R. Scott Racusin

Chief Executive/President

Wedbush Bank, Los Angeles

Appointed February 2007

Age: 55

Education: Bachelor’s degree, Roger Williams University; A.B.A., Stonier Graduate School of Banking; M.B.A., Claremont Graduate University

Previous Position: Executive vice president, Citizens Business Bank, 2 years

Goal: To build a strong, profitable independent bank that contributes to the community, and provide a challenging and fulfilling work environment for our associates.

What’s Wrong With Banking Now: The balance sheets of the larger financial institutions need immediate repair. A very real crisis of confidence in the financial system as a whole has been created. People wake up every Saturday morning to find out what banks were closed or taken over the night before.

What’s Right: Banks like Wedbush and most of the other community banks in the country are actively working and lending in their respective communities to support small and middle market businesses. Although it may sound counterintuitive, this is actually a great time to be a de novo bank. As Wedbush Bank approaches its one-year anniversary at the end of this month, we have a clean balance sheet, a lot of liquidity and a very stable capital base.

I Decided to Be a Banker Because: It was 1974, we were in the middle of a bad recession and I was just out of college and needed a job. Security Pacific Bank was still hiring.

What Surprised Me About Banking: Over the years, it has been surprising that bankers tend to have short memories. As an industry, we tend to make the same mistakes over and over again.

If I Were Not a Banker I Would Be: An actor. Although recently, the lines between the two appear to be blurred.

My Colleagues Don’t Know: They will continue not to know about me.

Best Advice: Believe in your decisions regardless of the criticism you will receive.

What I Do for Fun: Travel; biking; skiing.