Leadership Change at Alterra Bank

The parent company of Alterra Bank, First Business Financial Services, Inc., has announced that Alterra president and CEO, Pam Berneking is no longer with the bank.

Chuck Mackey, Alterra Bank Board Chairman, said, “Under Pam’s leadership, Alterra Bank set out to serve the small business community in Kansas City with a focus on entrepreneurs,” adding, “Alterra has grown to become Kansas City’s top SBA lender every year since 2012. We owe a debt of gratitude to Pam and wish her well in her future endeavors.”

David R. Seiler, Chief Operating Officer First Business, has been appointed interim president and CEO of Alterra’s Kansas City headquarters while an executive search for a permanent replacement is conducted.

In a release announcing the change, First Business said that Berneking’s departure comes, “After working to effectively complete the First Business and Alterra Bank business combination started in 2014, and in mutual agreement.”

Alterra also announced that it will be closing its Overland Park branch and consolidating all of its Kansas City operations into its Leawood headquarters, in keeping with a branchless model that is “consistent with the Alterra business model.”