bancorp Chairman Luther H. Hodges Jr. by Saudi Arabian investors, who own more than 27 percent of the company's stock, and Robert B. Washington, a director of the company and partner in a Washington law firm.

In recent y...

Related newspaper, magazine, and journal articles from HighBeam Research

Washington Bancorp. Asks to Buy Md. S&L
The Washington Post ; Washington Bancorp., parent of the District's third-largest bank, is pushing Maryland regulators for permission to buy a $9 million savings and loan institution in Baltimore and convert it to a bank. Washington Bancorp., which owns The National Bank of Washington, wants to buy Center Savings and
NBW Asks Dissident Director to Quit Board; Robert Washington Criticized in Report for Role in Securing Loan
The Washington Post ; The boards of Washington Bancorp and its subsidiary, the National Bank of Washington, yesterday asked Robert B. Washington Jr. to resign as a director after receiving a report criticizing his role in a $10 million loan to his former law firm. Washington, who has been embroiled in a dispute with the
NBW Names An Interim Chairman; John Toups Chosen To Succeed Hodges
The Washington Post ; The board of Washington Bancorporation yesterday named John M. Toups, former chairman of McLean-based Planning Research Corp., as its interim chairman following the resignation of Luther H. Hodges Jr., which is effective tomorrow. The selection of Toups, who has no banking experience but served as
WBC Panel Says It Found Apparent `Serious Violations'
The Washington Post ; A special committee of the board of Washington Bancorp said yesterday it has reported to federal regulators apparent "serious violations" of securities and banking regulations by three of its directors who recently asked that the chairman of WBC resign. In an unusually public and rancorous dispute,
Washington May Bid for NBW Parent; Foe of Hodges Owns At Least 5% of WBC
The Washington Post ; Robert B. Washington Jr., who had been involved in a protracted legal battle with Washington Bancorp, yesterday filed papers with the Securities and Exchange Commission saying that he is exploring the possibility of acquiring the bank holding company or taking it private. Washington, who is a