The bank was reorganized with the appointment of Shotaro SUGIMURA as the new head of the bank who had the opinion of the executives in insisting the complete exclusion of Iwashita and his clan from Kitahama Bank upon his resignation for taking his responsibility for the event.
岩下はこの責任を取り頭取を辞することになり、次の頭取を決めることになったが、岩下を北浜銀行から完全排除すべきという考えの重役が新頭取に杉村正太郎を立て重役会を刷新し、新体制で経営をスタートさせた。