Magna Bank - Directors Officers

Board of Directors

Kirk P. Bailey. Mr. Bailey, the Chairman, is a founding director who has served on the Board since the Bank’s inception in 1999. He is also the Bank’s president and chief executive officer. He has had an extensive banking career, serving as both the chief lending officer for Leader Federal Bank for Savings and then as President of Union Planters Bank in Memphis.

Ronald W. Stimpson. A founding director, Mr. Stimpson is Vice-Chairman of the Board of Directors of Magna. Since 1996, he has been the owner and Chief Manager of Leader Investments, LLC, a private mortgage lending and real estate investment company. Mr. Stimpson held numerous executive management positions with Leader Financial Corporation, including that of President and Chief Executive Officer from 1992 until 1996. In addition to his management experience, Mr. Stimpson is a certified public accountant with highly developed asset/liability management skills. Mr. Stimpson chairs the Bank’s Loan Policy and Oversight Committee.

J. Kevin Adams. Since 1999, Mr. Adams has been the Chief Executive Officer of CB Richard Ellis, one of the largest real estate management and investment firms in Memphis. In addition to his management expertise, he brings to the Board an extensive knowledge of real estate development activity and economic forecasting for future growth in Shelby County.

Edwin W. Barnett. Mr. Barnett is the majority owner of The Barnett Group LLC, an insurance and employee benefits consulting enterprise. He is also an independent agent representing AXA/Equitable and has been in the insurance industry since 1986. Mr. Barnett’s areas of expertise include employee benefits and human resources.

Dr. James H. Beaty. Dr. Beaty is an orthopaedic surgeon and was Chief of Staff at Campbell Clinic in Memphis, Tennessee from 2001 – 2010. Dr. Beaty brings a wealth of management experience to the Board and connects the Board to Memphis’ medical community, a key component of the Memphis economy and the focus of Magna’s private banking group. Dr. Beaty chairs the Bank’s Compensation Committee.

Harold E. Crye. A founding director, Mr. Crye has been the President of Crye-Leike, Inc., the largest real estate agency in Tennessee, for 33 years. Through Mr. Crye (as well as Mr. Leike), the Board has access to insight into real estate sales patterns, corporate relocation information and other intelligence that benefits our mortgage origination operations.

Thomas C. Farnsworth, III. Mr. Farnsworth is the President of Farnsworth Investment Company, with which he has been associated since 1988. He has been heavily involved in commercial real estate development and leasing and has an in-depth knowledge of matters pertaining to financing such projects. Mr. Farnsworth is the Chairman of the Loan Committee of the Board.

Dick Leike. A founding director, Mr. Leike is the Vice President of, and a producing agent for, Crye-Leike, Inc. He has been with Crye-Leike since 1976. With Mr. Crye, he co-owns a diversified group of real estate related companies. Mr. Leike brings first-hand knowledge of residential real estate, which is a strategic component of the Bank’s business, to the Board.

Rudi E. Scheidt, Jr. Mr. Scheidt has been a general partner of Commissum Capital Management, LLC, an investment management firm, since 2006. He has been involved in the securities industry since 1979, concluding his banking career as President of NBC Capital Markets, Inc., the brokerage subsidiary of SunTrust Bank in Memphis in 2006. He has extensive knowledge of complex derivative and structured securities and asset/liability management. Mr. Scheidt serves as Chairman of the Bank’s Asset/Liability Management Committee.

Arthur N. Seessel, III. Mr. Seessel is the retired president of Seessel’s supermarkets, a multi-store grocer. Mr. Seessel has prior public company board experience having served on the boards of both Leader Financial Corporation and Concord EFS. Mr. Seessel is the Chairman of the Bank’s Audit Committee.

Harry L. Smith. Mr. Smith is involved in real estate development and management in the growing communities east of Memphis, a strategic market for the Bank. In addition to Mr. Smith’s management background, he is also a certified public accountant with well developed financial analysis expertise.

Senior Officers

Holly F. Bronson . Ms. Harrison is the senior vice president and division head of Private Banking. She is an experienced private banker who previously managed the Private Banking/Medical portfolio at SunTrust, formerly NBC-Memphis.

Brent Chamberlain is a senior vice president and manages the secondary market department for the mortgage division. He has been with the bank since its inception and has 15 years experience in the secondary market industry.

Jim Cochran is senior vice president and manager of the commercial banking division for the bank. He assists medium to large size companies with their commercial lending and treasury management needs. This includes financing for working capital, owner-occupied real estate and change of ownership. Previously, he served as vice president of commercial lending with First Bank in Memphis following four years with Union Planters/Regions Bank.

Stephen W. Crocker. Mr. Crocker is senior vice president, managing the information technology and telecommunications areas. Mr. Crocker has an extensive technical and leadership background in the information technology field. Before joining Magna Bank, he served as a technical consultant, working in many industries, including finance, and for the federal government.

Anne B. Davenport. Ms. Davenport is a member of the Magna Bank management team that opened the bank in 1999. She is executive vice president, managing the bank's operations, human resources and shareholder relations divisions. Ms. Davenport is the assistant secretary to the board of directors. Her 25-year career in bank management has included working at Union Planters Bank, N.A. and at Leader Federal Bank for Savings.

Randy Engel. Mr. Engel serves as senior vice president of the commercial and multifamily real estate lending and mortgage banking division and is responsible for new loan production and investor relations. He is an experienced mortgage banker.

Lisa Foley. Ms. Foley is the executive vice president and retail banking division manager. Previously, she worked as the Memphis-area sales and marketing manager at SunTrust and was responsible for NBC-Memphis' retail branch network. Currently, she manages existing Magna Bank retail branches and expansion plans for new locations.

Dianne Payne is a senior vice president and regional production manager responsible for mortgage originations in Middle Tennessee. Previously, she was regional production manager for GMAC. She has over 30 years experience in mortgage originations.

Lisa W. Reid. Ms. Reid is executive vice president and the mortgage division manager. Previously, Ms. Reid served for 20 years as the regional mortgage production manager for Leader Federal Bank for Savings. She also served as president of the Memphis Mortgage Bankers and president of the Tennessee Mortgage Bankers Association.

Jeanine B. Saylor. Ms. Saylor is a senior vice president and manager of mortgage division operations. She also serves as CRA officer. She has over 30 years experience in mortgage banking operations with federally insured institutions, including Union Planters Bank and Leader Federal Bank for Savings.

Ted Simpson is executive vice president and chief lending officer for the bank. Previously, Mr. Simpson worked at Magna Bank starting in July 2001, in which he served as executive vice president and chief lending officer from August of 2005 until May 30, 2008 at which time he joined First Bank in Memphis, TN as the city President and served in this position until rejoining Magna on July 29, 2009.

B. Frank Stallworth. Mr. Stallworth is executive vice president, responsible for commercial and multifamily real estate lending and mortgage banking division. Previously, he served as president of the western division of Central Park Capital, a nationwide commercial real estate lender.

Nick Sutton. Mr. Sutton is senior vice president and manager of residential construction lending. He assists individual customers and builders with construction and land development loans, which he did for SunTrust and NBC banks.

David C. Wadlington. Mr. Wadlington is executive vice president, responsible for finance and operations of Magna. Previously, he was senior vice president of Union Planters Corporation, co-manager and chief financial officer of Security Check, LLC, and chief financial officer at Leader Federal Bank for Savings and Leader Financial Corporation.