JD Bancshares and JD Bank Announce Leadership Succession
JENNINGS, LA / ACCESSWIRE / September 10, 2024 / The Board of Directors of JD Bancshares, Inc. (OTCQX:JDVB) (the "Company") announced today that Paul E. Brummett, II has been appointed President of the Company, and Chief Executive Officer of JD …
JENNINGS, LA / ACCESSWIRE / September 10, 2024 / The Board of Directors of JD Bancshares, Inc. (OTCQX:JDVB) (the "Company") announced today that Paul E. Brummett, II has been appointed President of the Company, and Chief Executive Officer of JD Bank, the Company's banking subsidiary, effective October 1, 2024. Mr. Brummett will also join the Boards of Directors of the Company and JD Bank as of the same date. Mr. Brummett will succeed Bruce W. Elder, who has led the Company and JD Bank since 2019. Mr. Elder will remain with the Company and JD Bank in an advisory capacity through the end of the year to assist with the management succession.
In addition to Mr. Brummett's appointment, JD Bank has promoted Chief Banking Officer James A. "Jimmy" LeBlanc to the office of President/Chief Banking Officer. Controller and Investment Officer Jared Doucet has been promoted to Chief Financial Officer of the Company and JD Bank. Each of these appointments was made in a manner consistent with management succession plans previously adopted by the Board of Directors.
"The orderly succession of our leadership team is a critical responsibility of our Board of Directors," said Dan L. Donald, Jr., Chairman of the Board. "We have sought over time to develop a deep bench of key management positions to ensure continuity for the Company and JD Bank into the future. With his vast community banking experience, and lengthy tenure as a member of the JD Bank senior management team, Paul will oversee the strategic direction of the Bank as Chief Executive Officer, and Jimmy will continue to direct the Bank's day-to-day retail and commercial banking operations as President. We are also fortunate to have someone with Jared's finance and accounting background to step into the role of Chief Financial Officer.
Mr. Brummett has been in community banking for more than 32 years, all of which being with JD Bank, where he has served in a variety of executive officer capacities. He has more than 20 years of experience as Chief Financial Officer, led the Bank's branch operations for approximately 6 years and served for approximately 4 years as a credit analyst. A life-long resident of Southwest Louisiana, Mr. Brummett earned a Bachelor of Accounting and a Bachelor of Business Management, Marketing and Related Support from McNeese State University. He has also served for 20 years on the Board of Trustees for the Fred B. & Ruth B. Zigler Foundation, a non-profit organization based in Jennings, Louisiana which provides needs-based educational scholarships to area students.