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Anchor Loans Elects New CEO

Navi Persaud
Aug 13, 2020
First Merchants Corp., the Muncie, Ind.-based holding company for First Merchants Bank, has reached a settlement agreement with the U.S. Department of Justice (DOJ)

Anchor Loans' board of directors selected Andrew Pollock to succeed Stephen Pollack as CEO of the company. The new appointment is a result of Pollack's decision to retire as CEO in Q4 of this year, though, he will still serve as a full-time member on the board of directors.

"Andrew is a proven and effective leader, and based on his already lengthy list of contributions to Anchor as well as his past experience as CEO for First Franklin Financial Corporation and senior executive to other large organizations, we fully expect Mr. Pollock to excel in this role," said Michael Gontar, current board member.

Dr. Pollack will work closely with Pollock and the board of directors during the transition.

Pollock joined Anchor in March 2019, according to the press release. He was initially selected to strengthen Anchor's senior executive team. Pollock has more than 30 years of experience at the executive level in the mortgage industry, six of which were as CEO of one of the largest non-prime lenders in the country.


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