Touchstone Bank Names Adam Sothen Executive Vice President and Chief Financial Officer

Rhea-AI Summary

Touchstone Bankshares, Inc. (TSBA) appoints Adam Sothen as Executive Vice President and Chief Financial Officer, bringing 25 years of experience in the financial and banking industry. Sothen's previous roles include serving as CFO for a $1.5 billion multi-bank holding company in Maryland and other community banks in Virginia. Touchstone Bank President and CEO James Black expresses excitement for Sothen's leadership and experience, anticipating further progress for the organization.

PRINCE GEORGE, Va., Jan. 5, 2024 /PRNewswire/ -- Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA) and its wholly owned subsidiary Touchstone Bank (the "Bank"), today announced the appointment of Adam Sothen as Executive Vice President and Chief Financial Officer.

Mr. Sothen has worked in the financial and banking industry for 25 years with most of that time serving in a leadership role and as Chief Financial Officer. Prior to joining Touchstone, Adam was Executive Vice President and Chief Financial Officer of a $1.5 billion multi-bank holding company in Maryland and has served as Chief Financial Officer for other community banks in Virginia. Adam is a resident of Chesterfield County, Virginia and is familiar with the Touchstone Bank footprint.

Touchstone Bank President and CEO James Black said, "We are extremely pleased to have Adam join the company. He is well-respected and provides the leadership and experience that fits well with our culture. Adam possesses the ability to help our organization progress further as Chief Financial Officer and as a strong executive leader."

About Touchstone Bankshares, Inc.

Touchstone Bankshares, Inc. is the bank holding company for Touchstone Bank. Touchstone, through the bank and affiliates, provides a wide range of financial services including retail and commercial banking, insurance, credit cards, and secondary market mortgage lending. Visit www.touchstone.bank for more information.

Forward-Looking Statements

In addition to historical information, this press release may contain certain forward-looking statements. 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 Executive Vice President and Chief Financial Officer of Touchstone Bankshares, Inc. (TSBA)?

Adam Sothen has been appointed as the new Executive Vice President and Chief Financial Officer of Touchstone Bankshares, Inc. (TSBA).

What is the ticker symbol for Touchstone Bankshares, Inc.?

The ticker symbol for Touchstone Bankshares, Inc. is TSBA.

What is Adam Sothen's previous experience in the financial and banking industry?

Adam Sothen has 25 years of experience in the financial and banking industry, including serving as the Chief Financial Officer for a $1.5 billion multi-bank holding company in Maryland and other community banks in Virginia.

Where is Adam Sothen a resident of?

Adam Sothen is a resident of Chesterfield County, Virginia.

Who expressed excitement for Adam Sothen's appointment?

Touchstone Bank President and CEO James Black expressed excitement for Adam Sothen's leadership and experience, anticipating further progress for the organization.