Ayden R. Lee Jr. has retired from his role as executive chairman of Four Oaks Bank but will continue to be chairman of the board.
The Johnston County bank announced Tuesday that Lee, who was CEO for more than three decades before stepping down in June, retired as executive chairman as of Dec. 31. As executive chairman, Lee was involved in day-to-day operations.
CEO David Rupp said in an interview that the bank will still benefit from Lee's counsel.
"He has been our leader for 35 years and will continue to be as chairman of the board," Rupp said.
Four Oaks also announced that Lisa S. Herring was promoted to chief operating officer, a position that has been vacant since Rupp, who had been president and COO, was named chief executive in June. Herring joined the bank in 2002 and had been executive vice president and chief risk officer since 2009.
Four Oaks Bank, which has 16 offices and $714.5 million in assets, posted net income of $734,000 in the latest quarter, up from a net loss of $8.6 million a year earlier.