Former Peoples Community Bank exec files bankruptcy

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By Jessica Heffner
March 22, 2010
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WEST CHESTER TWP. — The former chief financial officer of the failed Peoples Community Bancorp has filed for Chapter 7 bankruptcy after his assets were tanked by the company’s failed stock.

Thomas Noe, a resident of Maineville, filed a petition with U.S. Bankruptcy Court in Cincinnati earlier this month.

Among his $9.4 million of listed liabilities is a $5.6 million debt with Fifth Third Bank secured by 325,000 shares of defunct Peoples’ stock, according to court documents

The former senior vice president and CFO was the largest shareholder in the bank as of March 2009, with a 10 percent stake in Peoples Community Bank, according to SEC filings.

West Chester Twp.-based Peoples was the first Ohio bank to fail during the recent banking crisis, and was seized by federal regulators and sold to First Financial Bancorp July 31.

Contact this reporter at (513) 705-2843 or jheffner@coxohio.com.

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About the Author

Jessica Heffner