Background
Killinger, Kerry Kent was born on June 6, 1949 in Des Moines.
Businessman chairman president
Killinger, Kerry Kent was born on June 6, 1949 in Des Moines.
Killinger received his education at the University of Iowa, from which he received his Bachelor of Business Administration in 1970 and Master of Business Administration in 1971.
He began his career in the financial services industry in 1972, as an investment analyst with Bankers Life Insurance Company of Nebraska, and moved on to Murphey Favre in the 1976, at which he was a securities analyst and eventually a vice president Acquired Murphey Favre in 1983, and Killinger was named executive vice president, and was promoted in 1986 to senior vice president, and to director in 1988. He was named president of the company that year, Chief Executive Officer in 1990, and chairman in 1991.
American Banker named him its 2001 Banker of the Year.
In 2003, Killinger predicted that by 2008, would not be identified as a bank. He said "We hope to do to this industry what Wal-Mart did to theirs, Starbucks did to theirs, Costco did to theirs and Lowe’s-Home Depot did to their industry."
Faced with mounting losses from the mortgage market and deep declines in the stock price as a result of the subprime mortgage crisis, the board of directors removed Killinger as Chief Executive Officer on September 8, 2008.
The Office of Thrift Supervision (OTS) seized "s banking divisions on September 25, 2008, and named the Federal Deposit Insurance Corporation as their receiver in the largest bank failure in the history of the United States. While Chief Executive Officer of in 2007, Killinger earned a total compensation of $14,364,883.
In 2008, he took home $25.1 million in compensation.
Killinger received a $15.3 million severance payment in September 2008 "as well as a $445,200 lump-sum payment for vacation benefits and a $300,669 "special payment"". In March 2011, Killinger and two other bank officers were sued by the Federal Deposit Insurance Corporation for "reckless lending".
Board directors Federal Home Loan Bank of Seattle, since 1995, Seattle Repertory Theatre, since 1990, Washington Roundtable, since 1990, Downtown Seattle Association, 1991, Leadership Tomorrow, Seattle Foundation, since 1992, Committee to Encourage Corporation Philanthropy. Member Alliance for Education, since 1992, chair, 1994-1996, co-chairman Acquired Immune Deficiency Syndrome Walk-a-thon, Seattle, 1990. Chair Partnership for Learning, 1997.
Fellow Life Management Institute. Member Society Finance Analysts, Greater Seattle Chamber of Chamber (board directors since 1992), Rotary.
Married Linda Killinger.