JD Bancshares and JD Bank Announce Leadership Succession
Rhea-AI Summary
JD Bancshares, Inc. (OTCQX:JDVB) announced key leadership changes effective October 1, 2024. Paul E. Brummett, II will become President of the Company and CEO of JD Bank, succeeding Bruce W. Elder. James A. "Jimmy" LeBlanc has been promoted to President/Chief Banking Officer of JD Bank, while Jared Doucet will assume the role of CFO for both the Company and JD Bank.
These appointments align with the Board's succession plans. Brummett brings 32 years of community banking experience, all with JD Bank. LeBlanc has 34 years in banking, focusing on commercial lending. Doucet, a CPA, has 23 years of accounting and investments experience.
JD Bank, founded in 1947, operates 22 full-service branches and two loan and deposit production offices across south Louisiana, offering personal and commercial banking services.
Positive
- Orderly leadership succession plan implemented, ensuring continuity
- New leadership team has extensive experience within JD Bank and the community banking sector
- Promotion of internal candidates demonstrates strong talent development
- Broad geographical presence with 22 full-service branches and 2 loan/deposit production offices
Negative
- None.
News Market Reaction
On the day this news was published, JDVB gained 5.41%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
JENNINGS, LA / ACCESSWIRE / September 10, 2024 / The Board of Directors of JD Bancshares, Inc. (OTCQX:JDVB) (the "Company") announced today that Paul E. Brummett, II has been appointed President of the Company, and Chief Executive Officer of JD Bank, the Company's banking subsidiary, effective October 1, 2024. Mr. Brummett will also join the Boards of Directors of the Company and JD Bank as of the same date. Mr. Brummett will succeed Bruce W. Elder, who has led the Company and JD Bank since 2019. Mr. Elder will remain with the Company and JD Bank in an advisory capacity through the end of the year to assist with the management succession.
In addition to Mr. Brummett's appointment, JD Bank has promoted Chief Banking Officer James A. "Jimmy" LeBlanc to the office of President/Chief Banking Officer. Controller and Investment Officer Jared Doucet has been promoted to Chief Financial Officer of the Company and JD Bank. Each of these appointments was made in a manner consistent with management succession plans previously adopted by the Board of Directors.
"The orderly succession of our leadership team is a critical responsibility of our Board of Directors," said Dan L. Donald, Jr., Chairman of the Board. "We have sought over time to develop a deep bench of key management positions to ensure continuity for the Company and JD Bank into the future. With his vast community banking experience, and lengthy tenure as a member of the JD Bank senior management team, Paul will oversee the strategic direction of the Bank as Chief Executive Officer, and Jimmy will continue to direct the Bank's day-to-day retail and commercial banking operations as President. We are also fortunate to have someone with Jared's finance and accounting background to step into the role of Chief Financial Officer.
Mr. Brummett has been in community banking for more than 32 years, all of which being with JD Bank, where he has served in a variety of executive officer capacities. He has more than 20 years of experience as Chief Financial Officer, led the Bank's branch operations for approximately 6 years and served for approximately 4 years as a credit analyst. A life-long resident of Southwest Louisiana, Mr. Brummett earned a Bachelor of Accounting and a Bachelor of Business Management, Marketing and Related Support from McNeese State University. He has also served for 20 years on the Board of Trustees for the Fred B. & Ruth B. Zigler Foundation, a non-profit organization based in Jennings, Louisiana which provides needs-based educational scholarships to area students.
Mr. LeBlanc has 34 years of banking experience, with a focus on commercial lending in the Bank's markets. He began his banking career with American Security Bank in Ville Platte, Louisiana, before joining Guaranty Bank where he served on the Board of Directors and oversaw its Ville Platte operations. Mr. LeBlanc joined JD Bank upon its acquisition of Guaranty Bank in 2012, where he continued his career as Senior Vice President and Regional Manager for the Bank's Northeast Market. Mr. LeBlanc was promoted to Chief Commercial Banking Officer in 2021, before becoming Chief Banking Officer in May 2024, a role that he will maintain as President of the Bank. In his capacity as President, Mr. LeBlanc will be responsible for all commercial and retail aspects of the bank. Mr. LeBlanc is a 1985 graduate of Louisiana State University, where he earned his Bachelor of Arts degree, and a 1997 graduate of the LSU Graduate School of Banking. He is actively engaged in his community as a member of the Ville Platte Rotary Club, where he has served as past president and is a Paul Harris Fellow; the Evangeline Parish Chamber of Commerce; and the Sacred Heart Foundation.
Mr. Doucet has 23 years of accounting and investments experience, approximately 14 of which have been with community banks. He has served as JD Bank's Controller and Investment Officer for approximately 9 years. Mr. Doucet is a certified public accountant and holds a Bachelor of Accounting and Master of Business Administration from the University of Louisiana at Lafayette.
"I have spent most of my professional career working for community banks and the opportunity to lead the team at JD Bank, together with Jimmy is exciting," said Paul E. Brummett, II. "We look forward to helping Louisiana's Community Bank to grow profitably and efficiently building upon Bruce's work while continuing to honor the community bank values upon which JD Bank was founded." Jimmy LeBlanc added, "We appreciate the trust that the Board of Directors has placed in us. We have a proven track record of working together as a team and in alignment with the Board's vision for the bank's future."
About JD Bancshares, Inc.
JD Bancshares, Inc. is the bank holding company of JD Bank, a Louisiana state-chartered bank headquartered in Jennings, Louisiana. JD Bank has been serving the citizens of south Louisiana since 1947 and offers a variety of personal and commercial lending and deposit products through both physical and digital delivery channels. The Bank also offers both trust and investment services. JD Bank operates through 22 full-service branch offices and two loan and deposit production offices located along the I-10 and I-12 corridors from Lake Charles to Mandeville, Louisiana. Additional information is available on its website at jdbank.com.
JD Bancshares, Inc. (OTCQX: JDVB) trades on the OTCQX Best Market. Companies on the OTCQX Best Market meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosure and real-time level 2 quotes for the Company on otcmarkets.com.
Contact:
Dan Donald (Chairman) 337-246-5410
Paul Brummett (CFO) 337-246-5395
Website: www.jdbank.com
SOURCE: JD Bancshares, Inc.
View the original press release on accesswire.com
FAQ
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