Memphis bank names new CEO; eclipses $1B in assets

Omer Yusuf | Memphis Business Journal

One of the Memphis-area's largest banks has named a new CEO. And the bank recently surpassed a significant financial milestone.

Financial Federal president William Tayloe is set to become the company's next CEO effective Nov. 1, 2025. Current CEO Kent Wunderlich, who has held the top role since 1987, is set to remain chairman of the bank's board of directors.

Tayloe said in an interview with Memphis Business Journal that as CEO he wants Financial Federal to maintain one of its key strengths - consistency.

"I don't expect any dramatic changes," Tayloe said. "We will continue to do what we do well, but we always try to improve and innovate as we move forward."

Financial Federal's financial milestone

The change in leadership comes as Financial Federal has now reached the $1 billion threshold in assets after 40 years in business.

Financial Federal is the fifth-largest Memphis-based bank with over $800 million in total deposits, according to FDIC data.

"It's definitely rewarding to see the hard work that's been put in for a number of years come to fruition, but it's really just a number," Tayloe said. "We just focus on what we do every day and try to do it well and then repeat it the next day. In our experience, if you do that, the growth will take care of itself."

Tayloe said the company has prepared and planned ahead of reaching the $1 billion mark. Financial Federal has brought on multiple key positions because of its new financial milestone as the bank adjusts to new regulatory compliance.

Financial Federal appointed Connor Shannon as CFO. In his role, Shannon is set to work with the bank's executive leadership team on its financial strategy, reporting, and capital planning. He most recently served as AVP and controller at Bank3 from 2022-25.

The bank hired Robert Ducklo, who has 25 years of legal experience in the banking industry, as its general counsel. He is set to advise and help Financial Federal navigate its regulatory compliance in addition to risk management and operational items.

Financial Federal also appointed former EVP and chief credit officer Steve Sutton to its board of directors.

"We're currently involved with a number of really good projects around the city, and we have a healthy pipeline currently," he said. "It's an exciting time to be here … and continue the growth pattern."

Financial Federal announces more promotions

Financial Federal also confirmed the following staff promotions below in addition to the ones previously mentioned.

Ben Sutton - chief credit officer
Ethan Minderman - SVP, chief information officer
Stephanie Richer - SVP, chief deposit officer
Emily Berkey - SVP, chief servicing manager for the Capital Markets Group
Ginny Johnson - SVP, home equity credit lines
Shawna Engel - SVP