Taylor Bank Announces President and Chief Executive Officer Retirement and Succession Plan

Rhea-AI Summary

Calvin B. Taylor Bankshares, Inc. announced the retirement of President and CEO Raymond M. Thompson, effective December 31, 2024, after 27 years of service. M. Dean Lewis, the current Executive Vice President and CFO, will succeed Mr. Thompson, effective January 1, 2025. Mr. Lewis has a strong financial background and has been with the company since 2012. The Board of Directors expressed gratitude to Mr. Thompson and looks forward to a successful leadership transition in 2024.

BERLIN, MD / ACCESSWIRE / January 29, 2024 / Calvin B. Taylor Bankshares, Inc. (the "Company") (OTCQX:TYCB), parent company of Calvin B. Taylor Bank (the "Bank") announced that Raymond M. Thompson, President and Chief Executive Officer, will retire from the Company and the Bank effective December 31, 2024. Mr. Thompson's retirement comes at the end of 27 years of service, during which he served 22 years as President, and 18 years as Chief Executive Officer.

Upon Mr. Thompson's retirement, and effective January 1, 2025, the Board of Directors has selected M. Dean Lewis, Executive Vice President and Chief Financial Officer to succeed Mr. Thompson. Mr. Lewis, age 43, joined Taylor Bank in January 2012. He came to Taylor Bank with 10 years of accounting experience, the majority of which was spent with PricewaterhouseCoopers, LLP in Baltimore, MD, where he served as Tax Director. His diverse financial background includes experience in accounting, tax compliance and planning, financial statement audits, banking, SEC reporting, and internal controls.

After joining Taylor Bank, Mr. Lewis was appointed Chief Financial Officer of the Bank and Treasurer of the Company in May 2013 and was elected to the Board of Directors in May 2014. He was promoted to Vice President in 2015, Senior Vice President in 2021, and Executive Vice President in 2023.

Mr. Lewis is a native of Berlin, Maryland. He graduated from Stephen Decatur High School in 1998, and attended the University of Maryland where he received a B.S. degree in Accounting in May 2002. He received an M.S. degree in Taxation from American University in August 2008. Mr. Lewis returned to the Eastern Shore in October 2010 and currently resides in Berlin with his wife and three children.

Thomas K. Coates, Chair of the Board of Directors remarked, "We thank President Thompson for his 27 years of outstanding service to the stockholders, employees and customers of Taylor Bank, and we congratulate Mr. Lewis on becoming the 8^th President and Chief Executive Officer of Taylor Bank in its 134 year history. We look forward to a successful leadership transition during 2024."

###

About Calvin B. Taylor Banking Company
Calvin B. Taylor Banking Company, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. The Company has 11 banking locations within the eastern coastal area of the Delmarva Peninsula including Worcester County, Maryland, Sussex County, Delaware and Accomack County, Virginia.

Contact
Raymond M. Thompson, President and Chief Executive Officer
410-641-1700, taylorbank.com

SOURCE: Calvin B. Taylor Bankshares, Inc.

View the original press release on accesswire.com

FAQ

When will President and CEO Raymond M. Thompson retire?

Raymond M. Thompson will retire from Calvin B. Taylor Bankshares, Inc. and the Bank effective December 31, 2024.

Who will succeed Mr. Thompson as President and CEO?

M. Dean Lewis, the current Executive Vice President and CFO, will succeed Mr. Thompson, effective January 1, 2025.

How long has Mr. Thompson served as President and CEO?

Mr. Thompson served 22 years as President and 18 years as Chief Executive Officer.

What is Mr. Lewis's background and experience?

Mr. Lewis has a diverse financial background including experience in accounting, tax compliance and planning, financial statement audits, banking, SEC reporting, and internal controls. He joined Taylor Bank in 2012 and has been with the company since then.

What are Mr. Lewis's qualifications?

Mr. Lewis graduated from the University of Maryland with a B.S. degree in Accounting in May 2002 and received an M.S. degree in Taxation from American University in August 2008. He has been promoted within the company and currently holds the position of Executive Vice President.

Who expressed gratitude to Mr. Thompson and welcomed Mr. Lewis as the new President and CEO?

Thomas K. Coates, Chair of the Board of Directors, expressed gratitude to President Thompson for his 27 years of service and congratulated Mr. Lewis on becoming the 8th President and Chief Executive Officer of Taylor Bank in its 134-year history.