Exec at bank selling to credit union gives up ABA post

Rita Lowman, whose bank is being sold to a credit union, has resigned from the board of the American Bankers Association.

Lowman is president of Pilot Bank in Tampa, Fla., which announced plans earlier this month to sell to Lake Michigan Credit Union in Grand Rapids, Mich. Her resignation was first reported by the Tampa Bay Business Journal.

Lowman, who had joined the ABA's board this year, was set to chair the association's government relations council in 2022.

The $10.4 billion-asset Lake Michigan plans to buy the $544 million-asset Pilot for $96.6 million in cash.