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Top banking moves: Peoples Bankshares CEO to move to C&F Financial after merger

S&P Global Market Intelligence presents a weekly news summary of executive management and board chair-level changes in the bank and thrift industry.

Aug. 15

Andrew Stein, president and CEO of Summit Financial Enterprises Inc. and Summit Bank NA, will become president of Tupelo, Miss.-based BancorpSouth Bank's Northwest Florida division after the completion of BancorpSouth Bank's merger with Summit Financial Enterprises and Summit Bank.

Also, Randle Jones, president of Van Alstyne Financial Corp. unit Texas Star Bank, will become BancorpSouth Bank's market president for Grayson County, Texas, upon completion of the deal with Van Alstyne Financial and unit Texas Star Bank.

Aug. 14

John Peruzzi, who headed Citigroup Inc.'s $1 billion principal-investing desk, has left the bank as the company is closing down its Citi credit opportunities team, which made loans to small and midsize firms, Business Insider reported.


Roy Harmon, CEO of Kingsport-based Bank of Tennessee, is retiring.

Harmon is also CEO of the bank's divisions Carter County Bank and Mountain Community Bank.

Dale Fair will become CEO, pursuant to the bank's succession plan.

Aug. 13

Robert Bailey, president, CEO and a director of Montross, Va.-based Peoples Bankshares Inc., will join Toano, Va.-based C&F Financial Corp. as senior banking officer for the Northern Neck region of Virginia.

Bailey is making the move pursuant to the merger agreement between C&F Financial and Peoples Bankshares.


Thomas Budd, president and CEO of Moline, Ill.-based QCR Holdings Inc. unit Rockford Bank and Trust Co., will become president of Illinois Bank & Trust.

The move is part of the agreement for Illinois Bank & Trust to acquire substantially all the assets and assume substantially all the deposits and certain other liabilities of Rockford Bank and Trust Co.


Converse, Ind.-based First Farmers Financial Corp. approved Mark Holt's appointment as president of subsidiary First Farmers Bank & Trust and as a director of both companies, effective Sept. 1.

Holt is an executive vice president of the bank.

The appointment is part of a leadership succession plan, as current First Farmers Financial and First Farmers Bank & Trust President and CEO Gene Miles intends to decrease his daily workload.

Miles will still be president and CEO of First Farmers Financial, the CEO of First Farmers Bank & Trust, and a director of both companies.


Hattiesburg, Miss.-based Grand Bank for Savings FSB appointed Chris Sawyer CFO, the Mississippi Business Journal reported.

Sawyer was a co-owner and director of ZeroRPM Inc., according to the report.

Aug. 9

The president and COO of Sioux Falls, S.D.-based Great Western Bancorp Inc., Douglas Bass, and executive vice president and chief credit officer of the company, Michael Gough, have transitioned out of their respective roles.

Bass remains COO of the company and will focus on loan, deposit and wealth management growth. The role of president will be assumed by Kenneth Karels, the company's chairman and CEO.

Gough will continue as interim chief credit officer and executive vice president until a successor chief credit officer is appointed. He will assist in the transition and after will be a nonexecutive employee of Great Western as a senior vice president for credit.


Boise-based Idaho Trust Bank co-founder and President Thomas Prohaska was promoted to chairman, president and CEO, Idaho Business Review reported.

Christopher Coyle, who previously was vice president and investment manager, was appointed chief investment officer, according to the report.

Also, Chief Banking Officer Joel Hickman and Chief Wealth Management Officer Desiree Prohaska were named executive vice presidents in addition to their current roles.