Management ChangeAug 13, 2026, 12:26 PM
Magnolia Bancorp CFO Resigns; Kimbro Named CFO, Hurley CEO
AI Summary
Donice Wagner voluntarily resigned from her positions as Executive Vice President, Chief Financial Officer, and Secretary of Magnolia Bancorp and its subsidiary, Mutual Savings, effective August 21, 2026. Following her departure, Robert W. Kimbro will assume the role of President and Chief Financial Officer, while Michael L. Hurley will become Executive Chair and Chief Executive Officer. Both Mr. Kimbro and Mr. Hurley will have an annual base salary of $175,000. Mr. Kimbro brings extensive experience as a certified public accountant and former partner at Ernst & Young.
Key Highlights
- Donice Wagner resigned as EVP, CFO, and Secretary, effective August 21, 2026.
- Robert W. Kimbro appointed President and Chief Financial Officer.
- Michael L. Hurley appointed Executive Chair and Chief Executive Officer.
- Mr. Kimbro's initial annual base salary set at $175,000.
- Mr. Hurley's current annual base salary is $175,000.
- Mr. Kimbro is a CPA with over 38 years in public accounting, including Ernst & Young.
Price Impact
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