1 William C. Walbrecher Jr., an executive at San Francisco-based 1st Nationwide Bank, was named president and chief executive officer of Citadel Holding Corp. and its principal operating unit, Fidelity Federal Bank.
2 The appointment takes effect Nov. 13.
3 He succeeds James A. Taylor, who stepped down as chairman, president and chief executive in March for health reasons.
4 Edward L. Kane succeeded Mr. Taylor as chairman.
5 Separately, Citadel posted a third-quarter net loss of $2.3 million, or 68 cents a share, versus net income of $5.3 million, or $1.61 a share, a year earlier.
6 The latest results include some unusual write-downs, which had an after-tax impact of $4.9 million.
7 Those included costs associated with the potential Valley Federal Savings and Loan Association acquisition, which was terminated on Sept. 27, 1989.
8 In addition, operating results were hit by an increase in loan and real estate loss reserves.
9 In American Stock Exchange composite trading, Citadel shares closed yesterday at $45.75, down 25 cents.

William C . Walbrecher Jr . , an executive at San Francisco - based 1st Nationwide Bank , was named president and chief executive officer of Citadel Holding Corp . and its principal operating unit , Fidelity Federal Bank .
named president and chief executive officer
How did these spots become vacant prior to his appointment?