SouthFirst Bancshares, Inc. Announces Selection of New Chief Executive Officer
07 Julio 2005 - 9:51AM
Business Wire
SouthFirst Bancshares, Inc., a federally chartered thrift holding
company (AMEX: SZB) located in Sylacauga, Alabama, announced today
that it had selected Sandra H. Stephens as its permanent Chief
Executive Officer following a three-month search. Ms. Stephens had
previously agreed to assume the role of interim CEO following the
departure of former President and CEO, Joe K. McArthur, in March of
2005. "Based on past experience, having worked closely with Ms.
Stephens over the past many years and having observed her serving
in the interim role of CEO over the last three months, I have
complete confidence in her abilities to lead the company forward
and to maximize returns for the company's stockholders," Allen Gray
McMillan, III, Chairman of the Board, said. "Her expertise and
knowledge of our company positions us well as we seek to move
forward, focused on improving the company's core earnings." Ms.
Stephens was elected as director of the company and of First
Federal of the South, FSB, its wholly-owned subsidiary (First
Federal), in November 2002, and has served as Executive Vice
President and Chief Operating Officer of the company and First
Federal since November 2001. Prior to joining the company, Ms.
Stephens served as the Chief Operating Officer, from 1997 to 2001,
and Chief Financial Officer, from 1992 to 1997, of First Federal
Bank, in Tuscaloosa, Alabama. Before then, Ms. Stephens held
various executive positions with Federal Home Loan Mortgage
Corporation, Atlanta, Georgia from 1990 until 1992, and with
Pinnacle Bank, Jasper, Alabama from 1981 until 1990. "I am very
grateful to the Board of Directors for placing its trust and
confidence in me to manage and lead the company," Ms. Stephens
said. "I look forward to this challenge and the opportunity to
substantially improve profitability for the company." First Federal
offers a full range of consumer, mortgage, residential
construction, and commercial loans, as well as savings, checking,
and other commercial products in the full service offices located
in Sylacauga, Talladega, and Clanton, with mortgage and residential
products offered at the lending offices of its wholly-owned
subsidiary, SouthFirst Mortgage.
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