William “Bud” Foshee, CFO of ServisFirst Bank, will retire in February. The bank appointed Kirk Pressley as Foshee’s successor.
“Bud has guided us through our formation and initial stock sale of $35 million to our current standing as a $16 billion company with an unprecedented record of financial success over the past 19 years. ServisFirst is recognized as one of the premier banks in the Southeast and Bud’s record as CFO is unparalleled,” Tom Broughton, Chairman, president and CEO of ServisFirst Bank, said. “Our industry-leading efficiency ratio is something Bud has strongly influenced with his relentless effort to reduce expenses. Bud’s integrity has been unflinching, and he has provided a strong foundation for our future.”
Following Foshee’s retirement, Edison Woodie, senior vice president and controller at ServisFirst Bank, and Davis Mange, senior vice president of accounting andd investor relations at ServisFirst Bank, will continue to be part of the finance team. In addition, Mark Tarnakow recently joined the bank’s finance team as vice president and strategic projects director for finance and accounting.
“It has been an honor to lead ServisFirst from formation to an industry leader, and it is always rewarding to be part of a leadership team of a great company,” Foshee said.
Pressley joined ServisFirst in July and is the former CFO of BBVA Compass. Pressley has spent his 35-year career in the Birmingham, AB, and Houston. Pressley started his career as an external auditor focused on financial institutions for two international public accounting firms.
“We anticipate a seamless transition from Bud to Kirk, given Kirk’s extensive experience in larger organizations. In addition, Kirk has worked with a number of ServisFirst officers, which makes this a bit of homecoming as well,” Broughton said. “We will continue to operate as a community bank with the capabilities of our regional bank competitors, and we feel confident Kirk will help us continue to achieve these goals.”
