Converse, Indiana -
First Farmers Financial Corp. (OTCQX: FFMR), the parent company of First Farmers Bank & Trust, today announced the next steps in their leadership succession plan, approving the appointment of Mark A. Holt as President of First Farmers Bank & Trust and as a Director of both First Farmers Financial Corp. and First Farmers Bank & Trust. These appointments are effective September 1, 2019. This transition plan was originally announced in October 2018, as Gene E. Miles, current President and CEO, expressed his intent to reduce his daily workload after 40 years with the First Farmers organization.
Mr. Miles will remain the President and Chief Executive Officer of First Farmers Financial Corp., the Chief Executive Officer of First Farmers Bank & Trust, and a Director of both. Mr. Miles has over 40 years of service with the First Farmers organization and has not announced a specific retirement date. First Farmers Financial Corp. Board Chairman, Brian Renbarger, stated “Gene has done a tremendous job creating value for our shareholders, customers, employees and communities during his 40 years with the organization. We’re pleased he will continue to serve this organization as the Chief Executive Officer and as a Director. This allows us to continue to utilize his wisdom and base of knowledge as he serves as a leader in the community and industry.”
Mark Holt has served as an Executive Vice President of the Bank since 2015 and served on the Board of Directors of the Bank and the Company from 1997 to 2015. Holt is also a Doctor of Veterinary Medicine, and a member of national, state, and local veterinary associations, a member of Purdue President’s Council, a former member of the Grant County Purdue Extension Board of Directors and is actively involved in local community and church.
Dr. Holt added, “It’s an honor to be asked to carry on the culture and history of the bank. Together with the rest of the management team and the Board of Directors, I look forward to continuing the bank on the path by which Gene has led this organization and continuing to create long term value for our shareholders, our customers, and our communities.”