NMBA elects 2007 board of directors

CHICAGO – The National Marine Bankers Association elected three new members to serve on the NMBA board of directors, in addition to naming a new slate of officers for the 2007-2008 season, at its most recent meeting in Dec. 2006, NMBA said in a press release yesterday.

NMBA members elected to serve three-year terms on the board include Peggy Bodenreider, vice president of marine sales, GE Consumer Finance, Irvine, Calif.; Mike Bryant, vice president, Trident Funding Corp., Newport Beach, Calif.; and Mike Smith, president and co-founder, Global Marine Insurance, Traverse City, Mich.

Bill Otto, an NMBA founding member, will serve on the board as an emeritus director. A 37-year marine industry veteran, Otto has served on the NMBA board since 1979 and has been vice president of KeyBank’s Recreation Lending Group in Grandville, Mich., for the last 18 years. Otto was also elected to serve as NMBA’s treasurer for the 2007-2008 term.

Other NMBA board members elected to officer positions include: Jim Coburn, president; Karen Trostle, vice president; and Mike Ryan, secretary. Don Parkhurst of SunTrust Bank in Fairfax, Va., becomes immediate past president and will continue occupying a seat on the board. All elected officers will serve one-year terms, which expire in December 2007.

“One of our first orders of business is to implement the new Associate Member program recently approved by the NMBA general membership,” Coburn said. He is a former NMBA president and is the chief credit officer/risk manager for BB&T’s Specialty Products Division in Greensboro, N.C.

Trostle is president of Sterling Acceptance Corp. in Annapolis, Md. She formed Sterling in 1987 as a financial service company. Today, Sterling has four marine/RV production offices on the East Coast, specializing in loans in excess of $100,000.

Ryan has more than 20 years of banking and financial service experience and is the current vice president of M&T Bank’s Consumer Asset Management Division in Amherst, N.Y. He is primarily responsible for the liquidation of M&T’s collateral, which includes boats, RVs and automobiles.

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