Oakworth Capital Inc. Announces Addition of Carothers to Board of Directors

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Oakworth Capital (OTCQX: OAKC) appointed W. Russell “Russ” Carothers III to its board of directors, effective July 15, 2026. Carothers, who spent 37 years at EY in the financial services audit practice with a specialization in banking and capital markets, will serve as a financial expert and chair Oakworth’s audit committee. According to Oakworth’s Chairman and CEO Scott Reed, Carothers’ nearly 40 years of finance, IT, and operational leadership experience is expected to support the company’s mission to redefine financial services and help clients achieve their financial objectives.

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BIRMINGHAM, Ala., July 15, 2026 /PRNewswire/ -- Oakworth Capital Inc. (OTCQX: OAKC) announced that W. Russell "Russ" Carothers III was appointed to its board of directors, effective today, July 15, 2026.

Oakworth's Chairman and CEO Scott Reed stated, "Russ' depth of knowledge and experience across all facets of the financial services industry will be an asset to our board and to our company. We look forward to his insight and direction as we continue our mission to 'Redefine Financial Services' by making our clients' financial lives easier and helping them achieve their objectives." 

Carothers brings nearly 40 years of finance, information technology and operational leadership experience, having served 37 years at EY in the financial services audit practice with a specialization in banking and capital markets.

Carothers has served clients across the financial services spectrum from community banks to multinational financial services corporations to global exchanges. Carothers will serve as a financial expert and chair Oakworth's audit committee.

About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.

Oakworth has been ranked among American Banker's "Best Banks to Work For in the U.S." for the past nine years, holding the top spot for six of those years and ranking No. 2 most recently. Additionally, Oakworth's 2025 average Net Promoter Score (NPS) was 95 with a commensurate client retention rate of 95%. As of March 31, 2026, Oakworth had $2.0 billion in total assets, $1.7 billion in gross loans, $1.8 billion in deposits and $2.7 billion in wealth and trust assets under management. For more information, visit www.oakworth.com. 

Advisory services, including investment management and financial planning, are offered through Oakworth Asset Management LLC, a registered investment advisor that is owned by Oakworth Capital Bank, Member FDIC, Equal Housing Lender. Investment products and services offered via Oakworth Asset Management LLC are independent of the products and services offered by Oakworth Capital Bank, and are not FDIC insured, may lose value, have no bank guarantee and are not insured by any federal or state government agency. Because Oakworth Asset Management LLC is owned by Oakworth Capital Bank and because associates of either entity may provide financial advice to our clients, there exists a conflict of interest to the extent that either party recommends the services of the other. Oakworth Asset Management LLC does not provide tax or legal advice. You should consult your tax advisor, accountant and/or attorney before making any decisions with tax or legal implications. Additional information about Oakworth Asset Management LLC, including its services and fees, may be obtained from adviserinfo.sec.gov or by contacting Oakworth Asset Management directly.

For more information contact:
Jenifer Kimbrough
Phone: 205-263-4704
Email: jenifer.kimbrough@oakworth.com

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SOURCE Oakworth Capital Inc.

FAQ

What board change did Oakworth Capital (OAKC) announce on July 15, 2026?

Oakworth Capital announced the appointment of W. Russell “Russ” Carothers III to its board of directors, effective July 15, 2026. According to Oakworth Capital, he will also serve as a financial expert and chair the company’s audit committee.

Who is W. Russell "Russ" Carothers III appointed to the Oakworth Capital (OAKC) board?

W. Russell “Russ” Carothers III is a finance and audit professional with nearly 40 years’ experience. According to Oakworth Capital, he spent 37 years at EY in the financial services audit practice, specializing in banking and capital markets clients.

What role will Russ Carothers have on Oakworth Capital’s (OAKC) board?

Russ Carothers will serve as a financial expert and chair Oakworth Capital’s audit committee. According to Oakworth Capital, his background in finance, information technology, and operations is expected to support oversight of financial reporting and related governance functions.

What experience does Russ Carothers bring to Oakworth Capital (OAKC)?

Russ Carothers brings nearly 40 years of finance, IT, and operational leadership experience. According to Oakworth Capital, he worked 37 years at EY serving financial services clients from community banks to multinational corporations and global exchanges.

Why did Oakworth Capital (OAKC) add Russ Carothers to its board?

Oakworth Capital added Russ Carothers for his depth of financial services knowledge and leadership experience. According to Oakworth Capital, management expects his insight to support the mission of redefining financial services and helping clients achieve their financial objectives.