Larry Mauldin, director and chairman of the board at Chattanooga-based FSGBank.First Security Group, holding company for Chattanooga-based FSGBank, announced Tuesday that it had appointed Larry Mauldin as director and chairman of the board.
Mauldin formerly served as chairman, president and CEO of SunTrust Bank of East Tennessee, retiring in 2007 after a 40-year banking career.
With his appointment, the $1.1 billion-asset bank has separated the roles of CEO and Chairman, which is more in line with industry best practices, said First Security CEO Michael Kramer.
“The addition of Larry supports a cornerstone belief of our new corporate culture,” Kramer said. “Accountability.”
Since the bank accepted federal loans through the Troubled Asset Relief Program (TARP) at the height of the recession, it has taken on an entirely new executive team and has significantly bolstered its board, officials said.