Chattanooga-based FSG Bank replaces CEO

Chattanooga-based FSG Bank replaces CEO

Coffman succeeds Holley as head of Chattanooga's biggest independent bank

April 25th, 2011 in Local - Breaking News

The founder and chief executive of First Security Group, Inc. has been replaced.

FSG Bank, Chattanooga's biggest locally based bank, announced today that Ralph E. "Gene" Coffman, Jr., is replacing Rodger B. Holley as CEO. Holley, who helped start First Security and served as CEO for 11 years, resigned last week, according to a bank statement released today.

Coffman has served as FSG president and chief operating officer since 2010 and has more than 20 years of executive management experience in financial organizations, including serving in the CEO or President role at three different financial institutions. Prior to joining First Security, Coffman served as Ohio Regional President of WesBanco Bank, Inc., a $5.6 billion multi-bank holding company. Prior to WesBanco, Coffman served as President and Chief Executive Officer of Oak Hill Financial, Inc., an Ohio bank holding company that merged with WesBanco in 2007. Oak Hill Financial, Inc. was a $1.3 billion community bank with 37 banking offices.

"Gene has demonstrated strong leadership since joining First Security in 2010 as President and Chief Operating Officer," said Ralph Mathews, a member of the FSG Board of Directors. "His background and successful track record made him the ideal candidate during the Board's national search for that position, and his performance merits this appointment as acting interim CEO."

Holley served First Security as Chairman and CEO since its founding in 1999 and was one of the original shareholders.

"On behalf of the Board, I want to thank Rodger for his leadership and dedication to FSG," Mathews said. "He successfully achieved his vision to create a community bank along the interstate corridors of eastern Tennessee and north Georgia. We wish him well."

See tomorrow's Chattanooga Times Free Press for complete coverage.