TOUCHMARK BANCSHARES, INC. ANNOUNCES EXECUTIVE PROMOTION

Rhea-AI Summary

Touchmark Bancshares (OTCID: TMAK) announced the promotion of Steve Schaefer to Executive Vice President and Chief Credit Officer of Touchmark National Bank, effective immediately. Schaefer joined as Senior Credit Officer in August 2025 and will continue to lead credit administration.

According to the company, Schaefer resolved credit administration issues tied to a Formal Agreement with the OCC, leading to the Formal Agreement termination on February 17, 2026, after roughly three months of remediation.

Positive

• Schaefer promoted to Executive Vice President and Chief Credit Officer
• Formal Agreement terminated on February 17, 2026 after remediation
• Credit administration issues resolved within approximately three months

Negative

• OCC Formal Agreement had identified ongoing credit monitoring issues
• Prior problem loan management required formal regulatory remediation

ALPHARETTA, Ga., March 2, 2026 /PRNewswire/ -- Touchmark Bancshares, Inc. (OTCID: TMAK), the holding company for Touchmark National Bank, today announced an executive leadership promotion for Steve Schaefer who joined Touchmark National Bank as Senior Credit Officer in August 2025. Schaefer was promoted to Executive Vice President and Chief Credit Officer of Touchmark National Bank effective immediately and will continue to oversee the credit administration responsibilities for Touchmark.

Bobby Krimmel, President and Chief Executive Officer of Touchmark National Bank, commented, "The promotion of Steve Schaefer to Chief Credit Officer recognizes his exceptional dedication and leadership in resolving the regulatory concerns related to ongoing credit monitoring and problem loan management identified in the Bank's Formal Agreement with the OCC. Within three months, Schaefer successfully addressed all credit administration issues as evidenced by the Formal Agreement termination on February 17, 2026, demonstrating the strategic leadership necessary to advance Touchmark's vision of becoming the premier bank for small and medium-sized businesses."

About Touchmark Bancshares, Inc., and Touchmark National Bank

Touchmark Bancshares, Inc. is the holding company for Touchmark National Bank, a community bank founded in 2008 and headquartered in Alpharetta, Georgia, serving Cherokee, Cobb, Dekalb, Forsyth, Gwinnett, and North Fulton counties. As of December 31, 2025, Touchmark reported total assets of $418 million and total shareholders' equity of $71 million. For more information about Touchmark, visit us at www.touchmarknb.com under Investor Relations.

View original content to download multimedia:https://www.prnewswire.com/news-releases/touchmark-bancshares-inc-announces-executive-promotion-302699937.html

SOURCE Touchmark Bancshares, Inc.

FAQ

What executive change did Touchmark Bancshares (TMAK) announce on March 2, 2026?

They promoted Steve Schaefer to Executive Vice President and Chief Credit Officer, effective immediately. According to the company, Schaefer joined as Senior Credit Officer in August 2025 and will continue overseeing credit administration for Touchmark National Bank.

When was the OCC Formal Agreement with Touchmark terminated and why does that matter for TMAK?

The Formal Agreement was terminated on February 17, 2026, marking formal closure of remediation. According to the company, termination followed resolution of credit administration and problem loan management issues identified under the Agreement.

How quickly did Touchmark resolve the credit administration issues before promoting Steve Schaefer (TMAK)?

Touchmark resolved the credit administration issues within approximately three months, according to the company. Management cites that Schaefer led efforts to address ongoing credit monitoring and problem loan management identified by the OCC.

What responsibilities will Steve Schaefer hold as Chief Credit Officer at Touchmark (TMAK)?

Schaefer will serve as Executive Vice President and Chief Credit Officer and continue overseeing credit administration. According to the company, he will maintain responsibility for credit monitoring and problem loan management at the bank.

Does the promotion of Steve Schaefer signal changes in Touchmark's regulatory posture for investors in TMAK?

The promotion highlights management's emphasis on credit controls and regulatory compliance, according to the company. It follows Formal Agreement termination, suggesting remediation actions were completed and oversight matters were closed.