Hance asked to help shake up management of big Houston bank - KCBD NewsChannel 11 Lubbock

Hance asked to help shake up management of big Houston bank

James Clark - email

LUBBOCK, TX (KCBD) - A privately owned investment firm wants some help from Texas Tech Chancellor Kent Hance to shake up the management at a Houston bank.  The investment firm, TAC Capital, in Bryan Texas says Sterling Bank has lost nearly 9% of its value and is failing to recover from recession while other banks are recovering. 

TAC Capital sent a letter to Sterling Bank stockholders last week asking support to elect five men to the Sterling board of directors including Hance.  TAC owns 10% of Sterling Bancshares.  Sterling has $5 Billion in assets and declared a modest 3rd quarter profit along with a small dividend on October 28th. 

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