Allan Funk Named EVP, Chief Credit Officer at Touchstone Bank

Rhea-AI Summary

Touchstone Bankshares, Inc. (OTC Pink: TSBA) announced that Allan Funk has been appointed as EVP, Chief Credit Officer. Funk has over 37 years of experience, previously serving as Senior Credit Officer at First Community Bank of South Carolina, which holds $1.5 billion in assets. His appointment aligns with the bank's strategic goals, emphasizing community banking values. Touchstone Bank operates in Virginia and North Carolina, offering full-service banking through multiple branches.

Positive

• Allan Funk brings 37 years of banking experience to the role.
• His leadership aligns with the bank's strategic goals and community culture.

Negative

• None.

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PRINCE GEORGE, Va., Sept. 24, 2021 /PRNewswire/ -- Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA) and its wholly-owned subsidiary, Touchstone Bank (the "Bank"), are pleased to announce that Mr. Allan Funk will serve as EVP, Chief Credit Officer. Mr. Funk has over 37 years of banking experience, most recently as Senior Credit Officer with $1.5 billion asset based First Community Bank of South Carolina. Prior to that Mr. Funk was with Skyline National Bank and BB&T, in Virginia. He holds an undergraduate degree from Campbell University, an MBA from Wake Forest University Babcock Graduate School of Management and is a graduate of the ABA National Graduate Trust School at Northwestern University.  

"We are delighted to have such a talented and experienced leader join the Touchstone team. Allan brings exceptional leadership and experience that aligns extremely well with our strategic goals and community bank culture, said James Black, President & CEO. Black.

Allan Funk commented, "throughout my career, I've seen the importance and value of community banking done really well, and I am very honored to join Touchstone which has an outstanding reputation for being a local banking leader." 

About Touchstone Bankshares, Inc.

Touchstone Bankshares, Inc. is the bank holding company for Touchstone Bank. The formation of Touchstone Bankshares, Inc. was finalized on July 1, 2020 with a one-for-one share exchange of Touchstone Bank preferred and common shares with Touchstone Bankshares, Inc. preferred and common shares, respectively Touchstone Bank is a full-service community bank headquartered in Prince George, Virginia. The Bank has eleven branches serving Southern and Central Virginia and two branches and a loan center serving Northern North Carolina. Visit www.touchstone.bank for more information.

Forward-Looking Statements

In addition to historical information, this press release may contain certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. For this purpose, any statement that is not a statement of historical fact may be deemed to be a forward-looking statement. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, and actual results could differ materially from historical results or those anticipated by such statements.  Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the impacts of the ongoing COVID-19 pandemic; changes in interest rates and general economic conditions; the legislative/regulatory climate; monetary and fiscal policies of the U.S. Government; the quality or composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market area; mergers, acquisitions and dispositions; implementation of new technologies and the ability to develop and maintain secure and reliable electronic systems; and tax and accounting rules, principles, policies and guidelines.

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SOURCE Touchstone Bankshares, Inc.

FAQ

Who is the new Chief Credit Officer at Touchstone Bankshares?

Allan Funk has been appointed as EVP, Chief Credit Officer.

What experience does Allan Funk have in banking?

Allan Funk has over 37 years of banking experience, including a role at First Community Bank of South Carolina.

What is the stock symbol for Touchstone Bankshares?

The stock symbol for Touchstone Bankshares is TSBA.

How does Allan Funk's appointment impact Touchstone Bankshares?

Funk's appointment is expected to enhance the bank's leadership and align with its strategic community-focused goals.

Where is Touchstone Bank headquartered?

Touchstone Bank is headquartered in Prince George, Virginia.