Touchstone Bankshares Names Toni Lee-Andrews to Board of Directors

Rhea-AI Summary

Touchstone Bankshares (OTC Pink: TSBA) announced the appointment of Toni Lee-Andrews to its Board of Directors as of September 22, 2022. Lee-Andrews, who is the President of Andrews CPA Associates, brings over 22 years of accounting experience. Her diverse background includes working with various clients and serving on the AICPA's Professional Ethics Division. Touchstone Bank President James Black expressed confidence that her expertise will enhance the bank's strategic initiatives and community focus. This addition aims to bolster leadership diversity and support local growth.

Positive

• Toni Lee-Andrews brings over 22 years of accounting experience, enhancing the company's management team.
• Her local presence and strong business network are expected to support the bank's strategic objectives and growth.
• The appointment strengthens the diversity of the Board, aligning with community banking goals.

Negative

• None.

PRINCE GEORGE, Va., Sept. 22, 2022 /PRNewswire/ -- Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA) announced today that its Board of Directors appointed Toni Lee-Andrews as Director of the Company.  Toni will also serve as a Director to the Company's wholly owned subsidiary Touchstone Bank (the "Bank").

Lee-Andrews is the President of Andrews CPA Associates, P.C. located in Colonial Heights, Virginia. With over 22 years of experience in accounting, she has been a certified public accountant since 1996, working since 1990 with a diverse group of clients in several industries in the Tri-Cities region. The firm's services include business, personal, estate and trust tax planning and preparation, bookkeeping and payroll services, IRS representation, and QuickBooks accounting support. She is also Director of the Professional Ethics Division at the American Institute of Certified Public Accountants (AICPA).

"I am excited to serve on the Board and look forward to supporting the bank's strategic objectives. My passion for community banking and what Touchstone stands for makes this a wonderful opportunity to help support their growth and our local communities," said Lee-Andrews.

"We are honored to have Toni join our Company and Bank's Board of Directors. Her insight into the Tri-Cities community, strong business experience, and vast network will be a tremendous asset," Touchstone Bank President and CEO James Black said. He continued, "Toni's financial expertise coupled with her local presence fits well with our mission. It is also vital to add further diversity and experience to our Boards."

Toni graduated Summa Cum Laude from Mount Olive College in Mount Olive, North Carolina with a Bachelor of Science degree in Accounting. She began her professional career at Petersburg CPA firm Gregory & Associates. In 1996 she founded Barwick & Lee CPAs which later joined forces with another Tri-Cities CPA, Francis Andrews and today she is President of Andrews CPA Associates. 

Lee-Andrews is member of the AICPA, Virginia Society of Certified Public Accountants (VSCPA), North Carolina Association of Certified Public Accountants (NACPA), and Country Club of Petersburg, where she formerly served in the positions of President and Treasurer. Prior to becoming Director of the Professional Ethics Division, she also served on several committees of the AICPA.

About Touchstone Bankshares, Inc.

Touchstone Bankshares, Inc. is the bank holding company for Touchstone Bank. The Company, through the bank and affiliates, provides a wide range of financial services including retail and commercial banking, credit cards, and secondary market mortgage lending. Touchstone also provides investment and wealth management services. Visit www.touchstone.bank for more information.

Forward-Looking Statements

In addition to historical information, this press release may contain certain forward-looking statements. For this purpose, any statement that is not a statement of historical fact may be deemed to be a forward-looking statement. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties, and actual results could differ materially from historical results or those anticipated by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the impacts of the ongoing COVID-19 pandemic; changes in interest rates and general economic conditions; the legislative/regulatory climate; monetary and fiscal policies of the U.S. Government; the quality or composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market area; mergers, acquisitions and dispositions; implementation of new technologies and the ability to develop and maintain secure and reliable electronic systems; and tax and accounting rules, principles, policies and guidelines.

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SOURCE Touchstone Bankshares, Inc.

FAQ

Who is the new Director appointed at Touchstone Bankshares?

Toni Lee-Andrews has been appointed as the new Director of Touchstone Bankshares.

What experience does Toni Lee-Andrews bring to Touchstone Bankshares?

Toni Lee-Andrews has over 22 years of experience in accounting and is the President of Andrews CPA Associates.

When was Toni Lee-Andrews appointed to the Board of Directors?

Toni Lee-Andrews was appointed on September 22, 2022.

What are the expectations for Toni Lee-Andrews' role at Touchstone Bankshares?

Her financial expertise and community focus are expected to enhance the bank's strategic initiatives and support local growth.