John Gutierrez resigned as executive vice president and CFO of Glendale, Calif.-based Golden State Bancorp and unit Golden State Bank, effective April 26 to pursue other professional interests.

A newly hired CFO is expected to join the company and the bank on June 20, according to a news release.

Golden State Bancorp reported net earnings of $558,247 for the first quarter, compared with $818,162 for the same period in 2018. The company also disclosed that as of March 31, all 112,328 shares of series A convertible preferred stock were converted to common shares at a conversion ratio of 3.6922 and resulted in the addition of 414,737 common shares outstanding.