Allan Nichols Will Attempt His Magic on Citizens First

By Braitman, Ellen | American Banker, February 28, 1992 | Go to article overview

Allan Nichols Will Attempt His Magic on Citizens First


Braitman, Ellen, American Banker


Allan D. Nichols has been up and he's been down in more than 30 years on the retail banking scene. He pioneered automated teller machines in the Southeast, pushed Ranier National Bank to new marketing heights in the Northwest, and trid to irrigate the parched coffers of a thrift in the Southwest.

Now he is back in his home turf in the Northeast, eager to revive a stricken New Jersey bank with a formula that combines the pitchman's enthusiasm with the bank doctor's hard-nosed attention to the bottom line.

A Challenge

Mr. Nichols, 54, was named this week as chairman and chief executive officer of Citizens First Bancorp in Glen Rock, N.J. The $2.5 billion-asset company lost $102 million in 1990 and eked out a $3 million profit last year.

"I'm here now to bring some life, some enthusiasm, and some good balance-sheet management to Citizens First," Mr. Nichols said in a phone interview on Thursday. "It's time to put the pieces back together again."

Mr. Nichols appears well qualified for the job. For the past two years he had been chairman, chief executive, and president of American Federal Bank of Dallas, a government-assisted thrift that was bought in 1988 by Lone Star Technologies as part of the Southwest Plan.

Contest with Banking Giants

In his 18 months at American Federal, Mr. Nichols helped raise its Tier 1 capital from 2.5%, to 7%. But he said the constraints of reporting to the Federal Deposit Insurance Corp. and the struggle to compete with banking giants like NCNB Corp. and Banc One Corp. made him long to return to a commercial bank.

Mr. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Allan Nichols Will Attempt His Magic on Citizens First
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.