Bancorp. of Southern Indiana (“BSI”) and its wholly-owned subsidiary, Jackson County Bank (“JCB”), announced the succession plan for the Chairman of the Board. Current board member Warren L. Forgey has been selected to succeed James T. McCoy to serve as the non-executive chairman of BSI and JCB, effective January 1, 2020. Mr. McCoy, who notified the board of his intent to step out of the chairmanship role, will remain an active board member of BSI and JCB.
Mr. Forgey, current President and CEO of Schneck Medical Center, joined the boards of BSI and JCB in July 2009. In addition, he serves as a member and Chairman of the bank’s Human Resources Committee, and as a member of the Loan Committee, Trust Committee and Financial Planning Committee. Mr. Forgey joined Schneck Medical Center in 1992 and has held a variety of progressively responsible financial and operational leadership positions with that organization, including Vice President/Chief Financial Officer, Executive Vice President Fiscal Services / Business Development, and Executive Vice President and Chief Administrative and Operations Officer until being appointed President and CEO of Scheck Medical Center in April, 2015.
“I am truly honored to be selected by the Board to succeed Jim McCoy. During his tenure, Jim’s leadership has been instrumental to BSI’s growth and success. I look forward to continuing to build upon Jim’s community bank-minded philosophy and support the organization’s mission to create long-term value for our shareholders, our customers and our communities,” said Mr. Forgey.
Mr. McCoy has served the organization for over 46 years, including serving on the JCB board of directors since February, 1973 and BSI since its inception in October, 1983. McCoy has served as the BSI and JCB board chairman for the last 14 years, succeeding Edward P. Elsner in November, 2005. During his tenure as Chairman, BSI assets have grown from $348.1 million to $588.1 million. Mr. McCoy stated, “It has been an honor and a privilege to serve as Chairman of BSI and JCB. I feel extremely fortunate to have had an opportunity to lead BSI and JCB and its excellent Board of Directors. These very talented and dedicated individuals are committed to the success of this organization. I am pleased to have Warren Forgey succeed me in the Chairman role, and am excited and confident in his future leadership of this organization.”
Marvin S. Veatch, President of BSI commented, “The entire BSI and JCB family is extremely grateful to Jim for his leadership during his 14 years as Chairman. Jim has provided key experience and sound counsel that has guided our board and organization. Without his leadership, BSI and JCB would not be the strong community bank it is today. I am pleased to be able to continue my working relationship with Warren Forgey in his new role as Chairman of the Board. Warren’s diverse business background and proven track record make him an ideal candidate to assume the Chairman of the Board position.”