Banking vet Tod Trulove is hanging up his financial hat after over three decades of crunching numbers and stepping down as Assistant Commissioner of the Bank Division, the Tennessee Department of Financial Institutions confirmed today. Trulove, who climbed the ranks over 33 years and spent the last 20 years leading the division responsible for supervising state-chartered banks and other institutions, will seal his ledger at the end of April, closing a chapter marked by extensive collaboration with industry peers and regulatory bodies.
A native of Columbia and Middle Tennessee State University grad, Tod Trulove began his career peering into the financials as an examiner before taking the reins of the Bank Division, where he’s become a respected name. Since 2013, he doubled as an instructor at the Graduate School of Banking at Louisiana State University, from which he also holds a diploma. "Tod has done much to ensure a safe and sound Tennessee banking system," Commissioner Greg Gonzales remarked in a statement obtained by the Tennessee Department of Financial Institutions, "Tennessee is indeed grateful for his service, and we wish him well in this next chapter."
With Trulove's departure on the horizon, the Department didn't have to look far for his successor, ushering Philip Ruffin into the Assistant Commissioner chair. Ruffin, who's been part of the Department since 2006, served as head honcho of the Large Bank section since it kicked off in 2017. Before that, he kept tabs on banks as an examiner with the FDIC. The Tennessee Technological University alumnus steps into his new role with experience and Commissioner Gonzales’ hearty endorsement.
"It’s my pleasure to congratulate Phil on this promotion," Gonzales beamed, a sentiment echoed in the Department's official announcement, "He is a valued member of our team and serves an integral role as we work to fulfill the Department’s mission of providing the people of Tennessee with a safe and sound banking system while giving institutions the opportunity to contribute to the economic progress of Tennessee and the nation." Phil Ruffin, who also boasts a banking degree from LSU, will now take the lead in ensuring financial institutions under the Division's purview continue to operate within the sound fiscal parameters expected by the Volunteer State.
