FFKY announced that Senator Walter Dee Huddleston will step down as the Chairman of the company�s Board. Huddleston is stepping down after serving as Chairman for 15 years. He will continue as a director. Huddleston said that the company has seen many opportunities and challenges during his 15-year tenure and is appropriately poised for the new challenges and opportunities which lie ahead.�
Huddleston will be replaced by J. Stephen Mouser as Chairman of the Board. Mouser is the President of Mouser Custom Cabinetry LLC, a family-owned cabinet manufacturer in Elizabethtown. He has served on a number of Board committees of FFKY and First Federal Savings Bank.�
First Financial Service also announced that B. Keith Johnson, CEO of FFKY and First Federal Savings Bank, will also step down. Johnson is stepping down to due to health issues. Johnson will be replaced by Gregory S. Schreacke, who joined the company as CFO in 2004.�
Johnson said that he is confident in the current direction of the bank and the leadership capabilities of Mouser and Schreacke. Johnson said that he has been reluctant to step down due to financial challenges facing the company, but with the recent improvement in credit quality, improvement in capital and additional strategic plans in progress, he feels the timing is now appropriate.�
FFKY also announced that Dann Small will join First Federal Savings Bank as Chief Lending Officer. Small�s appointment is subject to regulatory approval.�
Following the announcement, First Financial Service shares have risen sharply today. The stock rose to an intra-day high of $3, and at last check, it was up 21.74% to $2.80.�
No comments:
Post a Comment