Friday, February 22, 2019


Charles J. Thayer

Charles J. Thayer is Chairman of Chartwell Capital Ltd., a private firm providing specialized advisory services to the board of directors and executive management of banks, corporations and institutional investors.

Thayer served on the board of directors of MainSource Financial Group (NASDAQ) from July 2011 until May 2017 and served as Lead Director in 2016. MainSource was a $4.5 billion banking institution with offices in Indiana, Illinois, Ohio and Kentucky. MainSource was acquired by First Financial Bancorp (NASDAQ-FFBC) April 2018.

He served as Chairman Emeritus of the American Association of Bank Directors 2013-2018 and served as Chairman 2007-2012. The AABD is the national non-profit organization dedicated to serving the information, education and advocacy needs of financial institution directors. Outside directors who are not professional bankers make up 95% of AABD membership.

The National Association of Corporate Directors invited Thayer to be a founding board member of NACD Florida in 2005 and he served on the board from 2005 until 2016. The NACD honored Thayer as a Board Leadership Fellow in 2016.

Thayer served on the board of the Louisville Development Bancorp from 1997 until 2013. LDB's shareholders include Kentucky's major banks and corporations and LDB's subsidiary Metro Bank is dedicated to job creation and home ownership in the Louisville metro area.

Thayer served on the Board of Trustees of the national Cystic Fibrosis Foundation, Washington, DC., for 37 years, 1980 to 2017. He served as Chairman of the Foundation's investment committee from 1993 to 2011 and  as Chairman of Cystic Fibrosis Services, Inc., the Foundation's national mail order pharmacy, from 1994 to 2004.

Republic Bank one of Florida's largest independent commercial banks, elected Thayer to the Board of Directors in October 1999 and to the Board of Republic Bancshares, Inc., St. Petersburg, Florida (NASDAQ) in May 2000. Republic was acquired by BB&T Corporation in 2004 and Thayer served on the board of BB&T Bank (Florida) until July 2006.

He served as an advisor to Keefe Managers, Inc., New York, from 1989 until 2002. Keefe Managers was founded by Harry V. Keefe (1922-2002) in 1989 to serve as the investment advisor for Keefe Partners L.P., an investment partnership for bank and thrift securities.

Thayer was elected to the Board of Directors of CogenAmerica (NASDAQ), an independent power producer headquartered in Minneapolis, Minnesota, in April 1996. He served as a member of the Independent Directors Committee (IDC) until CogenAmerica's acquisition by Calpine Corporation (NYSE) in December 1999. The IDC was given full control of the acquisition process.

He served on the Board of Directors of Sunbeam Corporation (NYSE) from October 1990 until his resignation in April 1997. In January 1993 he was elected Chairman and CEO of Sunbeam, providing interim management until the election of a new CEO in August 1993. Thayer was described as Sunbeam's "most knowledgeable director" in the book "Chainsaw" by John A. Byrne, Executive Editor of Business Week magazine.

Thayer had a twenty year career in commercial banking prior to organizing Chartwell Capital in 1990. As Executive Vice President of PNC Financial (PNC-NYSE), Pittsburgh, he had management responsibility for finance, merger and acquisitions, investor relations, strategic planning, and served as Chairman of PNC Securities Corp, PNC's capital markets subsidiary. At that time, PNC was ranked as the 12th largest bank in the United States and ranked 4th in market capitalization, 1st in return on equity and 1st in return on assets among the nation's top 15 banks.

Prior to its acquisition by PNC in 1986, Thayer served as Executive Vice President and Chief Financial Officer of Citizens Fidelity Corporation (NASDAQ), Kentucky's largest bank holding company. As Chief Financial Officer he negotiated separate private placements of common stock, convertible debentures and senior notes with both European and Japanese investors. Citizens Fidelity was one of less than twenty banks rated "A" [the highest rating] by Keefe (Thomson) BankWatch.

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