New Haven Independent

William Placke, former president of Waterbury-based Centerbank, began his $180,000-a-year job last week as CEO of First City Funding Corp.

That’s the not-for-profit started with $25 million from a deal struck after the old New Haven Savings Bank converted in 2004 from a local mutual savings bank into a regional publicly-owned colossus-in-the-making called NewAlliance.

First City is charged with creating a new not-for-profit bank dedicated to small-business and homeowner lending in city neighborhoods — just in time to navigate a foreclosure crisis.

Such “community development banks” have sprung up across the country the past few decades. Prime examples: South Shore in Chicago (the granddaddy), City First in D.C., and North Milwaukee State Bank.

New Haven’s version was on the brink of being launched this winter when its CEO, Chandler Howard, suddenly resigned to take a new job. (Read about that here.)

Placke was hired after a search that netted 10-15 candidates, a list that was narrowed down to four finalists, according to Mark Sklarz, president of the First City board.

“We are delighted” with Placke’s hiring, Sklarz said. “He brings the experience and background that will be consistent with our mission and the unique institution we believe we will bring to New Haven’s under-banked community.”

Placke served as president and chief operating officer of Centerbank from 1992-1996. Next he served as president and CEO of Boston’s First Trade Union Bank from 1998-2001. His most recent post: executive vice-president of Bank of New York Mellon Corp. in Morristown, N.J.