Back home in Indiana: Ex-First Federal CEO says he quit for personal reasons connected with family business

By Paul Gottlieb
Peninsula Daily News

FRANKFORT, Ind. — Levon Mathews, the former president-CEO of First Federal, said Friday he is working at a family business in Indiana and took issue with the notion his departure from Port Angeles in December was abrupt.

First Federal announced his resignation Dec. 21 as “effective immediately” in a statement released the same day.

“I’ve been thinking about it for a long time,” Mathews said Friday in a brief telephone interview.

Mathews said he resigned for personal reasons.

“It’s really a personal situation between me and my family business,” Mathews said.

“Everything I’ve done is related to my family business.”

On his profile on www.linkedin.com, a professional networking and resume website, Mathews is listed as the chief financial officer for Mathews Farm Buildings of Frankfort, Ind., from December 2012 to the present.

He is listed as president, CEO and board of directors’ member of First Federal from September 2009 to December 2012.

Mathews said he hopes one day to get back into the banking business.

“Good things will happen at First Fed,” he added.

He would not comment on assertions that bank employees made to the Peninsula Daily News that his resignation was preceded by an investigation conducted by an outside human resources expert.

Interim bank President-CEO Larry Hueth, who is already First Federal’s executive vice president and chief financial officer, said he has not had any contact with Mathews since his resignation.

“The only thing that was indicated to me was that it was personal in nature on his part,” Hueth said.

“I worked with him closely, as everyone did,” Hueth added.

“He’s done some great things for this bank, and I wish him well.”

Mathews’ last day at the bank was the same day he submitted his resignation letter, bank board of directors’ Chairman Richard Kott said last week.

“He actually didn’t give a reason” for resigning, Kott said.

“He just resigned,” Kott added.

“I believe he was going back to manage his family farm.”

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Senior Staff Writer Paul Gottlieb can be reached at 360-452-2345, ext. 5060, or at paul.gottlieb@peninsuladailynews.com.

Last modified: January 05. 2013 5:57PM
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