First Electronic Bank is headquartered in Salt Lake City, Utah and is a state chartered, federally insured industrial bank, regulated by the FDIC and Utah Department of Financial Institutions.
First Electronic Bank offers revolving private-label bank card and closed-end financing programs through its strategic partners. Each strategic partnership program is custom tailored to an individual partner’s products and customer base in order to provide consumer and commercial financing solutions. First Electronic Bank collaborates with its strategic partners to offer a wide range of consumer and commercial credit products on a national basis.
First Electronic Bank also issues and fully services the private label retail credit card for Fry’s Electronics. Fry’s Electronics is headquartered in Silicon Valley and operates 34 large retail stores in 9 states. Fry’s Electronics specializes in consumer electronics and household appliances, as well as software, computer hardware, in-store computer repair and custom computer assembly services.
First Electronic Bank is a wholly-owned subsidiary of Fry’s Electronics.
John joined First Electronic Bank in 2013 as President and Chief Executive Officer. Previously John was President of CIT Bank, a commercial bank and wholly-owned subsidiary of CIT Group (NYSE:CIT) with over $13 billion in assets. John was a member of the founding management team that launched CIT Bank in October 2000 and held positions of Chief Financial Officer and Chief Compliance Officer before becoming President in 2009. Under John’s leadership, CIT Bank launched several national consumer lending programs including Dell Computer, Bill-Me-Later, CarePayment, Case New Holland and Fingerhut. While at CIT Bank, John helped facilitate its change in federal banking charters, from Industrial Loan Corporation to Commercial Bank. John also transferred all legacy loan origination platforms from CIT Group (NYSE:CIT) to CIT Bank while creating a new retail deposit platform that acquired over $6 billion in deposits.
John is a Certified Public Accountant with audit experience at national accounting firms and is a former federal bank examiner with the Office of Thrift Supervision. John has over 30 years of experience in banking, management, lending, auditing, accounting, and regulatory compliance. John holds Bachelor degrees in Business Administration and Accounting from Idaho State University. John serves on the Board of Directors for NeighborWorks Salt Lake City as well as the Utah Association of Financial Services and previously served on the Board of Directors for Salt Lake Valley Habitat for Humanity and Utah Community Reinvestment Corporation.
Trent joined First Electronic Bank in 2003 as Chief Financial Officer and was additionally named Chief Operating Officer in 2011. Trent is responsible for all financial, risk management and internal control related functions, and likewise oversees the bank’s servicing of private label credit card portfolios. As a member of the executive management team, Trent develops and delivers on broad financial goals and reports financial performance and operational matters to the Board of Directors. Trent also shares responsibility for shaping the strategic direction of the bank and helping develop and implement the strategic partnership program. Trent successfully led the development and refinement of a system of financial controls while crafting financial strategies to offset and mitigate a volatile economic and regulatory landscape, including the broad impact of the Credit Card Act, during the Great Recession.
Prior to joining First Electronic Bank Trent spent ten years with Novell (formerly NASDAQ:NOVL) a global software and technology services company with peak gross revenue over $1 billion. While at Novell, Trent was responsible for all cash and treasury management functions, as well as foreign exchange activities. Trent managed accounts payable, directed cross-border cash movement, developed currency hedging strategies, and supervised cash accounting and forecasting. Trent held other positions responsible for controlling the corporation’s largest cost center, reporting to the SEC, and underwriting credit to new customers. Trent also developed and managed a foreign exchange hedging program, and structured a $272 million synthetic lease facility.
Trent holds a Bachelor of Science degree in Finance from the University of Utah and MBA from Brigham Young University.
Geri joined First Electronic Bank as General Counsel in 2014. Geri is responsible for the review, negotiation and documentation of contracts, supervision and management of outside litigation, and review of forms and documents for regulatory compliance. In addition, she advises the bank on all regulatory matters. Geri acts as corporate secretary and is responsible for board and committee meeting minutes. Geri is a member of the executive management team and is responsible for regulatory compliance as well as overall management of the bank’s strategic partnership programs. Prior to joining First Electronic Bank, Geri was a shareholder at the regional law firm Callister Nebeker & McCullough where she was a member of the Banking and Finance section. Geri has also served as general counsel for two other financial institutions in Salt Lake City, Utah.
Geri has over 30 years of experience in commercial lending, consumer finance, regulatory compliance, corporate governance and corporate secretary functions. Geri earned her JD from the Quinney College of Law at the University of Utah.
Denise joined First Electronic in 2016 as SVP of Regulatory Affairs. In 2017, she was appointed Chief Compliance Officer. Prior to joining the Bank, Denise was Vice President of Compliance at WebBank where she led a team of Compliance Managers that oversaw the Bank’s Strategic Partner programs such as Dell Financial Services, PayPal, Bluestem, Lending Club, T-Mobile, and more. She was instrumental in developing key risk management tools and a core member of process improvement initiatives. Denise is a member of First Electronic Bank’s executive management team and reports to the Board of Directors with a dotted line to the Bank’s President. Denise’s responsibilities at First Electronic include leading the Compliance function which includes regulatory activities oversight, process improvement, risk management, governance and project management.
Her career spans 30+ years in the banking industry working for companies such as WebBank, Lehman Brothers (Aurora Loan Services), Sallie Mae Bank, Schwab Bank, and New York chartered savings banks . Denise has extensive experience in regulatory compliance, governance, risk management, process improvement, operations, project management, process implementation and strategic planning. She has held positions of Chief Compliance Officer, BSA Officer, CRA Officer, Security Officer, and Head of Loan Servicing. Denise is a CRCM and earned her Masters of Business degree with honors from Marist College in Poughkeepsie, NY. She also graduated with honors from the National School of Banking in 2000.
Tom joined First Electronic Bank in 2016 as Chief Credit Officer. As a member of the executive management team, he directs the bank’s credit administration function and overall credit risk strategy. He also develops, implements, and monitors credit policy and underwriting standards, and plays an active role in managing credit risks associated with the bank’s strategic partnership programs. Prior to joining the bank, Tom spent 14 years at GE Capital in various risk management roles including underwriting, portfolio management, policy and governance. While at GE Capital, Tom created the portfolio management function for a $4 billion healthcare equipment lending and leasing platform, managed the company’s global credit and investment risk policies and standards, and facilitated the Credit and Investment Risk Management Committee. Tom’s 30 years in financial services also includes working in two community banks where he started commercial lending credit and operations departments.
Tom earned a Master’s degree in Business Administration with an Accounting emphasis from DeVry University and a Bachelor’s degree in Business Administration with a Finance emphasis from California State University, Fullerton.