Community Bankshares Inc. -SC- Announces the Appointment of Samuel L. Erwin as Chief Executive Officer; E.J. Ayers to Retire as CEO at Year-End.ORANGEBURG, S.C. -- Community Bankshares Inc., (AMEX AMEX See: American Stock Exchange : SCB ScB abbr. Latin Scientiae Baccalaureus (Bachelor of Science) ), announced the pending retirement from the position of Chief Executive Officer of its Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. E.J. Ayers effective December 31, 2004 and the appointment of Samuel L. Erwin as the new CEO. E.J. Ayers is a 1955 graduate of the University of South Carolina
• • with a degree in Civil Engineering. Upon graduation he served as a pilot in the Air Force, followed by 12 years as an Engineer with Stanley Smith & Sons, later going into the gas and oil business. Ayers was one of the organizers of Orangeburg National Bank in 1987 and later Community Bankshares Inc. in 1992. Upon Hugo Sims' retirement in 1999, Ayers was elected Chairman and CEO of Community Bankshares Inc. He has served as a Director of Orangeburg National Bank, Sumter National Bank, Florence National Bank, the Bank of Ridgeway, Community Resource Mortgage, and Community Bankshares Inc. During Ayers' tenure as Chairman and CEO the Company has grown from $228 million to over $500 million in assets. Ayers will continue to serve as Chairman of the Board of Directors of Community Bankshares Inc. During 2004 the Board of Directors conducted an exhaustive search for a new CEO. Samuel L. Erwin was appointed CEO at the company's December 27 board meeting. Erwin, 36, is a 1990 honors graduate of Clemson University with a degree in Financial Management. While at Clemson, he was the recipient of the Algernon Sydney Sullivan Algernon Sydney Sullivan (1826–1887) was one of New York's leading lawyers in the mid-1800s. Sullivan, together with William Nelson Cromwell, founded Sullivan & Cromwell in 1879. Today Sullivan & Cromwell remains one of the world's preminent law firms. Award. Erwin entered banking in 1990 and worked previously for First Union National Bank (now Wachovia) and SC Bank & Trust in a variety of capacities including commercial lender, city and regional executive and senior vice president. In 2002, Erwin became Senior Vice President and Commercial Relationship Manager for Carolina National Bank & Trust, a newly chartered bank Chartered Bank A financial institution whose primary roles are to accept and safeguard monetary deposits from individuals and organizations, and to lend money out. The details vary from country to country, but usually a chartered bank in operation has obtained government permission based in Columbia. Erwin is involved in a wide variety of civic and professional organizations. He was recognized by the State Newspaper in January 2004 in its "Top 20 under 40" list which identified top leaders in the midlands area under the age of 40. He will assume his new position on January 3, 2005. Community Bankshares Inc.'s common stock is traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol SCB. Community Bankshares Inc., based in Orangeburg, South Carolina Orangeburg, also known as "The Garden City," is the largest city and county seat of Orangeburg County, South Carolina, United States. The population was 12,765 at the 2000 census. The population has steadily declined since the 1950s. , is the holding company for the Bank of Ridgeway, Florence National Bank, Sumter National Bank, Orangeburg National Bank and Community Resource Mortgage, Inc. For further information, please refer to our web site www.communitybanksharesinc.com. |
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