Independence Bank announces strategic leadership advancements within the company in order to build upon future of the Bank.
In a statement provided by Chris Reid, “Today is a new day for the future of Independence Bank. It’s a time for celebration in our company’s history as we continue to lay the groundwork for the vision that led us to where we are today.”
For the past three decades, Reid who has been serving in the role of Chairman and CEO for the Bank, announced several key promotions within the organization.
Those announcements include:
Jacob Reid, named CEO & President, Independence Bank Holding Company
Greg Mullican, named CEO, Independence Bank
Phil Riney, named President, Independence Bank, Chief Risk Officer
Tawna Wright, named Executive Vice President, Chief Operations Officer
Tom McFarland, named Chief Lending Officer
“This is the next right, natural step,” said Reid. “These individuals have served alongside of me and are extremely capable and qualified. They have all been integral to our success and will continue to take this Bank forward.”
Reid will still remain Chairman of the Bank’s holding company, Independence Bancshares as well as Chairman of the Independence Bank Board. He stated that he’s ready to enjoy life to the fullest and spend more time doing the things his father had hoped to do before he retired, but never got the chance to.
“My dad was right about a lot of things, but some lessons I took from him, had to be learned by observing. I watched him work hard his whole life. Right before he turned 65, he found out that he had incurable cancer that would eventually take his life. He never got the opportunity to travel and enjoy what he had worked so hard for.
My father-in-law took an early retirement at 63 and just six months after, died of a heart attack.
Two men that I admired greatly, spent the majority of their lives working and anticipating the day they would get to enjoy life, spend more time with their family and do the things they’ve always wanted to do. The time has come for me to stop waiting and start living. In order for me to do that, it’s time for the next generation of leadership to rise and lead this Bank with the skill, vision and excellence that I know they are capable of.”
Chris, along with his wife Janet, their son Jacob and his wife Bridget Reid, along with the Reid Group will retain majority ownership in the Bank and said that someday they envision a time when the Bank’s ESOP becomes the majority owner. “How wonderful would it be to leave something like this to the people who helped make it what it is,” stated Reid.
“I’ve been a part of Independence Bank since before I was even born. As a toddler the night deposit vault was my playpen and I have been working here ever since I was old enough to apply. This Bank has been and continues to be a big part of my life. I know that in order for it to continue, we must lay the groundwork for tomorrow,” said Jacob Reid. “Preparation began years ago and we will continue to build upon that foundation for employees to be majority owner. This is something that I plan to continue to work towards in my new role alongside with our family and Management Team. Our message of Here For Good, isn’t just a marketing slogan. It is the heart of who we are.”
“I’ve had the privilege to work alongside of the Reid family and the leaders of the Bank for the past 22 years. I have watched the way they value their employees, their customers and those they serve. How their core values and business practices don’t sway with what’s happening around them. While I feel that my knowledge and expertise have brought me this far, I’m ready to model what this family and this Bank has taught me during my time here and continue the success that keeps this Bank moving forward,” said Greg Mullican.
“Executive Management has been working for quite some time to ensure a great succession plan for the future of this Bank. Today, we are putting that plan into action,” said Phil Riney. “I am looking forward to working closely with our markets and employees as we continue to meet future goals and objectives.”
“This is a time of celebration,” announced Chris Reid. “This is a time to toast to the future of this great Bank and the people that have brought it this far. The story is not over; this is just the next chapter.”
Independence Bank is a regional community bank with 27 locations in Calloway, Daviess, Fayette, Franklin, Graves, Hancock, Henderson, Hopkins, Jefferson, Logan, McCracken, McLean, Shelby, Warren and Webster counties. One of the fastest growing banks in Kentucky and fifth largest, Independence Bank possesses the size and experience to serve the largest and most complex clients and offers Trust and Investment Services and agricultural services. As a banking revolution for the people, by the people, central to Independence Bank’s mission is doing what is right and fair for customers, communities and employees. Independence Bank has been recognized in multiple categories by the American Bankers Association, including being named a Top Performing Bank and Best Bank to Work For, for 14 consecutive years, a Best Place to Work in Kentucky for 15 years and has assets totaling $3.6 billion.