Mountain Commerce Bancorp Announces Leadership Changes

Rhea-AI Summary

Mountain Commerce Bancorp (OTCQX: MCBI) announced significant leadership changes across its executive team. Kevin W. Horne, the Bank's current chief credit officer and chief banking officer, has been appointed as president of the Bank, while William E. Edwards III continues as CEO.

The company also announced that CFO David Bright will depart on August 15, 2025, with Controller Wesley Lemon stepping in as interim CFO. Additionally, Marie Patterson was promoted to chief administrative officer, and Christie Wininger will replace retiring corporate secretary Regenia Ellis effective August 1, 2025.

Under the current leadership, the Bank has grown from $300 million to $1.8 billion in assets, with over $800 million in growth during Bright's five-year tenure.

Positive

• Bank has grown significantly from $300M to $1.8B in assets
• Internal succession planning demonstrates organizational stability
• New president Kevin Horne brings extensive experience since 2007
• Smooth transition period planned with retiring secretary staying through December 2025

Negative

• Departure of CFO David Bright could create temporary leadership gap
• Interim CFO arrangement indicates potential uncertainty in permanent succession

KNOXVILLE, Tenn., July 22, 2025 /PRNewswire/ -- Mountain Commerce Bancorp, Inc. (the "Company") (OTCQX: MCBI), the holding company for century-old Mountain Commerce Bank (the "Bank"), today announced various changes to its senior leadership group. Kevin W. Horne, the Bank's current chief credit officer and chief banking officer, has been appointed president of the Bank. Regarding Horne, who has been with the Bank since 2007, William E. Edwards, III, the Company's president and chief executive officer, commented, "Kevin has shown leadership and ability in each of his numerous roles since joining the Bank." "He has served as area president, chief operating officer, chief credit officer, and most recently as the Bank's chief banking officer." Horne, age 55, is a graduate of the University of Tennessee, Knoxville, the Stonier Graduate School of Banking, the Southeastern School of Commercial Lending and the Southeastern School of Advanced Commercial Lending. Earlier in his career, Horne served in management and leadership positions with BB&T's offices in Tennessee and West Virginia. Edwards will continue to serve as the Bank's chief executive officer.

The Company also announced that David Bright, the chief financial officer and chief administrative officer of the Company and the Bank, has announced that he intends to depart from the Company and the Bank effective August 15, 2025. Edwards stated, "David has been a valuable member of our team as we've grown the Bank's assets by over $ 800 million in the more than five years since he joined the Bank." "His experience and professionalism were critical in our successfully building out the accounting and finance control environment and infrastructure that has been an important element of our enhanced operating platform as we've crossed the $1.0 billion asset threshold. I wish David the best in his future endeavors."

Wesley Lemon, the Company's and the Bank's current controller, will serve as the Company's and the Bank's interim chief financial officer while the Company assesses the need to perform a search for a permanent replacement. Lemon holds both a bachelor's and a master's degree in accounting from the University of Tennessee, Knoxville. He worked for Forvis Mazars, LLP, before joining the Bank in 2021. Most recently, Lemon served as Controller for the Company and the Bank. Regarding Lemon, Edwards said, "Wesley has been a valuable member of our accounting and finance team since he joined the firm in 2021. He brought with him a public accounting background and excellent educational credentials. I'm excited to see him step into a more senior role as we look to the future."

Marie Patterson was named chief administrative officer of the Bank. Patterson has been with the Bank since 2006. She served as the chief financial officer of the Company and the Bank until March 2020, and also served as the chief financial officer of the legacy bank, Erwin National Bank, which the Company purchased in 2006. Patterson has served as director of accounting since 2020. She holds a Bachelor of Business Administration degree in Accounting from East Tennessee State University and is a certified public accountant. Edwards stated, "Marie has proven to be responsive to challenges with the utmost attention to detail and teamwork. She has over twenty years of banking experience at the senior level. Before joining the predecessor bank, she began her career as an auditor."

Also, the Company announced that Regenia Ellis announced her retirement effective August 1, 2025. Ellis has served as secretary for the Company and the Bank since 2009. Edwards stated, "Regenia has been a valued asset not only to the Company and the Bank, but to me personally, as we've partnered together as the firm has grown from $300 million in assets to $1.8 billion over her term of over fifteen years with the firm." "I'm excited for her and her family as she enters into a well-deserved retirement."

Christie Wininger, who was hired earlier in the year, will be replacing Ellis. Wininger comes to the Company with twenty-seven years of community bank experience. Her background includes retail, commercial and client services. Wininger is expected to be appointed corporate secretary effective August 1, 2025. Ellis will work through the transition of her responsibilities through December 2025.

"The Company's leadership changes are a result of proactive succession planning and bench strength," Edwards stated. "And positions the Company for future success and continuity."

About Mountain Commerce Bancorp, Inc. and Mountain Commerce Bank

Mountain Commerce Bancorp, Inc. is the holding company for Mountain Commerce Bank. The Company's shares of common stock trade on the OTCQX under the symbol "MCBI."

Mountain Commerce Bank is a state-chartered financial institution headquartered in Knoxville, TN. The bank traces its history back over a century and serves middle and east Tennessee through seven branches located in Brentwood, Erwin, Johnson City, Knoxville and Unicoi. The bank focuses on responsive relationship banking for small- and medium-sized businesses, professionals, relationship minded individuals, and those who value the personal service and attention that only a community bank can offer. For further information, please visit us at www.mcb.com.

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SOURCE Mountain Commerce Bancorp, Inc.

FAQ

Who is the new president of Mountain Commerce Bank (MCBI)?

Kevin W. Horne, the Bank's former chief credit officer and chief banking officer, has been appointed as president. He has been with the bank since 2007 and previously held positions including area president, chief operating officer, and chief credit officer.

Why is Mountain Commerce Bank's (MCBI) CFO David Bright leaving?

David Bright announced his intention to depart from the Company and Bank effective August 15, 2025. The specific reason for his departure was not disclosed in the announcement.

Who will replace MCBI's CFO David Bright?

Wesley Lemon, the Company's current controller, will serve as interim chief financial officer while the Company assesses the need to perform a search for a permanent replacement.

How much has Mountain Commerce Bank (MCBI) grown in recent years?

The Bank has experienced significant growth, expanding from $300 million to $1.8 billion in assets, with over $800 million in growth during the past five years.

When will Regenia Ellis retire from Mountain Commerce Bank (MCBI)?

Regenia Ellis will retire effective August 1, 2025, but will continue working through December 2025 to assist with the transition of her responsibilities to Christie Wininger.