Community Bank Succession Plan Announced

March 27, 2023 |
CB Plan
Top row from left to right: Thomas Colbert, Freddie Bagley, Chuck Nicholson, David Hughes
Bottom row from left to right: Justin Martin, Chance Carter, Matt Mayo

As a part of Community Bank’s annual shareholder’s meeting the next phase of their succession plan has been enacted. A critical aspect of Community Bank’s management philosophy is to identify young bankers with the potential to be future leaders, then invest the time and resources into those staff members for them to have the opportunity to develop into the next generation of Community Bank Leadership. That philosophy is laid out in Community Bank’s succession plan, a plan that details a pool of leaders across the bank’s footprint in each leadership position. As a part of the succession plan, The Board of Directors for Community Bank of Mississippi, is proud to announce the following:

Charles W. Nicholson, Jr. has been elected to serve as the new Chairman of the Board for Community Bank having previously served as President and Chief Executive Officer. Nicholson joined Community Bank in 1998, leading the charge in establishing Community Bank in Meridian, MS. Prior to assuming the role of President and Chief Executive Officer, Nicholson served as Community Bank’s Chief Operating Officer for eight years.

David M. Hughes, will also move into the role of Vice Chairman. Since 2002, Hughes has served in various roles throughout the Community Bank system, most notably as Regional CEO of the Coast Region, making the move to Administration in 2014, where he served as Chief Operating officer and most recently as Chief Banking Officer for the company. 

“We take great pride in our team and our efforts to raise up leaders with-in the Community Bank system. We were built on the premise of training your successor – if you are looking to move up, someone has to have the skill set to fill your role,” said Freddie J. Bagley, Chairman of the Board for Community Bancshares. 

In order for continued growth from the foundation that has been laid by visionary leader Thomas W. Colbert, Sr., Senior Chairman of the Board for Community Bancshares, the Executive Management Team is pleased to announce the promotions of:

Justin C. Martin to President and Chief Executive Officer of Community Bank. Martin has served as the company’s Chief Operating Officer since 2020, serving for a combined five years as a Regional Chief Executive Officer for the Pine Belt and Central MS Regions. Martin began with Community Bank as an Assistant Vice President in 2007.

Chance B. Carter has been named Chief Operating Officer for Community Bank. Carter, who joined the bank in 1997, previously served as Regional Chief Executive Officer for the Central Mississippi Region. Prior to that role, Carter served as President of the Rankin County Division.  

J. Matthew Mayo has been named Community Bank’s Chief Banking Officer. After serving five years as the Chief Credit Officer of Community Bank’s Pine Belt Region, he has spent the last year as Executive Vice President of Corporate Operations. Mayo joined the bank in 2005, serving as Senior Vice President in the Hattiesburg Market.

“The opportunity to elevate three members of our management team that have spent fifteen plus years within our organization, learning and growing within the programs we have in place – Justin, Chance and Matt are outstanding representatives of Community Bank and we look forward to their continued success within their new roles,” stated Charles W. Nicholson, Jr., Chairman of the Board.