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Touchmark Bancshares (OTC Pink: TMAK) announced key changes to its board of directors. Bradley Carroll has been appointed as Audit Committee Chairman, bringing over 30 years of experience in public accounting and internal audit. Todd Bailey has been named Asset Liability Committee Chairman, with more than 35 years of banking and financial services experience.
The company also announced the resignation of Byron Richardson as Lead Director to focus on his consulting business. Both new appointments will oversee critical aspects of the bank's operations, including financial reporting, internal controls, risk management, balance sheet strategy, and liquidity risk management.
Touchmark Bancshares (OTC Pink: TMAK) reported its Q1 2025 financial results, marking a transition period with significant leadership changes and strategic shifts. Net income decreased 48.4% to $733,000 compared to Q1 2024's $1.4 million. The company appointed Bobby Krimmel as the new President and CEO, succeeding Dr. J.J. Shah, and implemented a new strategy focusing on local market growth within 25 miles of their Alpharetta headquarters.
Key financial metrics showed net interest income declining 14.4% to $2.9 million, total loans decreasing by $16.3 million (4.3%), and efficiency ratio increasing to 59.22%. The bank strengthened its team by adding new bankers, including an SBA specialist, to boost loan portfolio growth. Asset quality improved with nonperforming assets decreasing from $13.4 million in Q1 2024 to $7.6 million, and net charge-offs declining to 0.60% from 4.74% in Q4 2024.
Touchmark Bancshares (TMAK) has appointed Robert E. ('Bobby') Krimmel as its new President, CEO, and director of Touchmark National Bank. Krimmel, who previously served as Chief Administrative Officer at First Farmers and Merchants Bank, succeeds Dr. J.J. Shah, who is retiring after seven years but will remain as Board Chairman.
During his tenure at First Farmers, Krimmel demonstrated strong performance metrics, including:
- Growing net income by 56%
- Maintaining 8% annual average core earnings per share growth
- Reducing operational efficiency by 5%
Krimmel brings extensive experience in banking operations, having managed key functions including accounting, treasury, IT, risk management, and regulatory compliance. He previously held senior positions at HeritageBank of the South and Green Bank. The new CEO aims to enhance the bank's presence in north Fulton County, focusing on small business banking in the Atlanta MSA region, which hosts over 600 technology companies.
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