ASHLAND, Ky., Aug. 24, 2015 /PRNewswire/ -- Poage
Bankshares, Inc. (NASDAQ: PBSK) (the "Company") and Town Square
Bank (the "Bank"), announced today that Bruce VanHorn has been appointed to succeed
Ralph E. Coffman, Jr. as President
and Chief Executive Officer of the Company and Chief Executive
Officer of the Bank, effective August 21,
2015.
Mr. VanHorn previously served as President of Town Square Bank
and President, Chief Executive Officer and Chairman of the Board of
the former Town Square Financial Corporation. He has worked
in the financial industry since 1987. Mr. VanHorn has an
associate degree in chemistry from the University of Kentucky, a Bachelor of Business
Administration from Marshall University
and an MBA from Morehead State
University. He is also a graduate of the Kentucky School of
Banking at the University of Louisville
and the Graduate School of Banking at Louisiana State
University.
Thomas P. Carver, Chairman of the
Board, stated that "We are thrilled that Bruce is assuming the role
of Chief Executive Officer of Poage Bankshares and Town Square
Bank. Bruce brings deep banking experience and the knowledge,
perspective and expertise to lead the Company and Bank into a
prosperous future. Bruce is very well known in our community
and will help us deepen our ties with local families and
businesses."
The Bank also announced the appointment of Darryl E. Akers, Stephen
S. Burchett and Daniel King
III to its Board of Directors. Mr. Akers served as
President and Chief Executive Officer or Co-President and Co-Chief
Executive Officer of the Bank from 1997 until his retirement in May
2012. Mr. Burchett, a current director of the Company, is a
partner with the law firm of Offutt Nord
Burchett, PLLC. Mr. King, a current director of the
Company, has practiced law as a solo practitioner in Catlettsburg, Kentucky, since 1978 and has
served as the Assistant Attorney for Boyd
County since 1985.
Mr. Carver added that "We are excited to add Darryl, Dan and
Steve to the Bank's board of directors. They each bring
unique experiences, talents and community ties to our board and
will help us build a stronger bank in the future."
Finally, the Company and the Bank announced that Ralph E. Coffman, Jr., President, Chief
Executive Officer and a Director of the Company and Chief Executive
Officer and a Director of the Bank, resigned from such positions
effective August 21, 2015. Mr.
Coffman served as the Company's President and Chief Executive
Officer and the Bank's Chief Executive Officer since 2012.
Mr. Carver indicated "We thank Gene for his leadership with the
Company, including his valuable services in our successful
acquisitions of Town Square Bank and Commonwealth Bank. He
has always worked hard for the Company and the Bank and leaves
these institutions in better shape than when he joined them."
Poage Bankshares, Inc. is the savings and loan holding company
for Town Square Bank. Originally chartered in 1889 under the
name "Home Federal Savings and Loan Association" and headquartered
in Ashland, Kentucky, Town Square
Bank conducts its operations from 9 full-service banking offices
located in Ashland, Flatwoods, South
Shore, Louisa, Greenup, Nicholasville, Cannonsburg, Catlettsburg, and Mt. Sterling, Kentucky.
Contact:
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Thomas P. Carver
II
|
|
Chairman of the
Board
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|
(606)
324-7196
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SOURCE Poage Bankshares, Inc.