Evening star., 1932-04-21
F. v. LEE NEW HEAD
OF SAVINGS BANK
Claude H. Woodward Re-
signs as President of
Mount Vernon.

Claude H. Woodward has resigned as
president Of the Mount Vernon Saw
ings Bank; Frank w. Lee, vice presi-
dent, has been advanced to the presi-
dency and Robert T. Highfield. now
cashier, has been promoted to be vice
president and cashier it was announced
today.
These changes, which will take effect
next June l, were made at a regular
meeting of the board of directors of
the bank yesterday afternoon, and an
nouncement was made in a formal
statement shortly after noon today.
Mr.. Woodward informed the board
according to the official statement,
that lit was with deep and sincere
regret he found it necessary, for purely
personal reasons to tender his reslgna-
tion as president"
President Five Years.
Mr.. Woodward joined the bank as
executive vice president May IS, 1927,
and was made president in January,
1928.
The retiring president expressed sat-
isfaction, said the official statement,
that during the five years he was
president of the bank bis relations with
its officers and the board of directors
had been most cordial and pleasant" )"
Mr. Woodward said he sincerely appre-
ciated the whole-hearted and loyal sup
port he had received at their hands and
that he would always cherish the friend
ships growing out of these associations.
He assured them that his relinquish-
ment Of the presidency would IN no
wise lessen his interest in the welfare
of the bank, and said he wanted them
to feel free to call on him at any time
for such advice or assistance he might
be able to give or render
Wishing his successors the utmost
success, Mr.. Woodward said it was a
matter of qualification to him to know
that the affairs of the bank would be
left in the hands of capable officers,
fully qualified to safeguard its inter-
ests and to render to its depoSitors the
same satisfactory service on which the
reputation of the bank had been built.
Work Is Praised.
In accepting Mr.. Woodward's resig-
nation, the board adopted resolution
expressing the appreciation of its mem
bers for the service rendered the bank
by its retiring president and said that
progress during the past five SSarS had
been largely Que to his efforts and to
the efficient conduct of its affairs;
The new president entered the bank
as manager of new business in Sep
tember. 1928. He was made assistant
cashier in 1925 and elected vice presi-
dent in 1928, in which capacity he has
since served.
Mr.. Highfield came to the Mount Yer
non Savings Bank in 1920 as assistant
cashier. Previously he had been en-
ployed by the Security Savings and
Commercial Bank of this city. He is
a native of washington. attended Cen
trail High School and Georgetown Uni
yersity and graduated from the Amer
lean Institute of Banking.
A. o. Wharton, president OF the In
ternational Association of Machinlsts
and vice president of the bank, speak
ing for himself and associates said,
while I regret it has become. neces-
sary for Mr.. Woodward to resign the
of the Mount Vernon Saw
inps Bank, we are indeed most for
tunate in having in cur institution two
men of long training, wide experience
and social and business contact, to
whom the conduct of the affairs OF the
bank may be safely intrusted. They
both have the absolute confidence OF
the board of directors. our stockholders
and our depositors. and we are conf
dent that their promotion will meet
with general approval"