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Adam Mitchell Resigns From Citizens Bank, Jeff Teague Assumes CEO Job

2 min read

Adam Mitchell confirmed Tuesday his resignation as chief executive officer of Citizens Bank of Batesville, and the bank announced that Chairman Jeff Teague would replace him as CEO.

Chief Lending Officer Vernon Scott has also been given the additional title of president.

“It is an honor to lead Citizens Bank in this new capacity,” Teague said in a press release. “I am confident in this leadership team and their ability to continue the bank’s trajectory of performance and service.”

Mitchell told Arkansas Business, “I resigned last week, and I made a good decision for myself and my family and am ready to move on to the future.” As for his next move, Mitchell said he has “several things in the works” but no plan had been finalized.

Mitchell’s is one of several executive resignations in recent months at Citizens, which is the state’s 15th largest bank with assets of $1.42 billion as of March 31. Mitchell became CEO of Citizens in April 2021, when Phil Baldwin retired. He had been hired away from Simmons Bank in 2018 with the expectation that he would succeed Baldwin after learning the ropes as president and chief lending officer.

Mitchell confirmed that Karen Shaw had recently resigned as the bank’s chief financial officer. Michael Hoggard, Citizens’ controller, left last fall to become CFO of Generations Bank of Rogers.

Teague was the owner of Teague Auto Group in El Dorado for more than 30 years. He is a longtime board member of Citizens, which was founded by his wife’s grandfather.

Scott, a Batesville native, has 20 years of banking experience. “I am fully committed to my new role as bank President and have complete confidence in our leadership team and our associates. It’s time to build on our legacy of growth, diversification and performance to elevate Citizens Bank to new heights,” he said in the release.

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