Solera in Colorado parts ways with another CEO

Solera National Bancorp in Lakewood, Colo., is again looking for a new leader. 

The $651million-asset company said in a press release Friday that Kreighton Reed had resigned as its president and CEO, effective Jan. 24. Peter Lindquist, Solera’s chief credit officer, resigned on Dec. 10.

"We thank Kreighton and Peter for their many contributions to Solera" Mike Quagliano, the company’s chairman, said in the release. "Our team continues to move forward and we are focused on delivering top notch customer service to our customers and executing on technology initiatives that will drive our long-term success." 

Reed became Solera’s interim president and CEO in July when the company terminated the employment of Martin May. May took over those roles in 2015, ending a turbulent period where he became the company's sixth CEO since 2008. 

May helped Solera exit a formal agreement with the Office of the Comptroller of the Currency in 2017. The company’s 2021 earnings were nearly double that of a year earlier, at $11.1 million.