The new CEO of the Territorial Bank of American Samoa, Mr. David Buehler, along with the chair and vice chair of the TBAS Board fronted before the House Commerce and Economic Development Committee this morning to answer question s about the management changes at the people’s bank future directions of TBAS.
Also present was the Commissioner of the Office of Financial Institutions Robert Ho Chee.
Committee Chairman, Tuala-uta Representative Samuel Meleisea said the reason for the hearing was because House members had concerns about issues with the bank during the Fono recess.
Vice Speaker Fetu Fetui asked about why three top executives of TBAS, all palagi, were no longer with the bank.
He expressed concern that perhaps their abrupt removal was not done through appropriate procedures guaranteeing their rights.
The three former executives are CEO Drew Roberts, Chief Financial Officer Matt Palmer and Chief Credit Officer Greg Thygesen.
The Vice Speaker said he didn’t want TBAS to be sued at a later stage. He added hat he understands that this was a sensitive topic and would leave it up to the TBAS board members if they wanted to answer his questions
Mr David Buehler was excused from the hearing after he laid out his plans for TBAS.
Then TBAS Board Chair Olivia Reid, who was present with Vice Chair Leilua Stevenson, answered the Vice Speaker’s question about the three former executives.
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Ms Reid added that Buehler’s contract is for three years.
Buehler who was here twice before with bank of Hawaii, the last time as local GM for BOH, said he’s excited to be back, and likened it to coming home. He gave this assurance.
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