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David Buehler exits as TBAS President

The Territorial Bank of American Samoa is now advertising for a new President as David Buehler’s term ends. This is outlined in a statement released by the bank.

As TBAS prepares to mark a significant four-year milestone on January 8, 2024, when the President & CEO will be ending his assignment and returning to Hawaii, Mr. Buehler took a moment to reflect on the incredible journey shared with the dedicated staff members who have played a pivotal role in the organization's remarkable success.

TBAS board has appointed Owen Peery as acting President & CEO during this transitional period.

The Bank is embarking on a series of leadership transformations to ensure a seamless handover to the new President & CEO, and the Board of Directors has initiated an executive recruitment process to identify the ideal candidate to lead TBAS into a prosperous future.

They invite interested and qualified candidates to apply for the position. According to the bank statement, Mr. Peery brings a wealth of experience and shares a deep commitment to the Bank’s vision.

They have the utmost confidence in Peery's leadership and firmly believe that, under his guidance, TBAS will continue to flourish and achieve new heights of success.

The statement concluded with Mr. Buehler reiterating profound gratitude to every bank team member for their dedication and hard work.

All have greatly appreciated their contributions and will continue to be. As the Territorial Bank of American Samoa looks ahead to a bright future under new leadership, it remains committed to its mission and the values guiding its success.

In July, Governor Lemanu P.S. Mauga called to place Mr. Buehler on Administrative Leave pending the outcome of his hearing with the Office of Financial Institutions. As reported earlier, the Board voted against removing Buehler.

Lemanu cited that as the Office of Financial Institutions (OFI) will be conducting a hearing on the Complaint for Removal issued to the CEO, the Governor requested that the CEO be placed on Administrative Leave pending the outcome of this hearing.

He said that while the Board has chosen not to remove CEO Buehler, that decision is well within the discretion of the law.

Lemanu cited the ongoing failure of the bank to provide its audited financial statements as required by law and the impact of this failure on ASG.

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