Farmers & Merchants Bank and the Bank of Fayetteville said President and CEO Thomas “Gary” Hudson will retire on Dec. 31, after leading the bank for the past 11 years.
Executive Vice-President Brad Chambless has been named incoming president and CEO. He assumes those duties on Jan. 1.
Under Hudson’s leadership, Farmers & Merchants Bank grew 300% in total assets and added 20 branches across the state with eight operating as The Bank of Fayetteville. Farmers & Merchants is the 10th largest bank chartered in Arkansas.
Hudson earned his undergraduate degree at Arkansas State University and his juris doctorate from the University of Arkansas School of Law in Fayetteville. He is also a graduate of the Southwestern Graduate School of Banking at Southern Methodist University in Texas.
Hudson began his 40-year banking career in December 1980 at Farmers & Merchants Bank in Stuttgart, as vice president of the Trust Division. In 1988, he returned to his hometown of DeWitt as president and CEO of DeWitt Bank and Trust.
In 2002, Farmers & Merchants Bank called on Hudson to launch a new branch there as well as serve as executive vice president and as board member.
Hudson was named to his current position in 2010, following the retirement of Don Pattillo.
In addition, he has served on the Arkansas Bankers Association Board and Arkansas State Bank. Hudson spent 20 years on the Board of Visitors at Phillips Community College of the University of Arkansas, serving as chairman for six years. He remains a board member for the Southwestern Graduate School of Banking.
This year, he was listed among 250 of Arkansas’ Most Influential Leaders by Arkansas Business.