July 23, 2014 4:42 PM ET

Banks

Company Overview of Discover Bank

Company Overview

Discover Bank provides banking services. It offers online savings accounts, money market and certificate of deposits accounts, individual retirement account CD accounts, credit cards, and college and graduate school loans. Discover Bank was formerly known as Greenwood Trust Company and changed its name to Discover Bank in August 2000. The bank was founded in 1911 and is based in Greenwood, Delaware. Discover Bank operates as a subsidiary of Discover Financial Services.

502 East Market Street

Greenwood, DE 19950

United States

Founded in 1911

Phone:

302-349-4512

Fax:

302-349-5339

Key Executives for Discover Bank

Chairman and Chief Executive Officer
Age: 53
President and Director
Age: 56
Chief Financial Officer
Chief Operating Officer
Age: 49
Executive Vice President
Age: 54
Compensation as of Fiscal Year 2014.

Discover Bank Key Developments

Discover Bank Issues $400 Million of Notes

Discover Bank on March 13 issued and sold $400 million of its 4.250% notes due March 13, 2026. The notes are direct, unconditional and unsecured general obligations of Discover Bank and rank pari passu among themselves and all other unsecured and unsubordinated indebtedness of Discover Bank, except deposit liabilities and other obligations that are entitled to any priorities or preferences. The notes will bear interest from March 13 until the principal of the notes has been paid in full or a sum sufficient to pay the principal of the notes has been made available for payment. Interest on the notes will be payable semiannually in arrears on March 13 and Sept. 13 of each year, starting Sept. 13. Payments will include interest accrued to, but excluding, the relevant interest payment date. Interest on the notes will be calculated on the basis of a 360-day year of 12 30-day months.

Discover Bank Names James J. Roszkowski as President

Discover Bank announced that senior banking executive James J. Roszkowski has been named president of the Bank, bringing more than 30 years of experience in consumer banking, financial services, payments and economic development to the company's management team. A Delaware resident, Roszkowski is responsible for all aspects of the bank's Delaware banking activities and serves as a liaison to the greater Delaware business community. In a senior leadership capacity, he directs all operations of the bank's Greenwood Branch and drives the bank's Community Reinvestment Act strategy. He also manages the bank's diverse CRA portfolio and will lead efforts to help meet the borrowing needs of low- to moderate-income families in the Delaware region. Additionally, Roszkowski has responsibility for managing consumer banking affinity relationships. He is a member of the Discover Bank board of directors and reports to Carlos Minetti, president of consumer banking and operations at Discover. In his most recent role, Roszkowski was a senior executive vice president and a member of the Senior Operating Management Committee of MBNA America, where he worked since 1989. Roszkowski also has served as CEO of Patria Services and in various senior-level corporate positions at VISA International and Chase Manhattan Bank. He was a senior advisor on economic development for former Delaware Gov. Ruth Ann Minner and will continue to be a Board Member-Chairman of the Public Policy and Governance Committee for First State Innovations.

Discover Bank Announces Financial Year Change

On December 4, 2012, the Board of Directors of Discover Bank approved a change to Discover Bank's fiscal year end from November 30 to December 31 of each year. This approval by the Board also included a change to the fiscal year end of each of Discover Card Execution Note Trust and Discover Card Master Trust I from November 30 to December 31 of each year.

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